back Back

Mbank collaborates with Khalifa Fund to launch its corporate banking platform

By Leandra Monteiro

June 29, 2023

  • Al Maryah Community Bank
  • Corporate Bank Account
  • Corporate Banking Platform
Share

Al Maryah Community Bank, MbankAl Maryah Community Bank (Mbank), a digital bank in the UAE, in collaboration with Khalifa Fund for Enterprise Development, announced the launch of its Corporate Banking Platform.

The platform offers all types of businesses the ability to open a fully digital business bank account through the website in 6 simple steps, in less than 10 minutes, with zero minimum balance, and zero monthly fees, revolutionising the banking process for its clients through next-generation digital banking solutions.

Whether a sole proprietorship, partnership, or corporation, business owners can now easily open a Corporate Bank Account via Mbank’s specialized Corporate Banking Platform and enjoy the vast range of products such as online and mobile banking, savings and checking accounts, wages protection system (WPS), overdrafts, loans, and trade finance, among others. In addition, the suite includes advanced features such as real-time account monitoring, customizable alerts, and automated payment and invoicing tools, enabling businesses to streamline their financial operations and improve their cash flow.

Business customers can now open a Corporate Bank Account for free, without any minimum balance requirements, and in less than 48 hours. This is a major improvement for customers who previously faced hurdles when trying to open new accounts. With the advanced Digital Connect service of Mbank, business owners can also connect with Mbank’s customer service agents via secure live video calls, eliminating the need for paperwork or in-person branch visits.

H.E. Alia Al Mazrouei, CEO of Khalifa Fund stated, “Khalifa Fund is constantly identifying new and innovative ways to empower UAE entrepreneurs. Supporting SMEs and startups with the ability to maximize their digital capacity is a key area of our focus, and this partnership with Mbank further enhances our efforts in the digitization of UAE businesses. The Corporate Banking Platform will provide businesses of all sizes with a simple and efficient way to manage their finances, as well as enable businesses to streamline their financial operations, which is crucial in today’s rapidly evolving business landscape. We look forward to continuing our partnership with Mbank and supporting entrepreneurs in the UAE with access to cutting-edge banking solutions”.

Commenting on the launch of the new product, Mohammed Wassim Khayata, Chief Executive Officer at Mbank said, “Our mission as part of our community initiative is to empower businesses to thrive by providing them with the tools they need to manage their finances efficiently and securely in a very fast-paced environment. We recognize the challenges that these businesses face, and accordingly we have designed our Corporate Banking Platform to offer them new ways in which they can modernize their processes and have them facilitated to optimize their businesses and encourage growth”.

Mbank’s AI-powered Internet banking platform is user-friendly and has advanced security measures such as multi-factor authentication and 24/7 fraud monitoring, providing businesses with peace of mind while they focus on growing their operations.

Previous Article

June 29, 2023

Versori secures $3.5m to enhance Data Infrastructure Platform

Read More
Next Article

June 29, 2023

Ingenico & Axerve partner for Merchant Onboarding, Instore Payments

Read More






IBSi Daily News Analysis

UAE, money transfer

June 14, 2024

Al Maryah Community Bank

Digital remittances surge as key lifeline amid global economic challenges, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 14, 2024

Bendigo & Adelaide Bank tap MongoDB to modernise core banking tech with Gen AI

Read More

June 12, 2024

Commencis launches new Turkish LLM for banking & financial services

Read More

June 11, 2024

Eurobank Cyprus upgrades its core banking system with Temenos

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023