UAE’s first digital business bank launches
A new digital business bank has been launched in the UAE to support small business owners, reports Jane Connolly.
After 18 months in development, E20 has been unveiled by founder Evans Munyuki, who is group chief digital officer at Emirates NBD.
E20 has been unveiled by founder Evans Munyuki, who is group chief digital officer at Emirates NBD
He says that the inspiration for the new digital business bank – which he claims is the first in the region – came from his own experiences of the frustrations and underserved needs endured by SMEs.
“We, the team that designed and built E20, have empathy and experience running our own start-up businesses,” Munyuki says. “We are passionate digital technologists and we are experienced business bankers with empathy for all three perspectives.”
He adds: “E20 gives differentiated value by helping business owners to: easily open bank accounts; better manage their cashflow; get paid quicker and automate their business finances.”
E20 has launched in an invitation-only beta phase and will open to all new customers once that stage is complete.
In a LinkedIn post, Munyuki thanks his teams at Emirates NBD, “supportive leadership” and the bank’s strategic partners at Motive Partners and Jigsaw.
