Arab Bank has recently launched Reflect, the first Neobank in Jordan, targeting millennials between the ages of 18 to 35. Reflect offers an innovative and personalized banking platform designed specifically to provide the millennials with an integrated and simple banking experience using their smartphones. This mobile-only value proposition is a unique, innovation-driven proposition, built around offering millennials smart and seamless digital banking solutions that meet their digital-savvy lifestyle in line with the latest advancements in the fields of digital banking, communications and technology.
Customers are able to take advantage of the innovative services offered by Reflect through downloading the “Reflect” app from AppStore or Google Play and using their email address and phone number to sign in and open a digital wallet account by scanning their ID, taking a selfie and filling in their personal information. Customers will then be able to benefit from routine banking services online with utmost ease and security without the need to visit an Arab Bank branch, noting that Reflect users are not required to be Arab Bank customers.
Reflect app integrates lifestyle services with banking on one platform, allowing customers to benefit from a host of services that include: money transfers between registered customers, the ability to shop online through the “Marketplace” with access to more than 70 merchants across over 10 categories, and short-term saving towards personal financial goals. Reflect also provides customers with exclusive offers and discounts personalized to the customer’s lifestyle and interests. Other features offered to customers include the ability to withdraw and deposit cash daily using the contactless feature available on Arab Bank ATMs, redeeming loyalty points with cash, bill payments, and many more benefits.
Commenting on the launch, Deputy CEO at Arab Bank, Ms. Randa Sadik said: “The launch of Reflect, the first Neobank in Jordan, embodies Arab Bank’s leading position at the digital banking front. It is a manifestation of the bank’s ambitious vision towards embracing digital transformation as an integral part of its strategy.” Sadik added: “The lifestyle-led, mobile-only Reflect app provides the youth with an integrated banking experience that is both seamless and secure. It enables them to conduct a host of banking transactions online without the need to visit the bank, thus dovetailing with our commitment of supporting financial inclusion through serving all segments in the society.”
It is worth mentioning that Arab Bank was named “Best Bank in the Middle East 2021” and “Best Bank in Jordan 2021” for the sixth consecutive year by New York-based Global Finance magazine. The bank also received 12 digital banking awards from Global Finance this year for its corporate and consumer digital services including “Best Mobile Banking App in Jordan” and “Best Online Product Offerings in Jordan”.
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