United Arab Emirates – RAKBANK announces the launch of a “first of its kind” digital onboarding experience in the region which will enable SMEs to apply for Business Loans, Term and Working Capital Finance and Asset based finance through the RAKBANK Quick Apply portal: quickapply.rakbank.ae/business/finances. 

SME customers can now not only apply for Business Accounts but also Business Finance products in just a few minutes and get instant in-principal approval followed by the funds disbursal in just a few days, without having to visit a branch or sales office. 

This initiative is in line with the Bank’s strategy to improve its customer experience through simple and convenient digital solutions and follows the recent enhancement of its SMEsouk platform which is a one-stop digital marketplace for all SMEs.

Through the SMEsouk platform – www.smesouk.com, existing and budding entrepreneurs can set up their business from getting a trade license to opening a bank account with easy toolkits, grow it further with curated partnerships and exclusive offers and expand their community through events, webinars and a marketplace to list their products and services.

 Raheel Ahmed, CEO at RAKBANK commented: “At RAKBANK, we understand that SMEs are the true heart of every growing economy. That's why we are building a digital ecosystem where SMEs can connect to setup, grow their business and expand their community in a seamless and quick way. The digital onboarding for business loans and finance along with the SMEsouk initiative reaffirms the Bank’s commitment to the SME community and bolsters our efforts to become an integrated, technology-enabled, and customer-centric financial services provider”. 

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About RAKBANK         

RAKBANK, also known as The National Bank of Ras Al Khaimah (P.S.C), is one of the UAE’s most dynamic financial institutions. Founded in 1976, it underwent a major transformation in 2001 as it rebranded into RAKBANK and shifted its focus from purely corporate to retail and small business banking. In addition to offering a wide range of Personal Banking services, the Bank increased its lending in the traditional SME, Commercial, and Corporate segment in recent years. The Bank also offers Islamic Banking solutions, via RAKislamic, throughout its 27 branches and its Telephone and Digital Banking channels. RAKBANK is a public joint stock company headquartered in the emirate of Ras Al Khaimah and listed on the Abu Dhabi Securities Exchange (ADX). For more information, please visit www.rakbank.ae or contact the Call Centre on +9714 213 0000. Alternatively, you can connect with RAKBANK via twitter.com/rakbanklive and facebook.com/rakbank.

For media enquiries, please contact:
RAKBANK
Inass Msaidi
Inass.Msaidi@rakbank.ae