NeoBiz offers key services to small businesses including innovative chatbot called Emma
UAE-based Mashreq has announced the launch of NeoBiz, the first digital banking proposition in the UAE that will offer customised services for small and medium-sized enterprises (SMEs).
The banking major said NeoBiz offers key services including digital onboarding, transparent and simplified products, digital assistant and full transaction capability online.
Supplementing the launch of NeoBiz, Mashreq has also introduced two more initiatives for small businesses - an innovative chatbot, Emma, which acts as a digital assistant, and a digital Know-Your-Customer platform, enabling customers to complete information submission and renewal with the bank online.
Chatbot Emma will be able to provide assistance to business owners with account openings, guide them on steps to correctly update their documents and inform them about any expired documents. In the event that customers require further assistance, Emma will connect them to a human agent.
Mashreq said in a statement that NeoBiz is one of several digital propositions it has developed to adapt to a rapidly-shifting banking environment and changing customer demands in various segments.
Subroto Som, executive vice president – group head of retail banking group, Mashreq Bank said: “Digital transformation and innovation is being used to enhance customer experience and make banking simple. We are improving the customer experience across channels and making it ubiquitous, delivered whenever and wherever the client requires it.”
Rohit Garg, head of business banking and NeoBiz at Mashreq added: “Small business owners have long been frustrated by the amount of time, personal involvement and multiple visits that it takes to open an account and conduct transactions.
"NeoBiz offers a better solution by providing an intuitive, uniform and convenient digital account opening experience, with speed and predictability.”