October 3, 2016
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Mashreq launches voice-enabled mobile banking app

Mashreq leads the banking industry to a new age of digital transactions with their voice-enabled app.

Times are changing, customer demands are evolving, and businesses are going beyond traditional means to provide better service. These may be the behind Mashreq’s digital approach with its new voice-enabled app.

Mashreq, the oldest private bank in the UAE, is taking the necessary steps to transition over to digital innovations. The UAE-based bank now includes voice-enabled payments in its mobile banking app, offering a more convenient way of banking. Mashreq takes pride in being the first bank to offer this feature in the country, and is continuing its efforts of providing enhanced and more interactive banking.

KEEPING UP WITH CONSUMER HABITS

Mashreq has a great number of reasons to up their banking experience and migrate to digital tech. With most of their customers preferring methods on-the-go, a significant percentage of transactions occur outside of bank branches.

According to Mashreq’s head of retail banking Farhad Irani, the bank handles 3.2 million transactions every month, and 85% of these transactions occur outside the bank. There has also been a significant increase in this trend every year.

As Irani adds, customers are moving towards non-branch banking. Most of their customers prefer the convenience of transferring money, trading in stocks, and looking for potential investments online. And a great deal of their customers uses their smartphones to accomplish such tasks.

INTRODUCING THE NEWLY IMPROVED SNAPP APP

With the intent of making banking experiences more seamless, Mashreq launched its very own Snapp App. This app provides customers with access to different types of banking functions, such as cardless cash withdrawal, mobile money transfers, in-app bank notifications, and Mashreq product applications.

Mashreq’s head of electronic banking and innovation Aref Al Ramli is proud to announce Snap App’s voice-enabled feature. As Ramli explains, this new feature is designed to make payments quicker and safer for customers.  

Customers must have the latest iOS 10 on their devices. They also need to register for the voice banking service on the app. The system will send a one-time password to customers as the final step to complete their registration.   

It is also easy to use this new Snapp feature. Customers simply need to tell Siri the amount they will be transferring and the name of the recipient, which they need to confirm with their Touch ID or pin. An SMS alert will also be sent after the debit. It is important for users to access the app with a password protected device to avoid security breach. The transfers are only available to UAE accounts.

FINAL THOUGHTS ON THIS DEVELOPMENT

Mashreq is heading further down the digital path of the customer journey. Just a few months ago, UAE’s financial institution provided new payment devices intended to simplify customer transactions. The bank’s voice-enabled app is simply one of the many developments they have lined up to ease banking processes.

With the new capabilities in the app, customers can expect shorter transaction times and hassle-free payments through the bank. The introduction of the mobile app has resulted in increased market shares for the bank, setting the benchmark for several other financial institutions in the country.