Technology

Alaan, the UAE-based spend management platform, has introduced what it describes as the country’s first AI-native business bank account, developed in partnership with ruya. The launch marks a significant expansion of Alaan’s financial services offering and aims to simplify how businesses manage payments, banking, invoicing, and accounting through a single digital platform.

The newly introduced account combines corporate cards, domestic and cross-border transfers, invoice automation, inbound payments, and accounting integration within one unified workflow. The company said the move supports its broader ambition of becoming the financial operating system for modern businesses across the region.

The announcement follows Alaan’s recent commitment of AED 3 million toward supporting UAE businesses through utility and telecommunications bill payments.

Built using ruya’s Banking-as-a-Service infrastructure, the solution delivers Shariah-compliant digital banking capabilities directly inside Alaan’s spend management ecosystem, allowing businesses to operate without switching between multiple financial platforms.

Alaan stated that the new account introduces several operational efficiencies for companies. Businesses can make both local UAE and international supplier payments from a single dashboard, with cross-border transactions available across more than 40 countries and without transfer fees.

The platform also integrates AI-powered invoice processing, enabling uploaded or emailed invoices to be automatically analyzed. Key information such as vendor details, VAT information, due dates, and line items can be extracted instantly while duplicate invoices are identified before processing.

In addition, the account offers automated approval workflows and accounting synchronization, connecting directly with major accounting systems including Odoo, Zoho, Xero, and QuickBooks. Businesses can also receive customer payments into the same account used for outgoing financial operations.

According to the company, users gain access to unlimited team access and cashback benefits through corporate card usage, creating a centralized experience for finance and operations teams.

Commenting on the launch, Parthi Duraisamy, Co-founder and CEO of Alaan, said the platform was designed to eliminate traditional payment inefficiencies faced by finance teams and reduce processing time from hours to minutes through automation.

The launch comes as the UAE’s business banking sector undergoes rapid transformation. Alaan noted that the country added approximately 250,000 new companies in 2025, contributing to a Middle East business ecosystem exceeding 1.4 million companies, with increasing adoption of digital and AI-led financial services.

Founded in 2022, Alaan has emerged as one of the region’s fast-growing fintech companies. The company recently secured $48 million in Series A funding led by Peak XV Partners and currently serves more than 3,000 finance teams, including organizations such as G42, Careem, Tabby, McDonald’s, and Al Barari.

Christoph Koster, CEO of ruya, said the collaboration aligns with ruya’s mission of delivering ethical, simple, and business-focused banking, while demonstrating how embedded finance can improve efficiency and accelerate growth for UAE companies.

Disclaimer: The Alaan Business Account is issued by Ruya Community Islamic Bank, which is authorised and regulated by the Central Bank of the UAE under the Electronic Money Regulations 2011.

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