Head of Retail banking, Farhad Irani with Mashreq senior staff at the launch
All research shows that UAE customers are constantly on the lookout for better service, enhanced products and most of all, simplicity. According to a recent survey, 53% of customers want to switch their bank, and yet a definitive syndicated survey also shows that only 12% of UAE customers have ever changed their banks.
Mashreq found that the reason for the gap – the large numbers of UAE bank users who do not shift their banks - are the many perceived barriers to such a move.
Continuing its innovative strategy to launch ‘first of its kind’ financial solutions, UAE’s leading bank, Mashreq launched ‘Mashreq Max’ a revolutionary banking experience that literally delivers the bank to the customers, elevating customer service to new heights. The combination of innovative banking products and services coupled with state-of-the art technology delivers a powerful package that will both simplify the customers’ lives and maximize their benefits.
A press conference was held at Armani Hotel to witness the launch of Mashreq Max, in the presence of Farhad Irani, Head of Retail Banking Group, Tooran Asif, Head of Personal Banking, Ambar Brahmachary, Head of Marketing & Customer Experience and other members of the senior management.
Farhad Irani, Head of Retail Banking, Mashreq said during the press conference, “At Mashreq my endeavor is to be best in class on three vectors – value proposition , service and profitability . Customers are intelligent and increasingly discerning . Customers respect a bank that respects their time . In this day and age of convergence and freedom of choice we believe Max is a true embodiment of bringing the Bank to the valued customer while he / she enjoys the hygiene benefits of a 24/ 7 relationship manager and branch banking support. Max leads UAE banking into the future by translating insights on what customers really need into a marvelous state of art technology enabled human experience. As customers progress on value, on convenience, on experience ..so will Mashreq.”
Mashreq Max offers never before simplicity with the maximum benefits.
When a customer opens a Salary Transfer Account, Mashreq will take the bank to him. Literally. In a Samsung Tab with preloaded banking services. Customers will enjoy the perks of opening a salary transfer account without even having to visit the branch. The Mashreq Max tablet delivers three groups of power packed benefits - pre-approved Loans and Cards; lifestyle maximisers like Mashreq Flavours, Salaam Rewards and Shopping Discounts and time maximisers like the revolutionary Sanpp Mobile app, their own Personal Advisor and Home Budgeting tools.”
“One should appreciate that any solution that is so easy to use and so elaborate / responsive at the customer end is indeed a solution that requires significant retooling within the Bank’s engine room. An end to end restructure of our processes adopting world class Lean principles is the secret to Mashreq’s generation of value innovation..one that delivers more than Banks in Asia and the Middle East . The most experienced team of Retail Bankers in the Middle East makes change really happen. The world demands a better financial services experience and I hope Mashreq in a small way can contribute to that need via Max”, Added Farhad Irani.
Tooran Asif, Head of Personal Banking, Mashreq commented, “Mashreq Max Pre-approved section offers customers pre-approved personal loans, pre-approved revolving overdraft facility, pre-approved free Platinum Elite Credit Card. Mashreq Max Lifestyle Maximiser includes, ‘Salaam rewards programme, Mashreq Flavours Dining Program and exclusive discount offers for Mashreq customers. Lastly, the Mashreq Max Time Maximiser includes a ‘virtual personal advisor’ to assist customers at anytime and anywhere, ‘e-apply for a banking product’, ‘Snapp Mobile Banking app’ and a ‘Budget Maximiser’ app.”
Ambar Brahmachary, Head of Marketing & Customer Experience added, “Mashreq Max provides a gamut of products and services like no other. It is a one-stop shop. We wanted to give something back to the customer for transferring their salary by opening an account with Mashreq. The entire objective of this product is to underscore Mashreq’s commitment towards the UAE customer in elevating the level of service in the industry.”
Mashreq recently launched the UAE’s Best Mobile app Snapp with its truly unique features. Now customers can access Mashreq Snapp using their MashreqOnline username and password. There is no requirement to register separately for Mobile Banking. Snapp provides a GPS locator for Mashreq Flavors Dining Programme, which hosts details of the offers and locations of more than 650 partner restaurants.