Mashreq Bank to hire 400 people in B'luru

The largest private sector bank in the UAE, Mashreq Bank, will double its workforce from 400 people at the Mashreq Global Services in Bengaluru to 800 in the next 18 to 24 months.

Speaking about the bank's expansion plan here on Tuesday, Sandeep Chouhan, Group head of technology and operations at Mashreq Bank, UAE, said, "We established our India operations 40 years ago and Mashreq Global Services has been in Bengaluru for 15 years now. We are now looking at hiring as people here have world-class skills and the city is also known for its unique ecosystem of startups."

The bank is incubating seven startups, of which five are from Bengaluru. The India centre supports various technology development for the bank. Mashreq is looking for people at various areas of operations like analytics, compliance, among others.

At present, the bank has presence in 14 countries and it plans to explore countries like China, Russia and Saudi Arabia. Santhosh Mahalingam, MD of Mashreq Global Services, India, said the country will be an integral part of the next wave of innovation for the bank.

Mashreq employs close to 5,500 people, of which 1,500 are located outside the UAE. With AED 6 billion in revenues, the bank is known for its innovation- the first to install ATM cash dispensers, issue debit and credit cards. It has adopted a wide range of digital capability and make use of Artificial intelligence, robotics and IoT.

"Around 100 bots are deployed for doing financial transactions. All these bots are developed by 200 engineers from Bengaluru," said Chouhan.