Mashreq Neo Launches Virtual Draw For Remittance Customers

Mashreq Bank, one of the leading financial institutions in the UAE, has launched a virtual draw called “Roll the Ball” for remittance transactions that are completed through Mashreq Neo, its full-service digital bank.

The latest initative by Mashreq comes at a time when remittances are widely expected to rise globally as well as in the UAE. Earlier this year, the World Bank forecast an increase of 1.5 per cent in global remittance flows, while prominent national events such as Expo 2020 are expected to boost remittances in the UAE.

“Roll the Ball” is designed as a gamified virtual draw experience. Mashreq Neo customers that make an international remittance above AED 2,000 will be eligible to win prizes ranging from AED 10 to AED 1,000 instantly, whenever they remit through the Mashreq Neo app. As soon as the transaction is completed, customers receive instant prizes in the form of electronic gift vouchers.

Sridhar Iyer, Head of Mashreq Neo, Mashreq, said: “‘Roll the ball’ is a fun and engaging experience on the Neo App that enables our customers to win prizes while making international remittances – in a completely safe and secure mobile banking environment.”

“Through the Mashreq Neo app, customers can make instant digital transfers to over 35 countries at low fees and highly competitive exchange rates while winning guaranteed rewards with ‘Roll the ball’. The overwhelming response that we have received from our customers, clearly demonstrates that customers appreciate a mobile banking experience that is fun, engaging and safe,” added Iyer.

Customers using the ‘Roll the Ball’ feature will be able to experience rich animations, audio effects as well as sensory feedback from the app. The Mashreq Neo app will also feature enhanced controls to prevent chances of fraud and misuse.