19 April 2018

UAE's oldest bank launches digital-only Neo

04 October 2017  |  5026 views  |  0 iPhone x

Mashreq Bank has launched Neo, a digital-only bank to cater to the needs of the millennial generation.

The new bank provides a complete package of modern mobile and online banking services, including Samsung Pay wallets, carldess ATM transactions, Facebook Messenger chatbots, PFM tools, international currency and stock trading and an e-commerce shopping mall.

Mashreq, which celebrates its 50th anniversary this year and claims to be the UAE's oldest bank, promises that customers will be able to open an account in less than five minutes by downloading the App and scanning their Emirates ID. Credit and debit cards will be issued within 24 hours of approval.

Mashreq Bank’s head of retail banking group, Subroto Som, says: “Today, we see customers of all ages spending significant amount of time on their mobile smart phones, and they demand convenience. We are going branchless because our aim is to embed banking into the daily life of our busy customers, and not force customers to come to bank branches. Neo is not just an account, or credit card, or digital wallet - it a full-service bank with a strong suite of retail banking products, in the palm of your hand."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Mashreq rolls out contactless stickers

Mashreq rolls out contactless stickers

08 April 2014  |  5503 views  |  2 comments | 2 tweets | 4 linkedin
Mashreq packs branches with interactive experience tech

Mashreq packs branches with interactive experience tech

29 November 2013  |  4982 views  |  0 comments | 5 tweets | 5 linkedin

Related company news


Related blogs

Create a blog about this story (membership required)
https://www.capgemini.comVisit www.nextgenbanking.co.ukVisit http://go.jumio.com/finextraAd

Top topics

Most viewed Most shared
hands typing furiouslyArtificial Intelligence for fraud detectio...
12734 views 0 | 10 tweets | 6 linkedin
Speculative interest in cryptocurrencies may have peaked - BarclaysSpeculative interest in cryptocurrencies m...
10672 views comments | 16 tweets | 11 linkedin
Competing in an increasingly competitive spaceCompeting in an increasingly competitive s...
10226 views comments | 1 tweets | 2 linkedin
Revolut launches spare change savings toolRevolut launches spare change savings tool
9113 views comments | 14 tweets | 19 linkedin

Featured job

Find your next job