Once launched, Egypt will be the first country in Mashreq’s network to go live with the full suite of this platform.
Mashreq NEO CORP, developed in collaboration with Oracle and two other vendors, is the first platform in the region to offer a thorough suite of cash management and trade services.
These services include account management, payments, collections, import/export trade services, guarantee management, post-dated cheque discounting, and supplier finance.
The platform boasts an intuitive interface for easy navigation with fully digitized processes. Businesses will benefit from real-time data and analytics, and clients can conduct transactions and access critical information 24/7.
Robust security measures will be integrated into the platform to protect sensitive data throughout all transactions.
“The launch of Mashreq NEO CORP underscores our commitment to developing Egypt as a key market outside the UAE. We aim to lead in digital solutions within Egypt and the GCC. This platform positions Mashreq at the forefront of transaction banking in Egypt, offering the most advanced and customer-friendly digital services available,” Tarek El Nahas, group head of International Banking at Mashreq, stated.
Mashreq NEO CORP also utilizes a scalable microservices architecture to deliver banking services through web and mobile platforms, host-to-host connections, and next-generation application programming interfaces (APIs). These APIs enable direct integration with clients’ customer applications, e-commerce sites, supply chains, and broader industry ecosystems.
“By leveraging advanced technology, the platform offers a customer-centric experience focused on speed and convenience, providing actionable insights that will enhance business efficiency across Egypt,” said Amr El Bahey, CEO of Mashreq Egypt.
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