Abu Dhabi-based Wio Bank announced that its digital banking services is now enabled by Mambu’s API-driven cloud banking platform.
Wio Bank first launched Wio Business, a subscription-based digital business banking application, in the UAE in September 2022 to serve startups, freelancers, and SMEs
The app includes services such as account opening, expense tracking and management, and invoicing and payment services.
According to Mambu research, UAE consumers are the most likely to pay a premium for financial services that offer greater flexibility (74%) and that save them time (68%).
Headquartered in Amsterdam, Mambu opened its office in Abu Dhabi in 2020 to expand its reach in the Middle East. The company also launched a new SME financing product in mid-2021.
“Wio Bank exists to shift traditional banking operating models to enable digital businesses. Together we can take an active role in embedding modern financial services in the region,”
said Serge Terentyev, Chief Technology Officer at Wio Bank.
“Wio Bank is paving the way for a new era of world-class banking experiences in the UAE. The company is firmly focused on improving user experiences and catering to an audience that’s digitally savvy,”
said Miljan Stamenkovic, General Manager MENA at Mambu.
