Emirates NBD has introduced a digital business bank for entrepreneurs and SME businesses.

The offering, dubbed E20., is launched to support the domestic business sector. Sole proprietors, freelancers, gig economy workers, start-ups, fintechs and insurtechs and SMEs can open an account with E20.

E20. allows the business customers to open a bank account and avail regular banking services through a mobile app. They can also make local and international money transfers, bill payments through the app.

Furthermore, customers will receive a cheque book, a debit card and access to Emirates NBD’s ATM and cash and cheque deposit machines network.

Emirates NBD vice-chairman and managing director Hesham Abdulla Al Qassim said: “Emirates NBD has a shared commitment to the growth and development of young businesses in the UAE and we are pleased to be launching E20., a custom-built digital business bank that will support the courage of entrepreneurs and enable start-ups as well as emerging and established small business owners to access banking services and more, seamlessly and conveniently, helping them focus more of their time on growing their business.”

E20.: other features

The new Emirates NBD digital business bank is also designed to support its customers with their business operations. E20. offers them with tools to generate invoices, track receivables, view P&L statements and make vendors and supplier payments.

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It will also provide insights on expenses and cash flows as well as information on VAT returns.

Additionally, customers can connect with a relationship manager through an in-app live chat for banking queries.

Currently, the app is made available to a select group of entrepreneurs to test its features and receive feedback.

E20. will be rolled out to all UAE business customers following the completion of this beta phase by Q1 2020.

Recently, Emirates NBD partnered with Amazon Web Services (AWS) to launch voice banking services.