Zoho, the company offering a comprehensive suite of business software applications, has partnered with Mashreq bank, which is the oldest privately owned bank in the United Arab Emirates. The purpose of this partnership is to bring connected banking solutions in the region Mashreq NeoBiz.
The solution entails NeoBiz account holders having access to Zoho Books, Zoho’s VAT-compliant accounting software. The purpose of it is to introduce automated reconciliation and to let go of manual data entry.
NeoBiz is the first digital banking proposition in the UAE dedicated explicitly to empowering small and medium enterprises with be able to make better decisions for them to initiate, transact, and manage all of their banking needs.
Head of Product Management, Global Tax, Accounting, and Payroll Solutions, Zoho Corp, Prashant Ganti, stated: “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.”
While head of NeoBiz and Business Banking at Mashreq, Rohit Garg, shared: “Mashreq continues to be at the forefront of digital transformation, and we believe that our partnership with Zoho will further enhance customer experience and make banking simple.”
“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,” Garg elaborated.