We have procedures and processes for updating our customer information as well as removing old, outdated information. Focus more on your business and worry less about banking. To give you effective and convenient access to a broad range of financial products and services, we use technology to manage and maintain customer information. and As a Mashreq customer, you have the opportunity to opt out from marketing communication lists or to specify your preferred channel of communication to receive notification of our latest offers and promotions. During times of crisis, SMEs are often one of the hardest-hit segments owing to their smaller workforce and lean operations, which increases their vulnerability to systemic shocks. Rohit Garg, Executive Vice-President and Head of NeoBiz, Mashreq Bank, speaks to GN Focus about the various measures the bank has taken to help SMEs during the outbreak of Covid-19. You can always review our current Policy on our website at: www.mashreqbank.com. This includes retaining information you provide us on any online application, Internet banking transaction or information you send to us by e-mail. In addition, through the adoption of technology such as blockchain, artificial intelligence, data analytics and machine learning, Mashreq has been able to streamline lengthy documentation practices and cumbersome paper-based KYC procedures, ensuring a faster, reliable and more secure onboarding and digital data exchange process. Register to read and get full access to gulfnews.com, By clicking below to sign up, you're agreeing to our If we ask you to e-mail us information other than your name, address, e-mail address and phone number, we will always use the secure encrypted e-mail facility available on mashreqonline when you sign on to view your accounts. Terms of Use Prior to the launch of NEOBiz, startups and SMEs reported difficultly in opening a bank account in the UAE and accessing financial services. Choose Mashreq for your Credit Cards, Personal Loans, Investments, Insurance and much more. A trend that has accelerated significantly in the banking landscape for SMEs has been through financial innovation and growth in fintechs. If you have any questions about our privacy practices write to us at Mashreqbank, Attn: Customer Care Center, P.O. It also explains what types of information we collect and under what circumstances we may share it. Unlike traditional banks, the ability to collect customer data is often integrated into the operations and processes of digital banks right from the beginning. We obtain information online when you visit our website www.mashreqbank.com. We have noticed a recent rise in the number of Phishing emails claiming to be sent out by reputable financial institutions, including Mashreq. Our server security standards and policies are certified by Thawte, one of the world’s most prominent technology security organizations (click here for more details). Cookies, We do not use cookies with visitors to our general website. Generally, e-mail communication over the Internet cannot be assumed to be secure. Now operational for a year, it continues to receive extremely positive feedback from our clients. Building your digital banking innovation experience with … Mashreq announced the launch of NeoBiz, the first digital banking proposal in the UAE to provide personalized and tailored digital services for SMEs, including start-ups and young businesses in the country. Mashreq Bank sets out new blockchain initiative to ensure greater client security Boasting the world’s tallest building and a series of man-made islands, the UAE has never been afraid to do things differently. We have continued to deliver the same level of service and convenience they have come to expect from us, ensuring that our customers are able to access the banking information they need anytime and anywhere. MEN: NeoBiz, the full-service digital bank offering from Mashreq Bank that is designed exclusively for small and medium enterprises (SMEs), start-ups and young entrepreneurs in the UAE, recently signed a strategic agreement with Lexyom, a digital Law firm providing a … Businesses that don’t have a NeoBiz account can apply for … Copyright © 2019 Mashreq Neo. MashreqNeo is the smartphone banking application which offers wide variety of digital banking services in Dubai, UAE. NEOBiz checks all these boxes - perhaps that’s the reason that it is winning the trust of so many customers. This is of immense value to young businesses and SMEs. Mashreq Bank and the Dubai Multi Commodities Centre (DMCC) have signed a cooperation agreement to strengthen support for SMEs and start-ups in … This section is about Living in UAE and essential information you cannot live without. Our Digital Banking and Online Banking platforms focus on providing you the access you need, when and where you need it. These service providers act on our behalf and have agreed in writing to keep the customer information we provide to them confidential. You can manage them any time by clicking on the notification icon. This data is used to engage with the customer post acquisition and also help them as they transact thereby making the customer experience seamless and personalised. Phishing is a form of fraud through communication in an attempt to obtain the intended victim's sensitive information such as username, password, credit card or bank account details. NEOBiz is fast and 100% secure with no hidden fees. In a connected world, cooperation and partnerships are key as they foster a symbiotic ecosystem. As a banking leader, Mashreq is ready to support the UAE’s smart city initiatives. When you log onto our website, you will only be able to successfully access it if your computer has an up-to-date browser (i.e., Internet Explorer, FireFox, Mozilla, Netscape, etc) that operates at a high level of data encryption (128 bit). We may amend this Policy at any time, and we will inform you