Latest news with #FernandoMorillo
Arabian Business
3 days ago
- Business
- Arabian Business
Mashreq launches new saver account offering 6.25% interest and $1,360 cashback
Mash r eq has launched a high-yield digital savings product that offers up to 6.25 per cent annual interest and cashback rewards of up to AED5,000 ($1,360). The financial institution says the NEO PLUS Saver Account is among the most attractive personal banking propositions in the region. Available exclusively through the Mashreq Mobile App, the account is designed to serve both salary and non-salary customers, combining generous returns with a seamless digital experience. Mashreq launches high-yield savings account What salary customers can get: 6.25 per cent interest per annum for those transferring a monthly salary of AED10,000 ($2,720) or more AED3,500 ($950) salary bonus AED1,500 ($410) Early Bird cashback, which includes spending and remittance rewards. Non-salary customers: 5 per cent interest per annum on balances of AED50,000 ($13,600) AED1,500 ($410) Early Bird Cashback, including 5 per cent cashback on debit card transactions and AED300 ($82) on international remittances Unlike some competing products, customers are not required to sign up for additional products such as credit cards, loans, or mortgages to unlock the full benefits. Fernando Morillo, Group Head of Retail Banking at Mashreq, said: 'We are proud to launch a product that directly responds to the growing demand for rewarding, transparent savings solutions. 'With NEO PLUS Saver Account, customers do not just earn competitive interest – they enjoy a complete digital banking experience through our award-winning mobile app, designed to simplify money management and support smarter financial growth.' Radu Topliceanu, Global Head of NEO at Mashreq, said: 'Mashreq NEO has always been about creating intuitive, high-value banking experiences that fit into our customers' lives. With NEO PLUS Saver Account, we are setting a new benchmark for what digital savings can offer in the UAE – unmatched returns, no hidden requirements, and a fully digital, customer-first journey from start to finish.' Mashreq said the account can be opened instantly and gives users access to wealth-building tools such as fee-free US stock trading, mutual funds, bonds, and thematic investment options.
Zawya
3 days ago
- Business
- Zawya
Mashreq launches NEO PLUS saver account for salary and non-salary customers
Dubai, UAE – Mashreq, a leading financial institution in the MENA region, has unveiled the NEO PLUS Saver Account – a high interest savings product designed to empower both salary and non-salary customers with market-leading returns and seamless digital access. Through the new account salary customers can earn 6.25% interest per annum in addition to a cashback of up to AED 5,000 making it one of the most compelling propositions in the UAE's banking sector. With a focus on simplicity and transparency, NEO PLUS Saver Account allows salary customers transferring a monthly salary of AED 10,000 or more, to earn 6.25% interest, along with a salary bonus of AED 3,500 and an Early Bird Cashback bonus of AED 1,500. Non-salary customers can also enjoy market leading interest rates by simply maintaining a balance of AED 50,000 or more and earning 5% interest. They can also benefit from AED 1,500 with their Early Bird cashback benefit, which includes 5% cashback on debit card transactions and AED 300 cashback on remittances. Unlike other banking accounts in the market, Mashreq's new proposition brings simplicity – no need for additional product sign-ups such as a credit card or loans or mortgages, underlining the bank's commitment to customer-first, frictionless banking. Fernando Morillo, Group Head of Retail Banking at Mashreq, said: 'We are proud to launch a product that directly responds to the growing demand for rewarding, transparent savings solutions. With NEO PLUS Saver, customers do not just earn competitive interest – they enjoy a complete digital banking experience through our award-winning mobile app, designed to simplify money management and support smarter financial growth.' Radu Topliceanu, Global Head of NEO at Mashreq, added 'Mashreq NEO has always been about creating intuitive, high-value banking experiences that fit into our customers' lives. With NEO PLUS Saver, we are setting a new benchmark for what digital savings can offer in the UAE – unmatched returns, no hidden requirements, and a fully digital, customer-first journey from start to finish.' Available exclusively through the Mashreq Mobile App – the highest customer-rated banking app in the UAE at 4.8 stars – the NEO PLUS Saver can be opened instantly, offering customers convenient access to the full suite of Mashreq's digital wealth and investment tools. These include fee-free US stock trading, mutual funds, bonds, thematic investments, and more. This launch further strengthens Mashreq's position as a digital banking pioneer and reinforces its role in shaping the future of personal finance in the UAE. With a fully digital onboarding process and no hidden requirements, the NEO PLUS Saver Account is built for growth-minded individuals who want to make their money work harder – all from their smartphone. For more information on NEO PLUS Saver Account, please click here. About Mashreq Mashreq is more than half a century old, yet proudly thinks like a challenger, startup, and innovator. Mashreq has pioneered key innovations and developments in banking, starting with entry-level digital-first customers all the way to powering some of the region's most prominent corporations and wealth accounts. The bank's mandate is to help customers find their way to Rise Every Day, partnering through the highs and lows to help them achieve their goals and unlock their vision of success. Reassuringly present in major financial centers of the world, Mashreq's home and global HQ remains in the Middle East, offering services whenever and wherever opportunity takes its customers. Mashreq has been recognized as the fastest-growing Middle East brand, by Banking 500 rankings for 2024 by Brand Finance. Find your way to Rise Every Day at: For media inquiries, please write to: media@
