Laser sharp focus for personalised banking from RAKBANK Elite

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.

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.

Digital transformation is central to our strategy of being a ‘digital bank with a human touch’. We aim to strike a balance between the convenience of digital banking and the personalised assistance that customers seek during their banking journey. A key initiative is our upcoming Wealth Hub within the RAKBANK app, which will offer personalised insights and real-time

access to investment opportunities. It’s about combining the speed and convenience of technology and complementing it with trust and guidance of relationship-led banking.

While we continue to enhance our core offering which includes mutual funds, bonds, structured products, insurance, digital gold, FX trading and margin lending capability. We are also leaning into alternative investments as part of our broader goal to offer clients a well-rounded suite of products that help them grow their wealth across different risk-return profiles.