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    RAKBANK   AEN000601015

THE NATIONAL BANK OF RAS AL-KHAIMAH (P.S.C.)

(RAKBANK)
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National Bank of Ras Al Khaimah P S C : RAKBANK Launches firefly – a first of its kind companion app

10/06/2021 | 12:46pm EST

RAKBANK Launches firefly - a first of its kind companion app

06/10/2021

RAKBANK today announced that it has partnered with Mastercard, a leading technology company in the global payments industry to launch firefly - a first of its kind companion app for the RAKBANK Emirates Skywards World Elite Mastercard Credit Card.

With the firefly app, customers will never miss out on what matters to them. The app brings customers bespoke experiences and real time offers that best suit their interests and lifestyle at home and abroad so they can make the most of their card benefits.

Customers can enjoy the seamless experience offered by the app right from the simplified on-boarding process using the card scanner within the app. Built on a custom-developed recommendation engine, the app offers a fully personalized experience based on user preferences and behaviour. The content is then curated & tailored to customers' interests contextual to their location through relevant messages thereby enriching their experience at home or while they travel.

"Never have the fear of missing out with the firefly app,"said Banali Malhotra, Director - Marketing, RAKBANK. "Thanks to firefly, not only will customers have all their Card benefits under their fingertips but also they will be able to access discounts of 50% and above over 5000+ offers across categories like Food, Health & Wellness, Travel & Entertainment, Shopping, Services, Jewellery & Watches and more. They can explore what is trending within the app and search and save great deals by their location. It is a true companion app for the discerning traveller."

"Over the years, the Bank managed to transform the concept of credit card programs in the UAE through a host of unique features and now we are offering firefly - an ingenious API integrated Smart App to our cardholders,"said Peter England, RAKBANK CEO. "Staying true to the Bank's prominent position as an innovative and dynamic player, our partnership with Mastercard and their Fintech Startup Nuclei will help us enhance our customers travel experience at every stage through this companion App as well as access all the lifestyle offers and benefits of their RAKBANK Emirates Skywards World Elite Mastercard Credit Card at home and abroad."

"As the UAE continues to make strides in its digitization agenda, consumers are constantly looking for personalized and tailored experiences that offer them the best in rewards. In response to these evolving trends, Mastercard and RAKBANK are launching a one-of-its-kind offering in the market that will transform the payment experience for our cardholders. The new app will serve as a one-stop-shop that enables access to curated offers and tailored rewards uniquely suited to individual preferences. We are proud to work with our long-time strategic partners in making every day spends for consumer safe, secure and rewards,"said Girish Nanda, Country Manager, UAE and Pakistan, Mastercard.

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RAKBANK - National Bank of Ras Al-Khaimah PSC published this content on 06 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 October 2021 16:45:08 UTC.


© Publicnow 2021
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Financials
Sales 2021 3 279 M 893 M 893 M
Net income 2021 708 M 193 M 193 M
Net Debt 2021 - - -
P/E ratio 2021 10,4x
Yield 2021 4,94%
Capitalization 7 292 M 1 985 M 1 985 M
Capi. / Sales 2021 2,22x
Capi. / Sales 2022 2,15x
Nbr of Employees -
Free-Float 43,9%
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Mean consensus BUY
Number of Analysts 3
Last Close Price 4,35 AED
Average target price 5,03 AED
Spread / Average Target 15,7%
EPS Revisions
Managers and Directors
Peter William England Chief Executive Officer
Deepak Majithia Chief Financial Officer
Mohammad Hassan Omran Al-Shamsi Chairman
Venkat Raghavan Chief Compliance Officer
Ahmed Issa Al-Naeem Independent Non-Executive Director