Mashreq Bank picks Comarch wealth management platform
UAE-based Mashreq Bank has selected Polish software firm Comarch to deploy a suite of wealth management enhancements.
The first stage of the collaboration is already complete, with Comarch providing reporting automation and investment propositions.
Comarch says its new platform brings client information into a centralised digital location, enabling relationship managers “significant time and operational efficiencies”.
“Our partnership with Comarch enables us to supply our clients with best-in-class investment reports,” says Mashreq Bank executive vice president Mufazzal Kajiji.
“Customer excellence is a top priority at Mashreq, and the deployment of the most innovative digital solutions is integral to the bank’s ability to do so.
“We are confident that this partnership will be strongly beneficial to our wealth customers and provide them with value-added tools to support their goals.”
Founded as Bank of Oman in 1967, Mashreq Bank is the oldest privately-owned bank in the UAE. It reported $43.4 billion in assets under management in December 2019.
The bank deploys Oracle’s Flexcube for its retail banking operations, and is also installing several separate Oracle modules and technology suites.
Przemyslaw Drzymala, executive vice president of global sales at Comarch, says that after “successes in Europe”, his firm is glad this time “it is a client from the Middle East region who sees the value of Comarch Wealth Management”.