- Two UAE-based companies—digital bank Zand and business banking platform Yuze—have teamed up to help small businesses, startups, and entrepreneurs secure digital business accounts.
- The strategic alliance between the two firms is designed to make financial services available to eligible, underserved companies via fast onboarding, an IBAN account, digital banking solutions, and advanced business tools.
- Both companies are headquartered in Dubai. Zand was founded in 2018. Yuze launched in 2022.
Blockchain-powered digital bank Zand and digital business banking platform Yuze have teamed up to help small businesses, startups, and entrepreneurs secure digital business accounts. The strategic alliance will enable eligible, underserved businesses in the UAE to access financial services via Yuze’s platform.
“The SME sector is a key growth engine driving the UAE economy,” Zand CEO Michael Chan said. “We are excited to partner with Yuze to support the business banking needs of SMEs and startups across the UAE, with our innovative and client-centric digital banking solutions.”
The strategic alliance will provide companies with access to IBAN accounts, digital banking solutions, and advanced business tools to support their operational and financial management, as well as their future growth. The partnership will also streamline the onboarding process for business customers, allowing them to establish banking relationships more quickly.
“At Yuze we believe that when banking becomes intelligent, businesses become limitless,” Yuze CEO Rabih Sfeir added. “Together with Zand, we are committed to providing customer-centric and next-generation banking services to businesses in the UAE.”
Headquartered in Dubai, Yuze offers modern business banking solutions including digital onboarding, business banking accounts, payment cards, and expense management tools. Founded in 2022, Yuze recently announced the launch of its Yuze Freelancer App in India. Designed to empower the next generation of freelancers, the solution enables users to open a digital wallet in minutes, send and receive payments, and track income and expenses—all within a single, intuitive app. “We’re not just giving financial access,” Sfeir said when the offering was announced. “We’re giving a partner that listens, understands, and grows with people.”
Founded in 2018 and based in Dubai, Zand is a digital bank that serves both retail and enterprise banking customers. A self-described “blockchain-powered bank,” Zand specializes in using AI and blockchain technology to bridge the gap between traditional and decentralized finance. The institution is licensed by the Central Bank of the UAE, the first all-digital bank in the UAE to earn this accreditation. Zand is also the first bank in the region to secure ISO certifications for information security management systems and for privacy information management systems covering Web3 services.
Photo by Nick Fewings on Unsplash
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