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Mashreq has launched NEO BIZ in Pakistan. The digital banking platform targets small and medium-sized enterprises (SMEs), sole proprietors and self-employed professionals.
The initiative aims to simplify business banking and improve access to digital financial services. It combines banking, payments, collections and business support tools in one ecosystem.
Pakistan has approximately 7.14 million micro, small and medium-sized enterprises (MSMEs). These businesses contribute nearly 40% to GDP and 30% to exports. They also employ more than 80% of the non-agricultural workforce, according to the Ministry of Industries and Production.
However, access to formal financing remains limited. Outstanding SME financing stood at around Rs882 billion in December 2025, according to the Pakistan Economic Survey.
Mashreq aims to address these challenges through NEO BIZ. The platform draws on the bank’s international experience. It seeks to simplify financial management and help businesses join the formal digital economy.
NEO BIZ allows eligible businesses to open and manage accounts digitally. This reduces the need for branch visits. It also simplifies routine financial transactions.
The platform brings together payments and collections. Its development roadmap includes business debit and virtual cards. Planned services also cover payroll, invoice-based payments, transaction analytics and bookkeeping.
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These tools aim to help businesses manage daily finances more efficiently. They are also designed to support companies as their needs grow.
Fernando Morillo, Group Head of Retail Banking at Mashreq, highlighted the benefits of digital-first banking.
“Across our international markets, we have seen how digital-first banking models can transform the way businesses operate, improving efficiency, transparency and access to financial services.”
He said NEO BIZ builds on Mashreq’s global experience. The platform combines commercial capabilities with technology designed for SMEs. Morillo also described Pakistan as a high-potential market.
Muhammad Hamayun Sajjad, CEO of Mashreq Bank Pakistan, said the country’s SME sector remains dynamic but underserved. He pointed to gaps in financial access, awareness and digital capabilities.
“With NEO BIZ, we are introducing a platform that is built specifically for the realities of this market, one that simplifies banking, reduces dependency on physical channels and supports businesses as they grow.”
Sajjad said the launch reflects Mashreq’s commitment to Pakistan. He added that the initiative supports financial inclusion and economic transformation through digital innovation.
Mashreq plans to expand NEO BIZ beyond core banking. The bank intends to use Banking-as-a-Service (BaaS) capabilities and strategic partnerships to support this expansion.
The proposed roadmap includes bookkeeping and supply chain solutions. It also covers tax facilitation, analytics and invoicing. Cash flow-based financing is another planned service.
These features are expected to roll out in phases. The aim is to reduce administrative complexity and improve business efficiency.
Syed Jaffar Abbas Shirazi, Head of NEO BIZ at Mashreq Bank Pakistan, said the platform addresses several challenges facing SMEs. These include fragmented financial tools, limited product visibility and barriers to financing.
“Our approach is to bring everything into a single, integrated platform that allows businesses to manage their financial operations seamlessly.”
Shirazi said NEO BIZ would combine account opening and payments with advanced business tools. These include analytics, invoicing and bookkeeping. He described the platform as an effort to move beyond traditional banking.
Mashreq plans to offer NEO BIZ through digital channels and strategic partnerships. It will also use a combination of digital and physical customer touchpoints.
This approach aims to improve access for businesses across Pakistan. It will also help Mashreq expand its reach within the SME sector.
Through NEO BIZ, the bank aims to encourage digital financial services and payments. It also seeks to support entrepreneurs and self-employed professionals. The initiative forms part of Mashreq’s broader vision for a more inclusive, digitally connected economy.
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