Mashreq, a top financial institution in the MENA region, has announced the successful launch of its NEOBiz Connect API integration with strategic partner Virtuzone. This new integration allows free zone or trade license authorities to submit a full NEOBiz account application from their own platform, enabling a one-click SME account opening, subject to approval, for the first time in the region. Virtuzone customers can now open a bank account through API integration, which simplifies, speeds up and smoothens the process.
Fernando Morillo, Group Head of Retail Banking at Mashreq, said, “APIs play a key role in transforming the global digital banking landscape. This latest market first aligns with Mashreq’s goal of supporting the growing SME ecosystem and enhancing ease of doing business in the UAE”.
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Rajeev Chalisgaonkar, Head of Business Banking and NEOBiz at Mashreq, added, “We are confident that our API integration will provide a seamless banking experience for budding entrepreneurs and allow them to focus on what matters most – the success of their businesses”.
George Hojeige, Chief Executive Officer of Virtuzone, also commented, “Thanks to our collaboration with Mashreq, our customers can now open a NEOBiz account at the push of a button – this is the way business banking should be done”.