Mashreq NEO has established a partnership with Kotak Mahindra Bank to provide non-resident Indian (NRI) customers in the UAE with frictionless digital account establishment. This agreement enables Mashreq NEO's UAE-based NRI customers to create an NRE account with Kotak Mahindra Bank in India online, in a quick and easy process.
With this connection, Mashreq NEO users may monitor their Kotak NRE account balance and transfer monies from their Mashreq Neo account to their Kotak NRE account, allowing them to take advantage of the two banks' services and products.
Fernando Morillo, Group Head of Retail Banking, Mashreq, said, “Our collaboration with Kotak Mahindra Bank underlines Mashreq Neo’s dedication to bridging borders and simplifying global financial interactions for our valued NRI customers. This partnership not only offers international banking convenience but is also a testament to our unwavering commitment to innovation, security, and customer-centricity. We believe that in this digital age, banking should be immediate, transparent, and effortless, regardless of geographic boundaries.”
Through host-to-host connectivity, the unified value proposition will enable a smooth procedure that is totally digital, paperless, and functions in real-time, resulting in quick account activation.
Customers of Mashreq may now create a Kotak Mahindra Bank NRE account by connecting to their Mashreq Neo app and completing all of the necessary paperwork online. They may also check the balances of their UAE and Indian accounts, transfer money to their NRE account, and take advantage of Kotak Bank's excellent interest rates on savings.