In partnership with Zoho to benefit from its applications in digital transformation

Emirates Development provides technical solutions for small projects

Al-Naqbi (right) and Shabdar during the signing of the memorandum of understanding.

From the source

The Emirates Development Bank has signed a memorandum of understanding with Zoho Corporation, a technology company, with the aim of promoting the development of small and medium enterprises and enterprises in the UAE.

A statement issued yesterday stated that the memorandum also aims to enable the bank's customers to benefit from technical solutions for institutions with competitive costs, to help them achieve successful digital transformation, as well as invest the full potential of their businesses.

strategy

The new partnership is in line with the Emirates Development Bank’s strategy to provide all forms of financial and non-financial support to small and medium enterprises in the UAE, as under the memorandum, a comprehensive “Zoho One” package will be provided, which includes more than 45 applications that have the ability to connect business functions. Diversity seamlessly, including (sales, marketing, customer support, financing, human resources, and cooperation) for small and medium-sized enterprises owners of Emirates Development Bank customers at discounted prices.

bank customers

Through this partnership, existing customers of the Emirates Development Bank will be provided with a "Zoho Wallet", which contains a balance of $ 900 (about 3,300 dirhams) to purchase "Zoho One", while new customers of the bank can benefit from these services for $ 1,800 (about 6,600). AED), provided that the stipulated terms and conditions are met.

Emirates Development Bank customers can access the Zoho One platform with multiple applications, which will help projects and companies digital transformation, as well as manage and automate complex processes, thus increasing productivity.

important role

The CEO of the Emirates Development Bank, Ahmed Mohamed Al-Naqbi, said, "The bank is preparing to play an important role in increasing the contribution of industries to push the national economy forward, and it will be one of the main players to cover the financial needs of the various vital sectors of the economy, while technology will be the cornerstone to achieving this ambition." .

He added, "By signing this agreement with Zoho, we will be able to upgrade our offerings to various target groups for our customers, as part of our mission to advance the economic development priorities."

digital transformation

For his part, Zoho Corp's Regional Director for the Middle East and Africa, Ali Shebdar, said: "We are pleased to cooperate with the Emirates Development Bank to support local small and medium enterprises and enable them to accomplish their mission in the journey of digital transformation, as this category of companies currently constitutes more than 90% of the business sector in the UAE, which makes it play an active role in local economic growth and sustainable development.”

Help

The bank is expected to help start-ups and small and medium-sized enterprises increase their contribution to the UAE's non-oil GDP to more than 70%, by the end of 2021.

strategic program

The signing of the new memorandum of understanding signed by the Emirates Development Bank coincides with the launch of the new strategic program for the bank, which focuses on being the catalyst and additional ambitious driver for developing and empowering the UAE economy, and a major supporter of start-ups and small and medium enterprises, while the mission and mission of the bank is based on supporting the agenda of economic diversification. To the UAE by empowering individuals, entrepreneurs, small and medium enterprises, and large companies in priority industrial sectors, as well as promoting innovative technologies to build a knowledge-based economy.

• Increasing the contribution of start-ups to the country's non-oil GDP to 70% by the end of 2021.

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