Mashreq rolls out E Cube Retail Concept
Dubai, June 20, 2013
Dubai-based Mashreq Bank has announced the launch of E Cube Retail Concept, a first-of-its-kind initiative, at its Dubai Internet City Branch.
One of the UAE’s leading lenders, Mashreq said the E Cube Retail Concept offers customers speedy, smart banking and most of all interactivity with the latest technology-led devices.
The bank has steered banking away from a traditional platform into up-to-date technology based with the E Cube Retail Concept, said a senior official.
Explaining the concept, Farhad Irani, the head of Retail Banking Group, Mashreq said, "Upon entering the branch, customers and passersby will be greeted by a 75” exterior attractor screen. This screen visually interacts with people, engaging them with products and lifestyle choices to accommodate their requirements."
On the screens, Mashreq’s online representative, introduces 15 different lifestyles. Customers can then discover various products and services pertaining to each of these lifestyles, with the option of physically downloading application forms and additional product information onto their smartphones through QR codes.
All this is done through touch screen technology. Adding to this interactive experience, each screen will constantly showcase news feeds that will be updated in real time, he said.
“Today is another innovation we present to our customers and the industry, which we believe will lead the way forward. Customer engagement is the core of our brand proposition,” noted Irani.
"We asked ourselves, what do our consumers really want from the technology out there? The simple answer is, they want technology that improves that quality of their banking interactions. It is not about replacing staff with machines. It’s about using machine to help customers and staff engages more deeply," noted Irani.
Acording to him, the E Cube Retail Concept offers more than just banking, it is our way to make our customers evolve, engage and most of all experience banking at its best.
"When customers step into the branch, their journey is met by interactive screens, empowering them to carry out any activity they prefer. Now, customers have the choice to experience banking at their own pace," he said.
Shaker Zainal, the head of distribution, Mashreq said, “We are proud to take our branches to the next level by making it more engaging and interactive. Mashreq’s endeavor is to integrate technology with the conventional banking to exceed customer expectations. We plan to roll-out the initiative quickly across our network. The new age of banking begins today."
For customers who opt for a more relaxed approach to their banking requirements, there are eight interactive tablets placed on tables across the branch. The tablets enable customers to browse through products and services and apply for them then and there.
They may also check their social media accounts, surf the Internet and make the most of online services. Also situated in the branch is a Microsoft Surface table that allows customers to make any necessary financial calculations and customize products to their requirements, he explained.
Giving customers the option for a more private banking environment, the branch comes equipped with a private kiosk where customers can access their personal banking information among other services, including immediate video conferencing with the call centre.
"With the promise of revolutionary banking, Mashreq has appointed customer service representatives to help customers familiarize themselves with the new technology and assist them with any queries they may have," he added.-TradeArabia News Service
More Finance & Capital Market Stories
- Insurance House posts second year of profit
- ETF global assets hit record $2.44 trillion
- Bahrain firms plan IPOs
- Serbia wins $1bn Abu Dhabi loan
- Key equity banker resigns from Saudi Fransi
- DMCC to boost Islamic commodity trade with tie-ups
- IDB, KIA units to invest in Morocco
- First Gulf to set up $1bn sukuk in Malaysia
- Singapore’s UOB Bullion and Futures joins DGCX
- Infrastructure investment ‘key to growth’
- BKIC declares 30pc dividend
- StanChart profit falls 16pc in 2013
- Veteran Saudi banker to head AMF
- Dubai World prepays $284m to creditors
- EFG-Hermes sells Damas stake to Mannai
- Ultra rich number to grow 35pc in Mideast
- Saudi IPO market 'set for big year'
- RAK 'exploring' ceramics unit stake sale
- Bahrain Bourse wins key UK award
- Alba backs Euromoney forum
- URC bond rating upgraded to stable outlook
- GCC urged to set up onshore financial centres
- Consolidation push paying off for Bahrain banks
- Mubadala to focus more on US, Europe
- Six banks join plan for shared customer data register
- UAE economy grows 4pc in 2013
- Egypt foreign reserves up to $17.3bn
- StanChart opens second branch in Iraq
- Oil below $90 to hit GCC economies
- Payfort offers zero deposit scheme to SMEs