MENA: 15 December 2020: NeoBiz, the full-service digital bank offering from Mashreq Bank that is designed exclusively for small and medium enterprises (SMEs), start-ups and young entrepreneurs in the UAE, recently signed a strategic agreement with Lexyom, a digital Law firm providing a holistic tech-enabled legal platform.
The new partnership aims to greatly simplify the process of starting a business in the UAE, by providing a digital, hassle-free on-boarding experience for entrepreneurs and SMEs, who have long been recognized as the growth engine of the national economy. Furthermore, the collaboration will also leverage the strengths of both the companies and will enable Lexyom to empower NeoBiz’s clients with prime access to its innovative legal solutions, mainly, its legal dashboard and a number of exclusive offers.
As part of the agreement, Lexyom will provide businesses with an automated company formation process, which includes the UAE mainland as well as its most prominent free zones. The solution will ensure that businesses can manage their initial setup seamlessly. On its part, NeoBiz will enable the same businesses to benefit from almost instantaneous access to a fully digital bank account, ensuring they can meet their financial needs quickly and conveniently. The entire process is completely automated and is powered by state-of-the-art technology from Lexyom and NeoBiz.
Rohit Garg, Head of Business Banking at NeoBiz and Mashreq, said: “This strategic partnership reiterates our relentless efforts during these challenging times to improve the customer experience and support businesses, the lifeblood of the UAE. Our objective through this initiative is to reduce any barriers to entry, as well as improve the overall ease of doing business, by providing a fully digital onboarding process that helps to meet all their legal and financial requirements. With the combined expertise of the NeoBiz and Lexyom teams, we strongly believe that businesses will be able to benefit from highly convenient solutions that are tailored towards their day-to-day needs.”
Commenting on the announcement, Rami Alameh, CEO and founder at Lexyom said: “We are delighted to collaborate with NeoBiz and solve a huge problem faced by the SMEs and entrepreneurs of setting up a company. Under this partnership entrepreneurs can easily set up a bank account in a fast, reliable, and transparent way and fulfil all the legal formalities. As a digital Law firm, we have combined the best of technology with expert legal knowledge to provide our clients with a seamless legal experience. At Lexyom, we are committed to empowering our users with digital legal capabilities to effectively contribute to the development of the dynamic and vibrant UAE ecosystem. We look forward to serve, extend and strengthen the financial relationship with NeoBiz and offer all our clients with the best-in- class professional legal and financial solutions.”
Lexyom’s legal practice areas include a wide range of fast, accurate and transparent legal products including contract formation, contract review, video consultations with certified lawyers, in addition, to a smart legal dashboard.