of changes as required by law. Phishing is an attempt by fraudsters to ‘fish’ out your banking details by using a web-page that usually looks very similar to the bank’s web page. This includes but is not limited to information such as name, postal and e-mail address, phone numbers, employment and financial status, and credit history. We may collect personal and financial information about you that is "non-public." Forgot your User Name? In case you were unable to complete your application, click on "Track application” on the NEOBiz website, a pop up window will appear where you can After submission, you will receive a One Time Password (OTP) on your registered mobile number; and you’ll be well on your way again. Therefore, we have put together a Privacy Policy that respects and addresses your needs. The industry has recently witnessed several neo-digital banks being launched worldwide, which now provide businesses with access to digital solutions that are simple to use and competitively priced. The information we collect varies depending on the accounts and services you request and use. Will Damac follow the privatisation route? To retrieve your user name, please tap below Retrieve your User Name It offers 24X 7 access through online and mobile banking in addition to call centres, interactive teller machines and even a virtual relationship manager. However, we do use cookies with customers who sign on to our online banking services, to make access more pleasant and convenient. This gives you comfort that you are indeed connected to a genuine Mashreqbank server. We have major enhancements in the pipeline to expand these services to achieve our ambitions. We may share personal information (such as name, address and account number) and account information (such as type of accounts, account balances and transaction history) with our affiliates so that they can serve you more efficiently. We retain personal information from any application you submit for deposit accounts, Electronic Fund Transfers (EFT) services, loans or other Bank services. We understand the need to safeguard sensitive information that you have entrusted to us. Business Banking working capital customers and those directly affected by COVID-19 should contact their Relationship Manager to work out individual solutions For Business Banking & NEOBiz customers holding a Basic banking account, the minimum balance requirement will be reduced to AED 10,000 and Fall Below Fee will not be levied for the next three months. Abu Dhabi's NMC nets 430m euros from Spanish, US sales, Saudi Criminal Court dismisses woman’s torture claim, Truckers can get from UK to France with negative test, La Liga: Messi beats Pele record as Atletico stay top, Israel parliament dissolves, sparking new election, Saudis take steps to improve workers’ accommodation. Our employees and contractors have access to such customer information as necessary to conduct a transaction or respond to your inquiries. In some cases, they avoid opening a local bank account and conduct their transactions via non-UAE based foreign banks that subject them to high international fees. Rohit Garg, Executive Vice-President and Head of NeoBiz, Mashreq Bank, speaks to GN Focus about the various measures the bank has taken to help SMEs during the outbreak of Covid-19. Online Privacy Protection From our website (http://www.mashreqbank.com/ ), you may apply for accounts and services, and you may communicate with us via e-mail. A sizeable number of our business banking loan customers received help in the form of payment holidays with no extra fees and charges, while those holding a basic account benefited from a reduction of the minimum balance requirement and a removal of the levy for the fall-below fee. All rights reserved. Click Add user to add more users. Under the terms of the MoU, Mashreq and DMCC will collaborate to provide businesses with simplified access to banking services. We may also share your information in response to a request made by a merchant or business necessary to effect, administer or enforce a transaction that you had requested or authorized in connection with the servicing or processing of a financial product or service, or to maintain or service your account with us. NEOBiz Contact Center*: +971 4 4244550 *Service hours are from Sat - Thu 8AM - 8PM *24/7 Services for Card & Online blocking only We are pleased to say that Mashreq was the first bank in the region to launch a digital banking proposition for SMEs, NEOBiz. First Branchless Banking Designed to fit your digital lifestyle and allowing customers to do all the banking related First Branchless Banking Designed to fit your digital lifestyle and allowing customers to do all the banking related Mashreq NEOBiz - Zoho Books Zoho has partnered with Mashreq, the the oldest privately owned bank in the United Arab Emirates to launch Mashreq’s NEOBiz, a digital business platform. If you ever find that your account information is incomplete, inaccurate or not current, please sign onto mashreqonline to update your information or contact our Customer Care Center at +971 4 424 4444 and our agents will promptly update or correct any erroneous information. To protect the information you provide to us online, we use multiple levels of security. In the current situation, customers expect support from their bank. We have a large number of them coming to life in the UAE, and they particularly find it very difficult to open a bank account for their financial transactions. We have measures in place to protect the integrity of customer information such as maintaining back-up copies of account data in the event of power outages or other business interruptions. Digital banks offer seamless, convenient, secure and cost-effective banking services, especially when compared to traditional branch banking. Mashreqbank collects only relevant information about you that is needed to establish and maintain