Mashreq Bank, one of the leading financial institutions in the UAE, has completed a major digital transformation program for the Sharjah Electricity Water and Gas Authority (SEWA), delivering a fully secured, encrypted and automated customer deposit refund platform that forms part of SEWA\u2019s comprehensive digitization strategy.<\/p>\n\n\n\n
The new digital platform removes the need for customers to wait for the issuance of manual cheques to receive a refund for their deposits. In addition, Mashreq has customized an API interface for SEWA that allows for its internal systems to digitally synchronize in real-time with Mashreq.<\/p>\n\n\n\n
Explaining the impact of Mashreq\u2019s digital transformation at SEWA, Joel Van Dusen, Senior Executive Vice President \u2013 Group Head CIBG Mashreq <\/strong>said,\u201cMashreq has a proud history of developing customized digital services for governmental organizations that have the capacity to transform life for customers, citizens and the private sector. The unique API interface and virtual private network gateway (VPN) between Mashreq and SEWA ensures that the digital journey for SEWA customers is as secure as it is convenient.\u201d<\/p>\n\n\n\n Mashreq\u2019s deployment of a VPN serves to \u2018whitelist\u2019 SEWA\u2019s internet protocol (IP) address, which provides the payment process with an additional layer of security. The API connectivity provides SEWA with the required encryption and security, automated payment instructions, credit confirmation status, auto reconciliation and any refund or reversals.<\/p>\n\n\n\n Speaking on behalf of SEWA,Maryam Abdulrahman Ali, Finance & Accounts Managerexplained how, \u201cThe significance of this deal is amplified by the timing and execution of the implementation of a sophisticated digital program in the midst of a pandemic and its associated challenges. Mashreq\u2019s delivery of a bespoke, highly secure digital platform that creates efficiencies and conveniences across the customer journey, is an important step forward in SEWA\u2019s overall digital transformation.\u201d<\/p>\n\n\n\n SEWA, which is a public sector utility company established by an Amiri Decree on March 29, 1995, is fully committed to supporting the UAE\u2019s critical vision towards becoming a cashless society and is one of the first governmental bodies to embrace API technology in public sector customer payment solutions.<\/p>\n","protected":false},"excerpt":{"rendered":" Mashreq Bank, one of the leading financial institutions in the UAE, has completed a major digital transformation program for the Sharjah Electricity Water and Gas Authority (SEWA), delivering a fully secured, encrypted and automated customer deposit refund platform that forms part of SEWA\u2019s comprehensive digitization strategy. 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