In the ever-evolving landscape of digital finance, two Dubai-based companies, Zand and Yuze, are collaborating to enhance banking services for small businesses and startups in the UAE. This partnership seeks to provide underserved enterprises with the essential tools needed for effective financial management.

Empowering SMEs in the UAE

The collaboration between Zand, a blockchain-driven digital bank, and Yuze, a digital banking platform, aims to facilitate access to financial services for small and medium-sized enterprises (SMEs). As articulated by Zand’s CEO, Michael Chan, “The SME sector is a key growth engine driving the UAE economy.” This initiative underscores the companies’ commitment to offering tailored banking solutions that meet the unique needs of contemporary businesses.

The partnership focuses on providing eligible companies with not just digital banking accounts, but also advanced tools to help streamline their operations. Enhanced onboarding processes will enable businesses to swiftly establish banking relationships, thus eliminating many of the traditional hurdles associated with securing business accounts.

Enhanced Financial Tools and Solutions

Yuze is dedicated to intelligent banking solutions, and its CEO, Rabih Sfeir, emphasizes that “when banking becomes intelligent, businesses become limitless.” By joining forces with Zand, Yuze aims to deliver cutting-edge, customer-focused banking services tailored for the vibrant entrepreneurial landscape in the UAE. These services include International Bank Account Numbers (IBAN), digital banking solutions, and various tools designed for effective financial management and growth.

In addition to these offerings, Yuze recently introduced the Yuze Freelancer App in India. This app provides freelancers with an easy way to manage finances by allowing users to open a digital wallet quickly, conduct transactions, and keep track of income and expenses—all within a single user-friendly interface. As Sfeir explained, the goal is not solely to provide financial access; it is to foster a partnership that grows alongside entrepreneurs.

The Role of Zand in the Digital Banking Space

Founded in 2018, Zand holds the distinction of being the first fully digital bank in the UAE, receiving accreditation from the Central Bank of the UAE. As a pioneer in the region’s finance sector, Zand employs artificial intelligence and blockchain technologies to bridge traditional banking and decentralized finance. This innovative approach allows them to provide more secure and efficient banking solutions.

Zand has also achieved ISO certifications for its information security and privacy management systems, setting a high standard in the industry, especially in relation to Web3 services. This focus on security and innovation ensures that businesses partnering with Zand can trust their financial data is well-protected.

Conclusion

The partnership between Zand and Yuze signals a significant step forward in the accessibility of digital financial services for SMEs in the UAE. By providing streamlined banking solutions and advanced financial tools, they are set to empower a new generation of entrepreneurs. As the UAE continues to emerge as a hub for innovation and entrepreneurship, collaborations like this will play a crucial role in supporting the growth of small businesses and ultimately contribute to the broader economy. With a commitment to customer-centric solutions, both Zand and Yuze are poised to redefine the banking experience for businesses in the region.