Business & Money | Saturday 1 August, 2015 10:01 am |

-           Mashreq, one of the UAE’s leading financial institutions, today announced the integration of Emirates Identity Authority (EIDA) cards with all its bank processes, allowing customers to open accounts, pay their utility bills, carry out cash withdrawals and deposits, update their personal information using the Emirates ID. Mashreq has thus cemented itself as one of the most innovative banks in the region, and reasserted its market leadership in delivering innovation and a world class customer experience.

Mashreq has also rolled out digital banking infrastructure that allows customers to use their EIDA cards for bank transactions by simply visiting any of the bank’s EIDA-enabled branches or ATM machines. All their existing bank cards will appear on the ATM screen, allowing them to choose from a number of options, including cash withdrawal, bill payments, local and international transfers, cash and cheque deposit, cheque book and statement requests, and even update their mobile number. The new feature will also enable customers to update their visa and passport details instantaneously, eliminating the need for physical visits to a branch. Mashreq will become the first bank in the region to offer its customers this full- fledged integration with the Emirates ID, a national first.

H.E. Abdul Aziz Al Ghurair, CEO of Mashreq made the announcement at a press conference, which was attended by H.E. Dr. Saeed Abdullah Al Ghafli, Director General of the Emirates ID Authority.

H.E. Abdul Aziz Al Ghurair, CEO of Mashreq said, “We have always been very keen to enhance the banking experience for our customers and deliver a world class service. By partnering with the Emirates Identity Authority, we will provide our customers with the latest innovations in banking technologies that are in line with the UAE’s vision of establishing a nation-wide digitally smart infrastructure. These additional services will ensure even higher standards of efficiency and security allowing for a much easier and smoother banking experience for the customers. This is yet another milestone in our journey to provide a world class banking experience to our customers leveraging smart technology and reflects our deep belief in UAE’s ambition to create the world’s foremost smart community” 

H.E. Dr. Saeed Abdullah Al Ghafli, Director General of the Emirates Identity Authority, stressed the importance of supporting organizations from both the public and private sector in the transition of services and in benefiting from the properties of the smart ID card for purposes of enhancing operations, simplifying operations and developing services for the customers. This can be achieved via dependence on the data and information the Authority provides for validating individual identities on the one hand and the high standards of security and quality in transactions be it in direct dealings or in online scenario.

H.E. Dr. Al Ghafli said the use of the ID card in banking transactions in ATMs or other banking systems is a pioneering development across the world. “This will enable Mashreq to assert the trailblazing nature of the UAE around the world by launching new online services based on the card. This will support in the achievement of one of the top objectives of the Emirates ID listed in its 2014-2016 strategic plan, namely, the activation and expansion of the scope of the use of the ID card in various sectors in the country, besides making the ID card the principal reference for verification of individual identities and pushing the sustainable development in the country in a way that enhances the UAE’s global competitiveness,” he concluded.

Aref Al Ramli, Head of Electronic Business & Innovation, Mashreq said, “We’ve always prioritized our customers, aiming to provide them with a top-notch user experience through our various products. We share Dubai’s Smart City vision, and as a partner in that vision, are continually looking for ways to make life easier and more efficient for our customers. Digital infrastructure like our new EIDA feature will help to facilitate that, in the process transforming the way we live our everyday life- the first step in the shift towards a smart ecosystem. We are proud to continue launching forward looking innovative technological solutions to customers, reflecting on the Bank’s commitment. ”

The announcement also promises for a more simplified and efficient onboarding experience. Branch staff will now only need to insert the customers Emirates ID in the EIDA reader, allowing all the cards’ information to be recorded instantaneously on the banks’ E-forms. This will reduce 70% of current data entry processes, and also ensure accuracy of data, meaning that rejections during new account openings will become a thing of the past.