your account and services as the law allows or requires us to collect. Unable to … DMCC members, which include startups, SMEs and entrepreneurs, will benefit from comprehensive support in opening a Mashreq NEOBiz digital bank account, enabling them to enjoy convenient, secure and cost-effective banking services and focus fully on their core … Despite making up the majority of businesses across the country, most SME owners, as well as startup founders, will tell you that the process can be immensely challenging and time-consuming. Please visit our FAQs page Other queries? Your choices include the following: All banking transactions requested by Mashreq customers are governed by Bank’s Terms and Conditions that might change from time to time according to Mashreq Bank’s sole discretion. Additional security measures are in place to effect funds transfer requests through mashreqonline. NEOBiz has been able to address this with a 20-minute digital account opening application, email-based queries and tablet fulfilment. Contact us Refer & Earn lockGolden Summer lockLogin descriptionOpen Account Contact Neo Need help? In order to preserve that trust, we want you to clearly understand what personal information we collect about you and how we use it. Being a digital-only proposition, NEOBiz is also a lot more economical and gives the customer choices with complete transparency and flat fees. Your closest Mashreq branch is your This website stores cookies on your computer. Only registered users will have an access to mashreqonline by using their password. Our employees and contractors are only permitted access to customer information that they may need to perform their jobs and to provide services to you. The best part about this offering is that it brings third-party products such as accounting software, mobile point of sale and payment gateways as optional add-ons, at special preferential prices for our customers. Mashreq Bank offers a range of banking solutions to suit your needs. NeoBiz is initially aimed at the startups and the small businesses. We collect information about you from the following sources:-. The massive upheaval to the economy caused by Covid-19 has no doubt negatively impacted SMEs, disrupting business continuity and causing financial instability. Our Confidentiality and Security Safeguards, We maintain strict policies and security controls to assure that customer information in our computer systems and files is protected. Mashreq’s NeoBiz account holders get six months of free subscription of Zoho Books. NeoBiz offers aBuilt for" We use computer virus detection and eradication software and employ other technical means (known as "firewalls") to protect against unauthorized computer entry into systems containing customer information. Our firewalls protect Mashreqbank’s systems, only permitting access to authorized users. In addition, they expect a full-scale digital service with a reduction in fees and charges, and access to value-added products and services. Our affiliates maintain the same privacy standards as the Bank. Non-public personal information is information about you that we obtain in connection with providing a financial product or service to you. We share the following categories of information with third-party service providers depending on the specific services provided: We do not share your account numbers with independent third-party marketers offering their own products and services. Both on your website and other media. Mashreq NEO Best Digital banking app designed to fit your digital lifestyle, offers mobile banking services in Dubai, UAE. As a Mashreqbank customer, we let you select your preferred channel of communication for marketing updates sent to you on a periodic basis. In order for us to conduct our operations, including servicing your account or processing your transactions, we may need to share information with our service providers, including data processing companies, cheque, ATM, and other payment processing companies, payment networks, loan service providers, insurance companies, collection agencies, credit reporting agencies and financial service providers with whom we have joint marketing agreements. Head of Mashreq’s NeoBiz tells us how his bank has been supporting SMEs during Covid-19. We retain the transaction information any time you make a transaction on one of your accounts, including ATM or card transactions, loan advances, transactions through Internet Banking, over the phone or at a branch. This ensures that there is an adequate level of security for online activity. The other big opportunity for digital only banks is the ability to build upon the community of users. This is a drastic simplification of a process that previously took up to three months in extreme cases. To find out more about the cookies and data we use, please check out our, Dear Reader, please register to read gulfnews.com, Password should have minimum 7 characters with at least one letter and number, UAE GDP to contract by 6% in 2020: Central Bank, Investors should not try to sit out this turbulence, Open Banking fills up gaps in understanding consumers, UAE airlines drop flights to Oman and Kuwait, Developers must stop flooding property: Damac chief, UAE airlines stop Saudi flights with immediate effect, Dubai: Residents opting for bigger houses, lower rents. The Bank has established internal security controls, including physical, electronic and procedural safeguards to protect the information you provide to us and the information we collect about you. We may share your customer information in response to a lawful request issued by -. NeoBiz, the full-service digital bank offering from Mashreq Bank that is designed exclusively for small and medium enterprises (SMEs), start-ups and young entrepreneurs in … In order to keep our customers up-to-date with our Privacy Policy, we will send you our Privacy Policy annually (by post or