Divya Korrapati

ISQA 8030 – Information Systems & Ethics in the News



Bibliographical citation for the article:


Subroto Som, H. o. (2018, January 17). worldfinance.com. Retrieved from World Finance, banking Website: https://www.worldfinance.com/banking/mashreq-banks-innovative-approach-sets-it-apart-from-the-crowd


Brief summary of the article:


Mashreq, a 50-year-old bank in UAE, has become one of the UAE’s leading financial institutions today by making strategic innovative moves throughout its journey. Mashreq started its commitment to becoming a leader in digital banking way back in 2008, by releasing a mobile banking app to its customers. Mashreq with a focus on its future survival, and to bring expeditious change in the areas of speed, agility and client experience has introduced a new branchless digital bank called “Mashreq Neo”. Neo is a comprehensive suite of products that includes credit cards, debit cards, current accounts, personal loans, remittances, global stock trading, gold trading, and foreign currency investment capabilities. Mashreq Neo collaborates with a wide range of market entities, including 100+ stock exchange companies for trading, and Samsung pay wallet and International pay wallet for easy payment options. Neo chat box, a social platform for its customers is integrated with the Facebook messenger. Mashreq has alliances with a wide range of merchants globally for shopping via its Neo platform. Mashreq continues to focus on innovation by investing in Artificial Intelligence, Robotics, and other technologies to stay as a disruptive force in the banking world.

A clear explanation of the management, ethical, legal, or social issues this article addresses:


This article addresses the issue of reckless growth and unsustainable profits by saying that Corporate Social Responsibility(CSR) should be part of all corporate initiatives. Mashreq bank runs several initiatives such as Foloosy to provide financial literacy education to customers and help to prevent them from taking on too much debt.This also addresses the issue of digital solutions threatening the existence of physical banks by pointing out that technology will transform and improve the banking experience rather than eliminating the physical channels. It also talks about how digital banking solutions such as Neo meets the demands of today’s connected generation with its advanced features such as instant account opening,  comprehensive payment capabilities, rewards management, shopping with a wide range of merchants, and personal financial insights all without ever visiting the physical branch. Mashreq is also investing in next-generation technologies and automation to reduce its reliance on human resources and reduce recurring costs.



My opinion on this issue based on this article:


The word “Innovation” is a very old term, that has been driving us for decades. As there is a huge revolution in the technology area, firms are chasing innovation in every aspect of the business today to survive in the competitive world and standout as a leader in their business area. In my opinion, one must be continuously eyeing on the new digital technologies long ahead to sustain as a leader in this digital world. Mashreq, with its innovative strategies in digitization and ability to implement them well ahead of its competitors, became a leader in providing digital banking solutions. Collaboration with a wide range of partners helped Mashreq provide all-encompassing functionality using Neo platform.

Providing good customer service along with continuous innovation in disruptive technologies according to the changing customer interests and market moves will make a firm a leader in its line of business.

Additional References:                                                                                

1. Chi, M., Zhao, J., & Li, Y. (2016). Digital Business Strategy and Firm Performance: the Mediation Effects of E-collaboration Capability. Digital Business Strategy and Firm Performance 2016.pdf (p. 58). WHICEB 2016 Proceedings. Retrieved from Digital Business Strategy and Firm Performance 2016.pdf

2.Finextra. (2017, October 6). Retrieved from https://www.finextra.com/blogposting/14603/innovation-a-new-world-for-banking-or-a-new-bank-for-the-world

3.Retrieved from https://www.mashreqbank.com/uae/en/news/2017/october/mashreq-bank-unveils-a-brilliant-new-digital-bank-mashreq-neo







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