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In response to evolving market demands and the accelerating shift toward digital financial solutions, Mashreq has launched a division dedicated to Banking-as-a-Service (BaaS). This move aligns with customer expectations for banking to be as accessible and integrated as their favorite digital platforms. Through BaaS, Mashreq delivers seamless, on-demand financial services that fit effortlessly into modern lives while addressing the global need for inclusive banking solutions.
The emergence of BaaS represents a revolutionary approach to banking, one that redefines access to financial services. For us, BaaS isn’t just a service but a complete experience. It integrates banking functionalities directly into digital environments, enabling customers to fulfill their financial needs anytime, anywhere through familiar digital channels.
Expanding channels and partnerships through BaaS, Mashreq’s model revolutionizes traditional banking by embedding financial services into everyday digital experiences, meeting customers where they are. It allows us to integrate services into platforms like e-commerce and ride-hailing, enabling options like buy-now-pay-later at checkout or loan access when booking a ride.
Collaborations with fintechs and partner banks, BaaS offers a digital-only banking experience tailored to modern consumers. Customized APIs provide targeted solutions, from healthcare financing at the point of care to payroll-linked services for corporates.
Revolutionizing access through BaaS, we envision banking as an experience beyond transactions. Our model enables customers to engage with essential financial services—money transfers, payments, or loans—through channels they use daily, removing the need for physical branches and integrating banking into their daily interactions.
A bold commitment to financial inclusion, Mashreq’s BaaS provides essential financial access for underserved communities. By building an ecosystem that democratizes financial services, Mashreq ensures banking access for everyone, regardless of background or location. It helps us empower more people and foster economic stability. Expanding our reach to underserved areas, we’re enabling communities to access financial tools previously unavailable, bridging gaps that once limited economic participation.
Our vision for BaaS extends beyond the UAE. Through our non-resident account platform, Mashreq enables UAE residents and expatriates to open accounts back home with ease. This approach builds a global financial ecosystem, meeting the needs of a mobile, globally connected customer base.
Why does Mashreq’s role in BaaS matter? BaaS is the foundation of a future where banking integrates seamlessly into digital lives. Mashreq envisions a future where banking operates quietly in the background, simplifying daily life.
Mashreq is committed to expanding BaaS offerings to new regions, including Asia and Africa, and working closely with regulators to establish standards in open banking. By redefining financial services to be adaptable, accessible, and future-ready, Mashreq isn’t just offering banking—it’s shaping what banking can be.
Ghazal Al Sakaal, Global Head of Digital Strategic Partnerships at Mashreq
