UAE – Mubasher: The Indian private software provider company, Zoho, has unveiled a connected banking solution, Mashreq NeoBiz, in collaboration with the Emirati pioneering financial entity, Mashreq Bank.

Being the first digital banking programme in the UAE, NeoBiz eyes to empower small and medium-sized enterprises (SMEs) with smart choices in order to initiate, transact, and manage the banking requirements, according to a press release on Tuesday.

Through the latest development, NeoBiz account holders can access Zoho Books, which is a reputable online and VAT-compliant accounting software that helps in eliminating manual data entry and automate reconciliation.

Commenting on this, the head of Product Management, Global Tax, Accounting, and Payroll solutions, at Zoho Corp, Prashant Ganti, revealed, “Until now, corporate banking and ERP integration was a luxury that only larger businesses enjoyed."

"We are happy to join forces with Mashreq to equalize this for businesses of all sizes and make everyday banking and accounting easier," he added. 

Meanwhile, the head of NeoBiz and Business Banking at Mashreq, Rohit Garg, added, “The collaboration will enable SMEs in the UAE to streamline their business operations by combining seamless banking transactions through NeoBiz and leverage the accounting software of Zoho on a single platform thus increasing productivity and reducing manual errors.”