UAE bank launches new digital platform to support SMEs

SOURCE: Arabian Business

National Bank of Ras Al Khaimah unveils SMEsouk initiative to create digital ecosystem for small businesses

The National Bank of Ras Al Khaimah, better known as Rakbank, has launched a new digital platform to support small and medium-sized companies (SMEs).

Recognising the importance of creating a flourishing ecosystem and environment for SMEs, Rakbank said SMEsouk will support SMEs by connecting them with complimentary industries for a comprehensive suite of non-banking value added services such as licensing, accounting, insurance and trade requirements.

SMEsouk directs users and customers to offers and financial packages available in just a few simple clicks, while SME customers will also be able to read through all the latest news, insight and information on what’s shaping the world of business as well as access to tips and ideas that SMEs can incorporate to help nurture their business’s growth.

Dhiraj Kunwar, managing director of business banking at Rakbank, said: “Rakbank has partnered with reputable government and private entities to help create a digital ecosystem that we can constantly update and enhance to help in delivering a comprehensive suite of non-banking value added services that fulfils the needs of the business customers of tomorrow.

"We believe and are proud to say that the SME experience with Rakbank is constantly transforming and growing as we look forward to being a part of SMEs journey as they grow."

Peter England, Rakbank CEO, added: "We are the leading SME bank in the country, and this is because SME needs and requirements are placed at the core of our strategy. At Rakbank, we believe in supporting SMEs and our new digital initiative offers a wide range of services and solutions that helps them reach their full potential.

"We have partnered with a number of service providers in areas such as licensing requirements, accounting solutions, insurance, trade solutions and more to provide a range of value added services to our clients.”