Mashreq Bank first in region to offer A2A feature
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.