Mashreq Bank today announced the conclusion of the latest phase of its ambitious digital transformation initiative, in which it adopted Microsoft’s modern workplace solutions. Mashreq is also using tools such as Microsoft Teams, Exchange Online and SharePoint Online, to create a collaborative modern workplace.
The adoption is part of the banks digitisation programme which is focused on a four-pillared strategy of ‘ABCD’ – artificial intelligence, big data, cloud and modern devices. As part of this phase, Mashreq has adopted Microsoft Surface devices and Microsoft 365 (Windows 10, Office 365 and Enterprise Mobility and Security).
“There is a big shift to move away from the brick-and-mortar style of banking to digital banking,” said Ashfaq Bandey, Vice President Human Resources at Mashreq Bank. “The challenge is offering customers everything digitally and, at the same time, making sure their data is secure and their experience is deeply individual and personalised.”
The bank already deployed Dynamics 365 earlier this year, and implemented Windows Defender Advanced Threat Protection. Since then, the bank has seen a greater-than-50% increase in the number of digital transactions, an annual saving of $250,000 in security spending.
“Advances in technology are creating the modern workplace, and providing employees with the latest tools that can enhance productivity and result in higher customer engagement”, said Sandeep Chouhan, Executive Vice President and Group Head of Operations and Technology at Mashreq Bank. Our approach to digital transformation in concert with Microsoft’s expertise and technology solutions, is reimagining how people work together and unlock their creativity.”
“Digital transformation gives organisations the power to engage customers, empower employees, optimise operations and reinvent products and services,” said Sayed Hashish, Regional General Manager, Microsoft Gulf. “In working with Mashreq, Microsoft looked at how each element of the bank’s day-to-day operations could be streamlined using a holistic, homogeneous technology stack. Mashreq unified the benefits of Microsoft 365, Dynamics 365, Azure, and Surface into a single, transformational platform that has brought tangible, measurable progress to the bank’s ability to innovate and retain its recognised leadership status.”
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