News

UAE bank achieves rate of 92 percent for transaction automation

November 19, 2018

Mashreq Bank, the oldest financial institution in the United Arab Emirates, has announced that it intends to make use of digital technologies in every possible area of application as it completes its digital transformation.

An early adopter of automated channels, the bank is looking to implement "end-to-end digitization," working from the bank branch outward, an article in Gulf News said. 

Already, Mashreq has increased the volume of automated transactions from 85 percent to 92 percent within the past three years and, in some branches, automation accounts for 97 percent of transactions.

A large part of this transition has involved next generation ATMs and check deposit technology, as well as mobile banking, Gulf News said.