Mashreq plans to tap the rising demand for banking services by mobile phone users with the launch of an enhanced version of its Mobile Banking Service called ‘Snapp’. The current version of the app is available on Apple and Android phones. A version of Snapp will soon be made available to customers on Blackberry10 and Windows8 and tablet based platforms. Registration and usage of this service is simple and free of cost.
To add to the convenience, customers can access Mashreq Snapp using their MashreqOnline username and password. There is no requirement to register separately for Mobile Banking. This advanced mobile banking application will provide customers a simple and user-friendly access to their bank accounts from their smartphone.
Snapp App is built on Vipera Platform, a flexible software technology from Europe that allows full mobile access to any financial services data or transactional activity/transaction.
One of the most unique features of Snapp is the GPS locator for Mashreq Flavors Dining Programme, which hosts details of discounts up to 25% and locations of more than 650 partner restaurants.
Aref Al Ramli, Head of Electronic Business & Innovation at Mashreq said, “Smartphones constitute 43.7% of total cellular handsets in the UAE and this is expected to witness an increase. Mobile banking has great potential in the region, especially in the UAE which has a 90% penetration rate. At Mashreq, we focus on making banking convenient for our customers by providing them with access when and where they need it. We use the combination of people and technology to deliver the service and convenience that is right for our customers."
Customers can take advantage of this customer Interaction model by downloading the application from the Apple or Android stores. Non-Mashreq customers will have the opportunity to view product offers, such as 0% Easy Payment Plan and Travel Programme, locate nearby restaurants, Mashreq branches and ATMs without having to log in.
Snapp Mashreq Mobile Banking employs state-of-the-art technology to ensure the highest standard of security. Customers receive an instant SMS alert on their registered mobile number for every financial transaction. Furthermore, only beneficiaries activated via One Time Password will be enabled for bill payment or money transfer. This makes mobile banking simple, user friendly and secure.
Al Ramli added, “Today, Mashreq is the only institution that has a comprehensive and integrated mobile interface which our customers can truly rely on to carry just about any banking activity.”
The UAE market is gradually adopting the usage of mobile banking. Recent trends have revealed the fact that consumer behavior is showing a positive change in terms of usage of the components being currently offered on mobile banking and consumers have started demanding the advancement in technology yet keeping it simple and user friendly, similar or better to the ones being currently employed by the mobile banking giants in other parts of the world.