Dubai – Mubasher: Mashreq Bank plans to extend the roll-out of its Mashreq NEO CORP to the customer base in Egypt, according to a press release.
Upon obtaining the required regulatory approvals, Egypt will be the first country in Mashreq’s network and outside the UAE to go live with the full suite of Mashreq NEO CORP products and services.
The platform is the first in the region to offer a comprehensive suite of cash management and trade services, including account services, payments, collections, import/export trade services, guarantee management, post-dated cheque (PDC) discounting, and supplier finance.
Tarek El Nahas, Group Head of International Banking at Mashreq, said: “The launch of Mashreq NEO CORP reinforces our commitment to developing Egypt as one of our most important domestic wholesale markets outside the UAE, underpinning our strategy of being the leading bank that provide digital solutions in both Egypt and the GCC region.”
Amr El Bahey, CEO of Mashreq Egypt, commented: “Leveraging sophisticated technology and innovation, the platform delivers an entirely customer-centric experience centred around speed and convenience, offering actionable, real-time insights which will empower businesses across Egypt to streamline their banking operations and enhance efficiency.”
Developed in partnership with Oracle and two leading vendors, Mashreq NEO CORP offers banking services through web and mobile banking, host-to-host, and next-generation application programming interfaces (APIs).
These APIs facilitate direct connectivity to a business customer apps, e-commerce sites, supply chains, and broader industry ecosystems.
In October 2024, Mashreq Egypt announced the highest annual return of 23% for its Mashreq NEO and e&Mashreq NEO Accounts.
