The first platform bank in the region, Wio, has been added to the business setup consultancy Creative Zone’s extensive partner network, it was revealed today. By digitalizing and removing typical pain points experienced by SMEs and entrepreneurs, this alliance is poised to alter the way business banking is done.
Wio is a platform bank that provides advanced banking solutions built around three main capabilities: Digital Banking apps, Embedded Finance and Banking-as-Service (BAAS) solutions.
Its first digital banking application, Wio Business, provides simplified and fully digital business account opening, personalised options and seamlessly integrated services that are built around each client’s needs, helping them automate their admin, be in control of their spend with unlimited virtual cards for their team, create various ‘Saving Spaces’ for VAT, rent, etc., and focus on growing their business.
“Opening a bank account is one of the trickiest things new business owners and SMEs face; with our partnership with Wio, we seek to simplify and optimise our banking services and provide our customers with a fully digital banking experience that is fast and seamless”, said Lorenzo Jooris, CEO, Creative Zone. “With WioBusiness’ features, we will be able to provide our clients with an innovative, engaging, customer-centric experience underpinned by security, transparency and convenience”, added Mr Jooris.
Regulated by the Central Bank of the UAE, Wio is jointly owned by Abu Dhabi Holding Company (ADQ), Alpha Dhabi, Etisalat, and First Abu Dhabi Bank (FAB). In its beta version, the bank has focused on enhancing its support for SMEs and freelancers. It allows you to open your business account fast, automate admin, manage payments seamlessly, and budget for VAT, to name a few. The bank has advanced its online services to suit a tech-loving generation and give business owners their time back.
“As part of our effort to acceleratethegrowth of the UAE’s digital economy, we are delighted to partner with one of the leading corporate solutions providers of the region, Creative Zone. With their support, we look forward to deploying our full innovative banking services and expanding them to key sectors of the UAE economy,” said Prateek Vahie, Chief Commercial Officer of Wio Bank.
Opening a corporate bank account is often seen as a challenge for many new business owners, and addressing this difficulty, Creative Zone’s banking services have become a go-to solution for the region’s start-ups and MSMEs. Creative Zone’s concierge department has bank experts who prepare all documents and liaise with banks on companies’ behalf so that the process will take only a couple of weeks instead of months.
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