Al Bawaba
3 days ago
- Business
- Al Bawaba
Mashreq Launches NEO PLUS Saver Account for Salary and Non-Salary Customers with UAE's Most Rewarding Savings Interest Rates
Mashreq, a leading financial institution in the MENA region, has unveiled the NEO PLUS Saver Account – a high interest savings product designed to empower both salary and non-salary customers with market-leading returns and seamless digital access. Through the new account salary customers can earn 6.25% interest per annum in addition to a cashback of up to AED 5,000 making it one of the most compelling propositions in the UAE's banking a focus on simplicity and transparency, NEO PLUS Saver Account allows salary customers transferring a monthly salary of AED 10,000 or more, to earn 6.25% interest, along with a salary bonus of AED 3,500 and an Early Bird Cashback bonus of AED 1, customers can also enjoy market leading interest rates by simply maintaining a balance of AED 50,000 or more and earning 5% interest. They can also benefit from AED 1,500 with their Early Bird cashback benefit, which includes 5% cashback on debit card transactions and AED 300 cashback on other banking accounts in the market, Mashreq's new proposition brings simplicity – no need for additional product sign-ups such as a credit card or loans or mortgages, underlining the bank's commitment to customer-first, frictionless Morillo, Group Head of Retail Banking at Mashreq, said: 'We are proud to launch a product that directly responds to the growing demand for rewarding, transparent savings solutions. With NEO PLUS Saver, customers do not just earn competitive interest – they enjoy a complete digital banking experience through our award-winning mobile app, designed to simplify money management and support smarter financial growth.'Radu Topliceanu, Global Head of NEO at Mashreq, added 'Mashreq NEO has always been about creating intuitive, high-value banking experiences that fit into our customers' lives. With NEO PLUS Saver, we are setting a new benchmark for what digital savings can offer in the UAE – unmatched returns, no hidden requirements, and a fully digital, customer-first journey from start to finish.'Available exclusively through the Mashreq Mobile App – the highest customer-rated banking app in the UAE at 4.8 stars – the NEO PLUS Saver can be opened instantly, offering customers convenient access to the full suite of Mashreq's digital wealth and investment tools. These include fee-free US stock trading, mutual funds, bonds, thematic investments, and more. This launch further strengthens Mashreq's position as a digital banking pioneer and reinforces its role in shaping the future of personal finance in the UAE. With a fully digital onboarding process and no hidden requirements, the NEO PLUS Saver Account is built for growth-minded individuals who want to make their money work harder – all from their smartphone.
Zawya
10-04-2025
- Business
- Zawya
Mashreq announces new partnership with Goldman Sachs Asset Management
Dubai, UAE – Mashreq, a leading financial institution in the MENA region, is pleased to announce a partnership with Goldman Sachs Asset Management. The new collaboration will enable Mashreq to provide discretionary services to its wealth management customers with an access to a range of discretionary portfolios, aligning with the bank's aim of delivering a superior customer experience and leading investment solutions. Goldman Sachs Asset Management is the primary investment management arm within Goldman Sachs (NYSE: GS), delivering investment advisory services across public and private markets for the world's leading institutions, financial advisors, and individuals. The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets. Goldman Sachs Asset Management is a leading investor across fixed income, liquidity, equity, alternatives, and multi-asset solutions. Goldman Sachs oversees approximately $3.1 trillion in assets under supervision as of December 31, 2024. 'We are extremely proud to start this partnership with Goldman Sachs Asset Management,' said Fernando Morillo, Group Head of Retail Banking at Mashreq. 'This collaboration will support us in offering best-in-class investment solutions to our customers. In addition, we gain access to the expertise, research capabilities and resources of one of the world's leading financial institutions.' Fadi Abuali, co-CEO of Goldman Sachs Asset Management International and co-CEO for MENA, said: 'With Mashreq's strong customer relationships, the bank is an excellent partner for us in the UAE market. Together, we look forward to delivering strong investment solutions and performance for Mashreq's customers.' Vipul Kapur, Head of Private Banking at Mashreq, commented: 'We remain committed to delivering tailored solutions that empower our clients in managing their investments. Our strategic collaboration with Goldman Sachs represents a pivotal milestone in institutionalizing our investment platform. This significantly enhances our capability to cater to the evolving and sophisticated needs of our clients.' Hilary Lopez, Head of Third-Party Wealth for EMEA at Goldman Sachs Asset Management, said: 'We are excited to partner with Mashreq whose focus on innovation and excellence in client service benefit their clients in an ever changing world. We look forward to bringing our global capabilities to complement that focus.' Mashreq's customers will be able to access discretionary mandates catering to various investment and income needs, based on their risk appetites, from April 2025 onwards. About Mashreq Mashreq is almost a half-century old, yet proudly thinks like a challenger, startup, and innovator. Mashreq pioneered key innovations and developments in banking, starting with entry-level digital-first customers all the way to powering some of the region's most prominent corporations and wealth accounts. The bank's mandate is to help customers find their way to Rise Every Day, partnering through the highs and lows to help them achieve their goals and unlock their vision of success. Reassuringly present in major financial centers of the world, Mashreq's home and global HQ remains in the Middle East, offering services whenever and wherever opportunity takes its customers. Mashreq has been recognized as the fastest-growing Middle East brand, by Banking 500 rankings for 2024 by Brand Finance. Find your way to Rise Every Day at: For media inquiries, please write to: media@ For Goldman Sachs, contact Joseph Stein
