Mashreq Rebuilds Private Banking Through Client-Led Digital Design

Two years ago, the bank assembled a 25-person business team to build its current wealth management ecosystem. Vipul Kapur, global head of private banking, emphasized that the shift was intentional, moving away from traditional IT-led development to prioritize the user experience. The resulting mobile application allows clients with a minimum of $2 million in assets to autonomously trade equities, bonds, and mutual funds, while maintaining a digital "triangle" between the user, their relationship manager, and the bank's internal systems.

This hybrid model facilitates real-time synchronization; when a client initiates a trade, the relationship manager is immediately informed, and vice versa. The platform supports straight-through processing, including digital authorization requests, which has helped the bank achieve a transactional net promoter score of 95. Beyond the interface, Mashreq is expanding its global reach through strategic corridors connecting the UAE, the UK, and Hong Kong, while bolstering its local influence via a partnership with Goldman Sachs Asset Management.

Financial performance remains robust, with the bank posting a record profit before tax of 4.8 billion AED for the first half of 2026. As intergenerational wealth transfer becomes a primary concern for the region's growing number of family offices, the bank is positioning its digital-first approach to capture younger clients who demand both speed and expert backstopping. By integrating treasury functions and corporate advisory into its private banking suite, Mashreq aims to serve as a comprehensive partner for complex family structures.