A LASER SHARP FOCUS ON PERSONALISED BANKING

RAKBANK Elite is differentiating its offerings in the competitive UAE market

- GN FOCUS REPORT

In an exclusive interview with Gulf News, Shehzad Hameed, Managing Director - Retail Banking at RAKBANK, discusses how the bank is differentiating its Elite offering in a competitive market, the role of digital transformation, and new product innovations tailored for high-net-worth individuals.

With a focus on delivering personalised, relevant financial solutions, RAKBANK Elite has carved a niche for itself by blending advanced wealth management tools with everyday banking needs.

How is RAKBANK Elite differentiating its offering in an increasingly competitive UAE market?

RAKBANK Elite has carved out a strong position by focusing on what really matters to affluent and high-net-worth clients, which is relevant financial solutions backed by consistent value. Our offering brings together advanced wealth products, award-winning "Home-In-One" mortgage solutions, and some of the market leading credit cards. It's a blend of everyday utility and long-term financial planning that resonates with clients.

This year, we rolled out a dedicated Elite brand campaign followed by a targeted acquisition drive, both of which have driven strong growth. We also focus on engaging with our clients in sharing regular market updates and organising in-person thematic events with industry experts. We've also introduced a non-resident banking proposition under the Elite umbrella, giving global clients tailored access to UAE banking and investment opportunities.

In line with our ongoing commitment to delivering a premium experience to our customers, we have 4 exclusive Elite centres across Dubai, Abu Dhabi and Ras Al Khamiah, which includes two new world class location upgrades in Dubai and Abu Dhabi respectively.

What role does digital transformation play in your strategy for serving high-net-worth individuals?