Mashreq Launches The Region’s First Fully Automated Branch ‘imashreq’
In 2013, Mashreq bank rolled-out the concept of the E Cube branch where customers could carry out their everyday banking interacting better with tech. Building on that success. Mashreq has launched the first imashreq branch at the Deira City Centre Metro – the Region’s First Fully Automated Branch.
The concept of ‘imashreq’ came from the insight that while digital has become a seamless part of their customers, no bank has made digital a seamless part of their branch delivery. With most banks, branch banking is business as usual, with queues, delays and frustration and imashreq sets to eliminate that.
“Mashreq is setting the precedent for everyday banking in the Region, and is already seeing its market share increasing as a result of its innovative leadership. The key drivers behind Mashreq’s innovation initiatives is ‘Omni-channel convergence’, and is aimed at migrating our current physical and traditional distribution channels to a resilient and robust digital business model. Consistent with Dubai’s vision to transform the Emirates into the smartest City in the world, we want to play a role in achieving that. No longer intent on just providing traditional banking services and products, the bank is executing its multi distribution strategy to become the everyday bank and primary financial partner of the consumer.”
Farhad Irani, Head of Retail Banking Group
“Innovation is the centre of Mashreq’s philosophy of delighting the customers. The ‘imashreq’ concept has been created to empower customers and assist them to carry out complex transactions at their own pace. No queues, no waiting time, just walk in and carry out quicker & smarter banking transactions or requirements. We are proud to be opening the first fully automated branch in the country. The launch of our branch in Deira City Centre Metro Station reaffirms Mashreq’s commitment to extend its technology to the area, giving customers the opportunity to experience digital banking service at its best. ‘imashreq’ is set to transform the industry, the experience and most of the entire customer journey. In line with the Bank’s expansion strategy, the opening in Emirates Headquarters will allow our customers a wide range of services and benefit from not having to join long lines at our branches to make simple deposits. In turn, this will also help eliminate errors and increase efficiency, freeing up the time of the tellers. With ‘imashreq’ and state of the art deposit machines, customers will be able to skip queues and avoid long waiting times, when making simple lodgments. This means customers can perform faster deposits and withdraw money effortlessly.”
Shaker Zainal, Mashreq’s Regional Head of Distribution
Consistent with the country’s objectives to transform Dubai into the smartest city in the world, the new ‘imashreq’ concept branch in Deira City Centre also offers Mashreq VTM (virtual teller machine), which delivers self-service, video-enabled engagement between Mashreq customers and the bank’s call center, and have access to various banking services. Powered by Avaya SmartEngage, the service will also enable Mashreq customers to apply for various bank services and products, including cheque books and bank statements, update customer records such as addresses and trade licenses, and initiate a video-chat with the Mashreq’s customer agents. Alongside this launch, Mashreq very recently announced the opening of an electronic banking service unit at Emirates Headquarters, offering a wide range of products and digital services, most importantly introducing Mashreq’s automated deposit and state of the art deposit machines.