First a Digital Bank, Now Mashreq Incorporates Artificial Intelligenceby Fintechnews Middle East 12. September 2018
Mashreq Bank has begun implementing artificial intelligence, machine learning, and cognitive capabilities into its daily banking operations by buying into Virtusa Corporation’s Blue Prism Digital Workforce program.
The UK-based software provides enterprise-level robotic process automation that eliminates manual data entry and processing work. The software has been utilised by various banks across the globe like Barclays Africa Group, BNY Mellon, Commerzbank, Nordea, ING and Westpac.
Some of the software’s functionalities include real-time insights, multi-lingual user interfaces, insights across a digital workforce, and ability to integrate with cloud-based platforms. Mashreq worked with Virtusa’s Global Automation practice to cater-make specific solutions that suit the bank’s needs.
The move into AI follows Mashreq Bank’s newly launched full-service digital bank Mashreq Neo, and a step into the UAE bank’s goal of becoming a truly digital bank. Through Blue Prism, Mashreq hopes to be able to provide seamless and instant services to its digital customers through both its branchless neo-bank, and its more traditional banking services as well.
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