Is NEO Biz a separate bank from Mashreq?

No. NEO Biz is Mashreq Bank's digital-only business banking brand. Accounts are held with Mashreq under the same UAE Central Bank licensing framework, with the digital experience optimised for SMEs, free-zone entities, and startups.

Does the integration support multi-currency NEO Biz accounts?

Yes. AED, USD, GBP, and EUR NEO Biz accounts all sync into HIBR ERP, with daily Mashreq FX rates used for period-close revaluation. Multi-currency invoicing in HIBR reconciles against the matching NEO Biz wallet automatically.

Can I open a NEO Biz account from inside HIBR ERP?

Not yet — account opening still happens in the NEO Biz app or web portal. The integration activates the moment the account is funded. We are working with Mashreq on a co-marketed in-app onboarding flow for founders without a UAE bank yet.

Mashreq NEO Biz Integration

Mashreq NEO Biz is the digital-only business banking arm of Mashreq Bank, designed for UAE founders, free-zone licensees, and SMEs who want to onboard, open an account, get cards, and run payroll without setting foot in a branch. NEO Biz has become a default pick for startups in Dubai's free zones (DMCC, DIFC, Dubai South), and Mashreq's investment in digital rails extends to a certified Open Banking API under the Central Bank's Open Finance Regulation, which sits under the wider framework of Federal Decree-Law 14/2018 on payment systems and electronic payment services. HIBR ERP is registered as an accredited Third Party Provider and connects to NEO Biz natively: live multi-currency balances, posted and pending transactions, supplier payouts, and WPS payroll submission — all under OAuth 2.0 consent, with HIBR never holding your NEO Biz credentials.

What this integration does

Multi-currency wallets sync. AED, USD, EUR, GBP NEO Biz wallets all stream into HIBR with sub-minute balance refresh. Each currency has its own GL in HIBR for clean FX revaluation.
Posted and pending transactions. HIBR distinguishes pending from posted so reconciliation doesn't fight itself when a card pre-auth clears later.
Supplier payouts at speed. NEO Biz's instant local-transfer rail (IPP) means supplier payments often arrive in seconds. HIBR pushes the batch, NEO Biz settles, the bill marks paid in HIBR within minutes.
WPS payroll submission. SIF file built in HIBR (MOHRE-compliant); pushed via NEO Biz; approved in the NEO Biz app; ledger updated automatically.
NEO Biz business card sync. Daily card transactions, vendor enrichment, receipt-match to OCR'd uploads — same engine that runs the rest of HIBR.
Audit-ready archives. Statement PDFs and supporting transaction-level CSVs are archived monthly for FTA evidence under Federal Decree-Law 28/2022 on tax procedures.

Setup in 12 minutes

HIBR ERP → Settings → Banks → Add bank → Mashreq NEO Biz. HIBR redirects to NEO Biz's consent page; choose wallets and data scopes.
Biometric approval on the NEO Biz app. Sign once; consent is valid for up to 12 months and renewable.
Initial 90-day sync runs. Pulls last 90 days of transactions and reconciles against existing HIBR entries.
Activate payroll mandate. If you want to push WPS, verify the MOHRE Employer ID and confirm the NEO Biz payroll service is active.
Run a 1 supplier test (optional). Sanity-checks the consent + push flow before live runs.

Use cases

DMCC-licensed crypto-adjacent startup with NEO Biz USD wallet. Bills global enterprise customers in USD, receipts land in NEO Biz USD, HIBR converts using NEO Biz's daily indicative rate and books the AED equivalent for FTA reporting (zero-rated for non-GCC customers under Federal Decree-Law 8/2017 on VAT exports rules).

Dubai-based design agency paying 15 freelancers monthly. Freelancers spread across UAE banks. HIBR builds the IPP batch, the founder approves on the NEO Biz app, payments hit freelancer accounts within minutes, bills auto-reconcile in HIBR.

Abu Dhabi free-zone consultancy with 6 employees. Uses NEO Biz for the entire stack — current account, card, payroll. HIBR runs monthly payroll calculations including end-of-service-benefit accruals under Federal Law 33/2021 on labour relations, generates SIF, pushes to NEO Biz, employees paid on the same day.

Pricing. The Mashreq NEO Biz integration is available on HIBR ERP Pro (499/mo) and Enterprise. Lite supports read-only CSV import. NEO Biz does not charge TPPs for API access; you pay only your standard NEO Biz pricing, plus any WPS or IPP transfer fees per your plan.

Frequently asked questions

How is NEO Biz different from a regular Mashreq business account?

NEO Biz is digital-first: account opening in days, no minimum balance on entry plans, all servicing in-app. The underlying account is a Mashreq Bank account under the same UAE Central Bank licence, so all regulatory protections apply equally.

Does NEO Biz support overdrafts or working capital lines?

Yes — NEO Biz offers digital working capital products that surface inside HIBR as separate sub-accounts. Drawdowns and repayments reconcile against your operating GL automatically.

Can I run NEO Biz alongside Emirates NBD or ADCB?

Yes. HIBR consolidates all connected banks into one daily group cash view. See also Emirates NBD, ADCB Hayyak, FAB Open Banking, and WIO Bank.

Wire NEO Biz to HIBR ERP

Live balances, instant payouts, WPS payroll. Built for free-zone founders and digital-first SMEs. Beta launches October 2026.

Join the waitlist →