Mashreq has introduced a new one-day service commitment for business customers in the UAE, aiming to simplify and accelerate the bank account opening process for SMEs.
The bank stated that eligible businesses can now open an account within a single day through its digital banking platform, NEO BIZ. Customers who do not receive account activation within the promised timeframe may qualify for an AED1,000 cashback, subject to terms and conditions.
The initiative relies on upgraded digital onboarding systems, including AI-powered workflows, electronic KYC procedures, automated verification tools, and integrations with local authorities to reduce manual processing and improve turnaround times.
Following account activation, NEO BIZ users gain access to a range of digital banking services through the bank’s mobile and online platforms. The offering also includes subscription packages with features such as no minimum balance requirements, complimentary local transfers, and operational support tools for businesses.
Fernando Morillo, Group Head of Retail Banking at Mashreq, said the launch comes at a crucial period for businesses dealing with evolving global trade conditions, liquidity challenges, and economic uncertainty. He noted that the bank aims to strengthen support for the SME sector while advancing its digital-first banking strategy.
Rajeev Chalisgaonkar, Head of Business Banking and NEO BIZ at Mashreq, said businesses today require banking partners capable of matching their pace and operational demands. He added that the fully digital onboarding system has been redesigned to create a quicker and more transparent account-opening experience.
Mashreq also highlighted its broader support for SMEs through customised financial products and liquidity-focused solutions designed to help businesses manage uncertain market conditions and operational pressures.
The bank said the move reinforces its position within the UAE’s entrepreneurial ecosystem while setting new benchmarks for speed and customer experience in business banking.
