Abu Dhabi: Al Maryah Community Bank (Mbank), a leading digital bank in the United Arab Emirates, in collaboration with Khalifa Fund for Enterprise Development, announces the launch of its highly anticipated Corporate Banking Platform, offering all types of businesses the ability to open a fully digital business bank account through the website www.mbank.ae in 6 simple steps, in less than 10 minutes, with zero minimum balance, and zero monthly fees; revolutionizing the banking process for its clients through next-generation digital banking solutions.

Mbank’s Corporate Banking Platform launches less than two weeks after Mbank and Khalifa Fund sign a Memorandum of Understanding, whereby Mbank continues to pursue its promise to support National and Resident entrepreneurs by offering financing solutions to eligible SMEs supported by the Khalifa Fund through a credit guarantee scheme, including a range of exclusive benefits when they open an account such as no minimum balance requirements, access to a marketplace, a dedicated relationship manager, and innovative banking services.

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. Thanks to 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, Mr. 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.

About Al Maryah Community Bank:

Al Maryah Community Bank is the first fully integrated digital bank in the UAE, providing an omnichannel experience for both individual consumers and small businesses. The bank is highly specialized, focusing on growth and serving the UAE community, which includes UAE Nationals, residents, and businesses (both SMEs and corporates). The bank's vision aligns with that of the UAE's leaders, who are committed to supporting individuals and small businesses within the UAE economy and fostering a forward-thinking culture that emphasizes innovation and technology.