UAE lender Mashreq has launched its E Cubed Retail Branch concept, which is intended to allow users to perform banking operations across various devices such as smartphones, tablets, computers and interactive touch screens installed at the branch.
Equipped with interactive screens powered by motion control using Microsoft’s Kinect and an interactive table screen, the smart banking technology at the branches have been designed to help customers to better understand their loan terms with visual guides.
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Mashreq retail banking head Farhad Irani said to start with they are rolling out the smart banking concepts across 12 branches.
"In all, eight smart branches will be operational by the end of this year. Eventually, the concept will be launched across all our main branches," Irani added.
Speaking at the launching event of the bank’s E Cubed branch, Mashreq CEO Abdul Aziz Al Ghurair said while the pace of economic growth in the UAE picks up adding further momentum to their business, they see the banking sector in general and retail banking business in particular gaining from improving consumer confidence.
The expansion and asset growth is expected to be fuelled by incorporating smart banking technologies.
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By GlobalDataAccording to Al Ghurair, the overall loan growth in the banking sector is expected to surpass 4% and the retail banking assets growth is expected to be in the range of 8%-10% in 2013.
