Platform users can benefit from a series of discounted non-banking services such as cloud providers, office spaces, and human resource management solutions. In essence, businesses receive access to a series of fintechs and start-ups that have agreed to offer discounts for Mashreq’s business banking and NEOBiz customers.
According to a company representative cited by zawya.com, Mashreq is the first bank in the Middle East to partner with start-ups and fintechs in order to provide its banking customers access to their services. The same representative also stated that Mashreq Bank will continue to partner with leading fintechs in the future in order to support local entrepreneurship.
NEOBiz officials cited by the same source highlighted the platform’s orientation towards convenience and growth. NEOBiz is Mashreq’s first digital banking platform designed specifically for start-ups and SMEs.
Through the new platform, Mashreq business banking customers can access HR and planning services from Emirates HR and Bayzat, as well as access to finance via InstaVal, and cloud services via WannaGo. The bank has also partnered with Letswork for co-working, and with Creative971 for website design and branding. Yalla Collect ensures accounting and bookkeeping services, ecommerce is covered by Zoko, legal services by Lexyom and training by Mindcloud.
For cloud-managed products and security solutions, NEOBiz clients receive a 15% discount on the standard set-up fee with WannaGo Cloud. The discounts are obtainable via promo codes.
Earlier in 2022, Mashreq launched NEOPAY, which includes merchant acquiring businesses, payments processing, and issuer/acquirer processing. Mashreq has also teamed up with ThetaRay in February 2022, order to implement the latter’s anti-money laundering (AML) solution.
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