Mashreq has officially launched NEO BIZ in Pakistan, introducing a digital banking proposition designed to serve small and medium-sized enterprises (SMEs), sole proprietors and self-employed professionals. The platform aims to simplify business banking, improve access to financial services and support the growth of businesses through integrated digital solutions.
Pakistan’s SME Sector Presents Significant Digital Banking Opportunities
Pakistan has approximately 7.14 million micro, small and medium-sized enterprises (MSMEs), contributing nearly 40% of gross domestic product (GDP), 30% of exports and employing more than 80% of the non-agricultural workforce.
Despite their economic contribution, many businesses continue to face challenges in accessing formal financing and suitable financial services. As of December 2025, outstanding SME financing stood at approximately PKR 882 billion, highlighting the opportunities to expand access to credit and improve financial inclusion.
NEO BIZ is positioned to address some of these gaps by providing businesses with digitally enabled banking services and tools to manage their financial operations more efficiently.
NEO BIZ Brings Business Banking and Payments Into One Platform
The new proposition combines digital business banking, payments, collections and value-added services within an integrated ecosystem.
Eligible businesses can open and manage accounts digitally, reducing reliance on branch visits and simplifying routine financial transactions.
The platform’s broader development roadmap includes business debit and virtual cards, payroll solutions, invoice-based payments, transaction analytics and bookkeeping capabilities. These services are intended to support businesses as their financial and operational requirements evolve.
By bringing multiple functions together, Mashreq aims to reduce the fragmentation of financial tools and make day-to-day business management more convenient.
Mashreq Sees Pakistan as a High-Potential Digital Banking Market
Fernando Morillo, Group Head of Retail Banking at Mashreq, said digital-first banking models could transform business operations by improving efficiency, transparency and access to financial services.
He said NEO BIZ builds on Mashreq’s international experience and combines commercial banking capabilities with a scalable platform designed around SME requirements.
Morillo described Pakistan as a high-potential market and said the launch marked an important step in extending the bank’s global business banking proposition into the country’s rapidly evolving digital economy.
Local Platform Targets Underserved Businesses
Muhammad Hamayun Sajjad, CEO of Mashreq Bank Pakistan, said the country’s SME sector remained dynamic but underserved, with gaps in access, awareness and digital capabilities.
He said NEO BIZ had been developed to address the realities of the local market by simplifying banking, reducing dependence on physical channels and supporting businesses as they expand.
According to Sajjad, the launch aligns with Mashreq’s commitment to Pakistan and its broader objective of promoting financial inclusion and economic transformation through digital innovation.
Banking-as-a-Service to Expand the NEO BIZ Ecosystem
Beyond core banking, Mashreq plans to develop NEO BIZ into a connected business ecosystem through Banking-as-a-Service (BaaS) capabilities and strategic partnerships.
The phased roadmap includes potential integration of bookkeeping, supply chain solutions, tax facilitation, analytics, invoicing and cash flow-based financing.
These planned capabilities are intended to help businesses manage operational complexities, improve efficiency and access services suited to different stages of growth.
Syed Jaffar Abbas Shirazi, Head of NEO BIZ at Mashreq Bank Pakistan, said the platform was designed to address challenges such as fragmented financial tools, limited visibility of available products and barriers to financing.
He said the objective was to bring business financial operations into a single integrated platform, combining digital account opening and payments with tools such as analytics, invoicing and bookkeeping.
The planned expansion could position NEO BIZ as more than a conventional banking service by connecting businesses with a broader range of operational and financial solutions.
Digital Distribution to Expand Access Across Pakistan
Mashreq plans to distribute NEO BIZ through digital channels, strategic partnerships and physical-digital, or phygital, touchpoints.
The approach is intended to improve accessibility across Pakistan’s diverse SME base while allowing the bank to expand its reach within the business community.
Through the launch, Mashreq aims to encourage greater adoption of digital financial services, strengthen digital payment acceptance and support entrepreneurs and self-employed professionals.
The initiative also reflects the broader opportunity to bring more businesses into the formal digital economy through accessible banking services, integrated financial tools and technology-led solutions.