Mashreq becomes first bank in UAE to deploy AI-powered solutions

Mashreq Bank has completed the implementation of Blue Prism’s Digital Workforce platform in collaboration with Virtusa, becoming the first private bank in the UAE to implement solutions that utilise artificial intelligence and machine learning.

The platform incorporates emerging technologies such as robotic process automation, artificial intelligence (AI), machine learning and cognitive capabilities to better serve customers.

Virtusa senior vice president and head of the Middle East Business unit Vasudev Telikicherla said in a statement: “This upgrade is another milestone in Mashreq Bank’s journey to becoming a truly digital bank, enabling it to cater to the growing digital customer base while gaining strategic competitive advantage.

“For organisations to succeed in this digital age, it is imperative to keep pace and embrace disruptive innovation.”

UAE-based Mashreq Bank has implemented Blue Prism v6 platform which is equipped with various new features.

It includes top-tier security to enable robotic automation; customised interfaces to enhance human-robot interactivity; and reusable modular software objects.

The custom interfaces enabled to enhance human-robot interactivity and adaptive positioning technology that automates application controls and fields.

Other features include adaptive dashboards for use with third party tools, multi-lingual user interfaces and double-byte character support to expand geographic usability and complex language processing.

Mashreq Bank business technology chief technology officer Nitin Bhargava added: “Innovation and excellence in customer experience are cornerstones of Mashreq. The success of this implementation reflects our pioneering streak and our relentless effort to lead digital disruption in the industry.”

Recently, Virtusa acquired eTouch Systems to improve its digital engineering expertise and expand its digital service offerings.

Established in 1967, Mashreq is the oldest Bank in the UAE. Throughout its 50 years’ history, Mashreq has been keen to offer innovative financial solutions.

Today, Mashreq has a significant presence in 11 countries outside the UAE with 26 overseas branches and offices across Europe, USA, Asia and Africa.

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