16 January 2018
visit www.avoka.com

UAE's oldest bank launches digital-only Neo

04 October 2017  |  4815 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  |  5421 views  |  2 comments | 2 tweets | 4 linkedin
Mashreq packs branches with interactive experience tech

Mashreq packs branches with interactive experience tech

29 November 2013  |  4913 views  |  0 comments | 5 tweets | 5 linkedin

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.ebaday.comvisit www.niceactimize.comvisit www.vasco.com

Top topics

Most viewed Most shared
Buffett rubbishes cryptocurrencies; South Korea preps exchange crackdownBuffett rubbishes cryptocurrencies; South...
10812 views comments | 15 tweets | 17 linkedin
BNP Paribas Asset Management completes fund transaction blockchain testBNP Paribas Asset Management completes fun...
9586 views comments | 14 tweets | 31 linkedin
Transferwise ships borderless debit cardTransferwise ships borderless debit card
9239 views comments | 13 tweets | 22 linkedin
Ripple surge makes waves in stock marketRipple surge makes waves in stock market
8964 views comments | 12 tweets | 9 linkedin
Crypto mining threatened by power capacity concernsCrypto mining threatened by power capacity...
8422 views comments | 17 tweets | 18 linkedin

Featured job

Competitive base + commission (double OTE)
London, UK

Find your next job