Mashreq Bank first in re­gion to of­fer A2A fea­ture

The Pak Banker - - FRONT PAGE -

DUBAI: Mashreq has be­come the first bank in the re­gion to en­able Al Eti­had Credit Bureau's Ap­pli­ca­tion-to-Ap­pli­ca­tion (A2A) ad­vanced fea­ture, which grants lenders di­rect ac­cess to the Bureau's data­base to ex­tract the data they need and use it as di­rect in­put into their own de­ci­sion-mak­ing sys­tems.

In a typ­i­cal sce­nario, an en­tity would be able to use per­sonal in­for­ma­tion ex­tracted from an Emi­rates ID chip, au­to­mat­i­cally use that in­for­ma­tion as in­put for mak­ing a credit re­port en­quiry, re­trieve a set of data fields cho­sen by the en­tity and in­put it di­rectly into an in­ter­nal de­ci­sion-mak­ing sys­tems in or­der to shoot back an im­me­di­ate re­sponse. This trans­for­ma­tion is go­ing to im­prove in­ter­nal pro­cess­ing, elim­i­nate hu­man er­rors in data en­try and ul­ti­mately ben­e­fit the cus­tomer in ob­tain­ing pre-ap­provals on the spot. Mar­wan Lutfi, CEO of Al Eti­had Credit Bureau, said: "It is im­por­tant to be at the fore­front of dig­i­tal in­te­gra­tion and the Ap­pli­ca­tion-to-Ap­pli­ca­tion fea­ture is the new­est way of con­nect­ing to the com­pany's data­base in a seam­less and ef­fort­less man­ner. Banks, fi­nance com­pa­nies and tele­com oper­a­tors can now de­sign in­ter­nal de­ci­sion-mak­ing sys­tems that in­stantly read in­for­ma­tion from Al Eti­had Credit Bureau and use it for cus­tomis­ing prod­ucts, of­fers, ser­vices and rates, while cus­tomers are be­ing ser­viced."

"With Mashreq be­ing the first bank to adopt this ad­vanced fea­ture, we be­lieve that fi­nan­cial in­sti­tu­tions will not only be­come more cre­ative and in­no­va­tive in the way they make use of such fea­ture but also dif­fer­en­ti­ate their of­fer­ings and ser­vices to­wards con­sumers," he added.

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