Wio Bank, ADGM to improve banking journey for SMES

ABU DHABI: Wio Bank, the region’s first plaorm bank, on Tuesday announced a partnership with Abu Dhabi Global Market (ADGM), the international financial centre of the UAE’S capital, to bolster collective efforts to support small and mediumsized enterprises (SMES) in the UAE to gain access to key banking services quickly and efficiently.

With this partnership, Wio will extend its Wio Business plaorm to SMES registered with ADGM and provide them with fast-tracked application submission, in addition to a slew of benefits including the opportunity to open a Zero Balance account with a one-month free trial, free debit card and cheque book, virtual debit cards, invoicing features and one of the best foreign currency conversion rates for international outward and inward remiances.

Separtnership apart is the fact that through API integration between both parties, customers do not have to upload any company documents such as the trade licence, Memorandum of Association, shareholder passport and other details about the company for verification - making the customer journey seamless and more efficient.

Speaking of the partnership, Mona Walid, Chief People Officer and Head of Strategic Partnerships at Wio Bank, said, “At Wio, we strive to deliver the utmost convenience to the SME community to help them accelerate their business growth.

We do this by tying up with like-minded partners that are commied to driving the government’s vision to empower SMES, while also standing shoulder-to-shoulder with our customers. Through our collaboration with ADGM, we will further ramp up our efforts to provide seamless access to financial services to SMES, entrepreneurs, and freelancers, and facilitate their growth journey.”

Dhaher bin Dhaher Al Mheiri, CEO of ADGM Registration Authority said, “We are delighted to partner with Wio Bank, the region’s first digital banking plaorm in Abu Dhabi to foster the growth of the rapidly evolving SME ecosystem in the country and further bolster financial services activities. This agreement is an extension of our ongoing commitment to reinforce the capital’s positioning as a global financial services hub, while simultaneously supporting the backbone of UAE’S economy — the SMES.