Zawya
24-02-2025
- Business
- Zawya
Mashreq introduces ‘Mashreq Biz', a game-changer in digital banking for SMEs
Dubai, UAE: Mashreq, one of the leading financial institutions in the MENA region, has successfully launched Mashreq Biz, a next-generation online and mobile business banking platform designed to simplify and enhance the banking experience for businesses. Offering an intuitive, easy-to-navigate interface, Mashreq Biz empowers SMEs and business owners to manage their finances, payments, and transactions seamlessly from the comfort of their office or home, transforming day-to-day business operations into a streamlined, efficient process. Fernando Morillo, Group Head of Retail Banking at Mashreq, said, " Mashreq Biz is a key part of our strategy to empower SMEs and drive the digital banking revolution in the UAE. With this initiative, we are not only expanding our reach across new channels but also enhancing our offerings. We provide advanced products and services that equip SMEs for effective long-term financial management. At Mashreq, our goal is to set new standards in business banking by delivering comprehensive solutions that manage finances both efficiently and securely." With SMEs constituting over 94% of active enterprises in the UAE, employing 42% of the workforce, and contributing 40% to the national GDP, these businesses are pivotal to the country's economic diversification and growth. As of mid-2022, the UAE had approximately 557,000 SMEs, contributing 63.5% to the non-oil GDP, with projections indicating this number will reach 1 million by 2030. Aligned with the growth of the SME sector in UAE, Mashreq is advancing the digital transformation of over 70,000 existing NEOBIZ and Business Banking customers by introducing the 'Mashreq Biz' platform. Launched in 2019, NEOBIZ was the first digital banking proposition in the UAE specifically designed for SMEs. The Mashreq Biz platform builds on this foundation, offering even more advanced features that cater to the dynamic needs of SMEs. This strategic enhancement underscores Mashreq's commitment to maintaining its leadership as a digital innovator and emphasizes its role as a pivotal player in the regional banking industry. Rajeev Chalisgaonkar, Group Head of Business Banking, Mashreq, added "The launch of Mashreq Biz signifies a major leap in our commitment to support SMEs. By providing a platform that not only simplifies operations but also boosts productivity, we are setting a new benchmark in business banking. Mashreq Biz is meticulously crafted to align with the diverse needs of our customers across various sectors, ensuring that it serves as a robust partner in their growth journey. Several of our SME customers participated in the designing and testing of Mashreq Biz, and we sincerely thank them for their insights and their feedback which helped us deliver a platform that addresses the real-world needs of modern SMEs and improves their competitiveness." The introduction of Mashreq Biz is a significant step forward for business banking, offering a wide range of services that enable businesses to access banking solutions anytime, anywhere. Key features of this state-of-the-art platform include an integrated dashboard for a complete relationship overview, instant foreign currency account openings, bulk payments, and deposit bookings at preferential rates. With additional functionalities such as workflow approvals, multi-user management, and value-added services, accessible on both web and mobile, Mashreq Biz promises to redefine convenience and efficiency for business banking customers. Corey Thompson, Executive Vice President and Head of Digital for Mashreq's Retail Banking Group, concluded,"At Mashreq, we are setting a new standard for what digital banking can offer to businesses in the region with the introduction of Mashreq Biz. This platform is a fundamental shift in how businesses can handle their banking needs from the convenience of their office or home. By providing state-of-the-art mobile and online banking, we are simplifying complex financial tasks, making it easier for SMEs to focus on what they do best. Mashreq Biz offers tailored, scalable and secure solutions that are finely tuned to the changing demands of the digital era, ensuring that our customers can thrive in a competitive business landscape.' About Mashreq Mashreq is more than half-century old, yet proudly thinks like a challenger, startup, and innovator. Mashreq pioneered key innovations and developments in banking, starting with entry-level digital-first customers all the way to powering some of the region's most prominent corporations and wealth accounts. The bank's mandate is to help customers find their way to Rise Every Day, partnering through the highs and lows to help them achieve their goals and unlock their vision of success. Reassuringly present in major financial centres of the world, Mashreq's home and global HQ remains in the Middle East, offering services whenever and wherever opportunity takes its customers. Mashreq has been recognized as the fastest-growing Middle East brand, by Banking 500 rankings for 2024 by Brand Finance.
