Dubai: The National Bank of Ras Al Khaimah (RAKBank has announced the renewal of its partnership with the Fintech platform Invoice Bazaar.
The renewed partnership is in line with the Bank’s strategy of creating an efficient ecosystem and environment for SMEs by offering unique financial solutions to e-commerce traders that include a comprehensive suite of banking services, short term working capital loans, cloud based accounting solutions, and instant access to RAKBank SMEsouk portal.
The e-commerce solution is available to SMEs and retailers of all sizes, including Start-ups with RAKstarter Zero Balance Account. Additionally, the solution covers businesses’ preferential terms on Point of Sale (POS) terminals, mPOS and all other payment gateways.
The financial solutions offered by RAKBank through Invoice Bazaar platform are short term loans to the small and medium businesses that supply bigger e-commerce players against receivables generated on the e-commerce portal.
“This past year has seen a surge in e-commerce trends, which has definitely been fuelled by the recent pandemic, and this resulted in a shift in the way businesses are operating and what the new normal means for them. It is key that we renew our partnership with the distinctive fintech solutions offered by Invoice Bazaar to create a seamless financing experience for all our business customers. We actively encourage our customers to create an online presence and bank digitally,” Dhiraj Kunwar, Managing Director of Business Banking at RAKBank.