Mohamed Salah Abdel Hamid Abdel Razek, Senior Executive Vice President and Group Head of Tech, Transformation & Information, Mashreq explains how the bank is integrating advanced technologies and expanding its digital footprint. The company aims to provide customers with a banking journey that is not just efficient and secure, but also innovative, engaging, and memorable.
Q. Could you share some facts and figures about Mashreq’s digital transformation process over recent years? How did these changes help improve your business performance last year?
A. Mashreq’s digital transformation in recent years has been both profound and customer-centric. Our primary goal has always been to innovate in ways that directly benefit our clients, ensuring that our products and processes, particularly in technology, are tailored to meet their evolving needs and daily demands. This approach has significantly enhanced the customer banking experience.
In our journey of digital transformation, we have embraced advanced technologies to improve operational efficiency and customer service. This strategic move has seen a marked increase in online transactions and digital customer engagements. Over the last fiscal year, these efforts have yielded notable improvements in business performance, with increased customer satisfaction, more efficient processes, and higher overall productivity.
As we expand our retail and corporate presence across the Middle East, Asia, and Africa, data residency compliance is a key focus. We are adopting Private Cloud Technology to meet these needs, with Oracle Exadata Cloud at Customer (ExaCC) being a pivotal technology solution for our database workload.
At Mashreq, we are redefining traditional banking by always placing our customers at the forefront of our operations. Our commitment to being a challenger bank drives us to offer innovative, digital-first solutions like Mashreq Neo and Neo NXT, which provide unmatched convenience and efficiency. Moreover, our Wholesale Banking division is crucial in delivering customized solutions to our corporate clients, further establishing our position as a leading bank in the region.
