May 23 2013

Mashreq believes Smart Phones need Smart Banking with the launch of Snapp Mobile Banking

Mashreq believes Smart Phones need Smart Banking with the launch of Snapp Mobile Banking
Launch new version of the revolutionary 'Snapp Best Mobile Banking' application
First ever comprehensive application combines the best of Banking and Technology

Dubai - UAE, May 23rd, 2013: Mashreq plans to tap the rising demand for banking services by mobile phone users with the launch of an enhanced version of its Mobile Banking Service called 'Snapp'. The current version of the app is available on Apple and Android phones. A version of Snapp will soon be made available to customers on Blackberry10 and Windows8 and tablet based platforms. Registration and usage of this service is simple and free of cost.

To add to the convenience, customers can access Mashreq Snapp using their MashreqOnline username and password. There is no requirement to register separately for Mobile Banking. This advanced mobile banking application will provide customers a simple and user-friendly access to their bank accounts from their smartphone.

Snapp App is built on Vipera Platform, a flexible software technology from Europe that allows full mobile access to any financial services data or transactional activity/transaction.

One of the most unique features of Snapp is the GPS locator for Mashreq Flavors Dining Programme, which hosts details of discounts up to 25% and locations of more than 650 partner restaurants.

Aref Al Ramli, Head of Electronic Business & Innovation at Mashreq said, "Smartphones constitute 43.7% of total cellular handsets in the UAE and this is expected to witness an increase. Mobile banking has great potential in the region, especially in the UAE which has a 90% penetration rate. At Mashreq , we focus on making banking convenient for our customers by providing them with access when and where they need it. We use the combination of people and technology to deliver the service and convenience that is right for our customers."

Customers can take advantage of this customer Interaction model by downloading the application from the Apple or Android stores. Non- Mashreq customers will have the opportunity to view product offers, such as 0% Easy Payment Plan and Travel Programme, locate nearby restaurants, Mashreq branches and ATMs without having to log in.

Snapp Mashreq Mobile Banking employs state-of-the-art technology to ensure the highest standard of security. Customers receive an instant SMS alert on their registered mobile number for every financial transaction. Furthermore, only beneficiaries activated via One Time Password will be enabled for bill payment or money transfer. This makes mobile banking simple, user friendly and secure.

Al Ramli added, "Today, Mashreq is the only institution that has a comprehensive and integrated mobile interface which our customers can truly rely on to carry just about any banking activity."

The UAE market is gradually adopting the usage of mobile banking. Recent trends have revealed the fact that consumer behavior is showing a positive change in terms of usage of the components being currently offered on mobile banking and consumers have started demanding the advancement in technology yet keeping it simple and user friendly, similar or better to the ones being currently employed by the mobile banking giants in other parts of the world.

Members can download the Android application from the Android Store or download the iPhone application from the Apple App Store. For more details, please visit www.mashreq.com/snapp.

About Mashreq :
Mashreq is one of the UAE's leading National Financial institutions and the second oldest. Founded in 1967 as Bank of Oman, the bank has played a pioneering role in the industry, particularly in retail banking. Among its many firsts, it was the first to launch such products as travelers' cheques, credit cards and ATMs.

Mashreq has received numerous international awards reflecting the bank's successful record, such as the Best Retail Bank UAE Award by Global Banking & Financial Review 2013, Best Debt House Award by EMEA Finance 2012, Best Regional Consumer Internet Bank for Online Deposit, Credit and Investment Product offerings' by Global Finance Best Internet Bank Awards 2012, Best Regional Retail Bank by The Banker ME Industry Awards 2012, Best Branch Design Award & Best Islamic Investment Fund Award for Mashreq Al Islami Income Fund from Banker Middle East Product Awards 2012, Dubai Human Development Appreciation Award 2012 for its efforts towards the Development of the Emiratisation initiative.

As a leading financial Institution in the UAE, Mashreq aims to be world class in every facet of its business; including its social responsibility to the community it serves in. Towards this goal the bank pays particular attention to recruiting, training, developing and retaining UAE National employees.

© Press Release 2013

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