Mashreq Bank
If any institution disproves the adage that you can’t teach old dogs new tricks, it’s 54-year-old Mashreq Bank.
During that time, it has played an outsized role in positioning the UAE as a global financial and economic hub, enabling customers and businesses to thrive in every corner of the globe – from Asia and Africa to North America and Europe. Rather than stay wedded to tradition, though, Mashreq has adopted a digital-first ethos that’s pushing the technology envelope and giving the bank a number of first-mover advantages.
This pioneering spirit to deliver products that meet customers’ ever-changing needs earned Mashreq our best digital bank in Dubai award again this year.
The bank makes a point of marrying its online platforms and apps as closely as possible to product offerings. That approach to its foreign trade services, direct banking and comprehensive mortgage products makes Mashreq a force to be reckoned with in all financial services fields.
Most intriguing, though, is how Mashreq is doing its part to disrupt the industry.
Of course, Covid-19 dislocations are accelerating digitalization efforts everywhere. But Mashreq is also building wider networks. Case in point: it is striking fintech partnerships to encourage innovation that it might in turn use to enrich its own shareholders.