Mashreq Bank starts dig­i­tal only bank

Banking Frontiers - - Banking In The Gulf -

Mashreq Bank has in­tro­duced a new fullser­vice dig­i­tal only bank. Called Mashreq Neo, the new bank will cater to needs and wants of the emerg­ing con­nected gen­er­a­tion. Subroto Som, head of Re­tail at Mashreq Bank, said the new bank will ser­vice dig­i­tally savvy na­tives who want to do ev­ery­thing on­line, on-the-go, and with as lit­tle hu­man in­ter­ac­tion as pos­si­ble. Som, how­ever, main­tained that the bank is con­tin­u­ing to ex­pand its phys­i­cal branch net­work. He said Mashreq New of­fers the flex­i­bil­ity of multi- cur­rency ac­counts, fa­cil­i­tates pay­ments through wal­lets and remit­tances. It also takes care of sanc­tion­ing loans and con­nects the cus­tomers to 30 stock ex­changes of the world, to buy and sell stocks.

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