Mashreq Launches NEO BIZ Digital Banking for Pakistani SMEs
The Dubai-based bank has brought NEO BIZ to Pakistan, putting business banking, payments and collections on one platform for small firms and sole proprietors.
Mashreq has launched NEO BIZ in Pakistan, a digital banking platform built for small and medium-sized businesses, sole proprietors and self-employed people.
The Dubai-based bank said the platform combines business banking, payments and collections in one place. Eligible firms can open and manage their accounts online, which reduces how often they need to visit a branch.
Several features are slated for later phases: debit cards, virtual cards, payroll, invoice payments, analytics and bookkeeping. Mashreq also lists supply chain tools, tax support and cashflow-based financing among the planned additions. It intends to broaden distribution through partnerships and Banking-as-a-Service arrangements, and to deliver NEO BIZ through digital channels, through partners and through a mix of physical and digital touch points.
Muhammad Hamayun Sajjad, chief executive of Mashreq Bank Pakistan, said the launch extends the bank's commitment to the country and aligns with a wider vision of enabling financial inclusion. The move, he said, supports Pakistan's economic transformation through digital innovation.
Syed Jaffar Abbas Shirazi, who heads NEO BIZ at Mashreq Bank Pakistan, said the platform was designed around a working understanding of the obstacles small firms face — financial tools split across different providers, thin visibility into what products exist, and difficulty getting access to financing.
Mashreq said NEO BIZ draws on the digital business banking it already runs in other international markets. That matters in a segment long served mostly by branch paperwork: a Gulf lender with an existing digital stack can enter without building onboarding from scratch, and its arrival suggests regional banks now treat SME banking as a product line worth exporting.