email), as long as you maintain an ongoing relationship with us. If you have opted for marketing via SMS banking, as part of our Customer Contact Rule we shall restrict the time for dispatch of messages between 8 am to 7 pm. © Al Nisr Publishing LLC 2020. While the overall outlook remains uncertain, we see positive signs as the world reopens and business activity begins to improve. Privacy Policy. All employees and contractors are required to respect customer privacy. Marketing preference – your choice To find out more information about cookies, please visit http://www.microsoft.com/info/cookies.mspx. At Mashreq, we have successfully leveraged AI technology and big data to offer customers a level of personalisation that provided a seamless customer experience, while achieving new levels of operational efficiency for the bank. Fortunately, some of the impact was cushioned by the support measures offered in the UAE, including stimulus packages from the UAE Central Bank and relief measures from financial institutions including Mashreq. The transaction information includes your account number, date, amount, location of the transaction and any other pertinent information. Box 1250, Dubai, UAE. Mashreq adopted a range of different measures to help businesses. This website/application uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. We also extended support to our NEOBiz customers by waiving the monthly fee for account holders. No one except our employees and contractors has access to the Bank’s computer system and records storage. Our objectives were two-fold: to provide our customers with financial relief and flexibility, and to ensure they are able to go through the lockdown period with minimum financial stress. Information Integrity Measures Mashreq works hard to ensure that the customer information we maintain is complete and accurate. Mashreq Bank, a leading financial institution in the UAE, and the Dubai Multi Commodities Centre (DMCC, a global Free Zone, have signed a cooperation … We’ll send you latest news updates through the day. Mashreq NEOBiz builds upon external partnerships, which are relevant and brings them as optional value-adds for our customers in an efficient manner with cost and time savings. The same is In order to provide financial services to you, we share certain information about you with our affiliates (click here for a list of affiliates). The opt out does not affect this. Al Mashreq NEOBiz is the worst account… Al Mashreq NEOBiz is the worst account you would ever experience unlike any other bank in the UAE, they made you sign a lot of papers and explain to you how simple and fast and easy to open a business account within 72 hours but what they don’t tell you is that they will charge you 2% on each time you try to withdraw money from your account. For example, digital banks can offer customers personalised products and services based on their behaviour, or suggesting options used by customers in a similar line of business. While we may assist in offering financial products and services of our affiliates or other financial service providers, we control the customer information used in connection with these offers. These cookies are used to improve your experience and provide more personalized service to you. If you ever find that your account information is incomplete, inaccurate or not current, please sign onto mashreqonline to update your information or contact our Customer Care Center at +971 4 424 4444 and our agents will promptly update or correct any erroneous information. *Customers may still receive marketing information with account statements posted to them. This data offers unique insights into customers’ behaviour and empowers digital banks to provide them with valuable and relevant offers in real time. As your financial services partner, Mashreq understands that your trust in us is our most important asset. Mashreq SME Account - NeoBiz Min Balance to Maintain-0 AED Monthly Fee-200AED No Annual fees Apply for SME Account Online Mashreq Bank is a private sector … At Mashreq, we focus on making banking convenient for you. MASHREQ SECURITIES LLC DUBAI DUBAI 330 MSSUAEA1XXX MAC SHARAF SECURITIES (UAE) LLC. Our relationship managers reached out to business banking working capital customers and those directly affected by Covid-19 to work on individual solutions. All Rights Reserved, http://www.microsoft.com/info/cookies.mspx, Personal information (name, address and account number), Account information (type of accounts, account balances and transaction history), Transaction information (dates, amounts, locations and type of transaction), Receive marketing communications through any channel (Snail mail, Email, SMS, Tele calling), Receive marketing communications through SMS and email only, Receive marketing communications through SMS only, Receive marketing communications through email only, Communicate only through Relationship Manager (Applicable to Mashreq Gold customers only). Click Submit and you will be able to view your user details in the registration summary. Open a SME Bank Account with Mashreq Bank today to benefit from the tailor made solutions for your SMEs or avail the flexible business loan plans in Dubai. Keeping your account information accurate and up-to-date is very important. Our long-term vision for NEOBiz is that it enables customers to focus on and expand their business. The cookie generated once you sign on to our online banking service expires as soon as you log out or at a predefined time, and to protect your privacy we do not store any sensitive information such as customer information in the cookie. For the SMEs, it acts as a one-stop shop and again delivers superior value proposition. Features Mashreq NeoBiz provides 3 different digital banking business accounts - Basic, Trader Pro, and Advance Business with an annual turnover up to AED 30 Million are eligible to get Mashreq NeoBiz account