Mashreq Bank starts digital only bank
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.