Mashreq, one of the UAE's leading financial institutions, has unveiled a new mobile banking app aimed exclusively at small and medium enterprise (SMEs). The SnappBiz app will provide easier, more efficient and accessible services for SME customers when they are on the go.
Given Mashreq’s leading position to push banking innovation and its role in leading the UAE banking industry, the bank believe small businesses should rethink their strategy with mobile devices in mind.
Aref Al Ramli, Regional Head of Digital Banking, Mashreq, said: "In today’s world, no one has time to stand in long queues. Transactions and transfers shouldn’t be a hassle. The app is a huge step in convenience to our business banking customers.”
The new app will save business owners’ time, as all transactions initiated through Online Banking can be authorised from SnappBiz and vice versa. SnappBiz also gives customers the freedom of choice to define multiple accesses such as View only, Transaction Initiation or Transaction Authorisation role depending on the type of user.
The simplicity of money transfer is a unique feature of the app. Mashreq customers can transfer funds to anyone in the world and avail special FX deals on Snapp Biz. Moreover, customers can also request for a cheque book, view e-statements and pay their utility bills instantly.
Rohit Garg, Head of Business Banking, Mashreq, said: “We understand how time is of essence for business owners and simplifying banking to them is our main goal. We want to develop innovative financial solutions that will help SMEs to develop, evolve and use technology for their benefit. The SME community is rapidly growing and evolving in the UAE which as a country has one of the most evolved digital infrastructures on the globe. Snapp Biz provides extreme convenience for customers to manage their banking relationship at anytime, anywhere from their smartphones."
The SME sector consists of about 300,000 companies, accounting for 86 per cent of the UAE’s private sector workforce, according to the Ministry of Economy.