back Back

Meydan Free Zone partners with Wio Bank to provide digital banking services to license holders

By Leandra Monteiro

November 17, 2022

  • Banking-as-Service
  • Digital Transformation
  • Embedded Finance
Share

Wio Bank, Meydan Free ZoneMeydan Free Zone has partnered with Wio Bank, the region’s first platform bank, to provide digital business banking services to their license holders. The partnership will enable trade license holders of Meydan Free Zone to leverage Wio’s advanced banking solutions that are built around three main capabilities: Digital Banking apps, Embedded Finance and Banking-as-Service (BAAS) solutions.

Wio’s first digital banking application designed for SMEs, Wio Business, offers a wide range of tailored banking services that are built around each client’s needs, helping them automate their admin, be in control of their spending with unlimited virtual cards for their team, create various Saving Spaces for VAT, rent, etc., and focus on growing their business.

Prateek Vahie, Chief Commercial Officer, Wio Bank, said, “Wio’s aim is to enable businesses in the UAE by providing advanced banking solutions to SMEs, entrepreneurs and freelancers. Businesses licensed through Meydan can not only leverage our banking app Wio Business for the seamless banking solutions it offers, but also accelerate their digital and e-commerce ambitions through Wio’s embedded finance and BaaS capabilities. Wio offers an advanced financial platform that aims to empower businesses by creating innovative end-to-end customer solutions and building a collaborative business banking ecosystem in the UAE.”

From their side, Meydan Free Zone said, “Our vision is to further stimulate the economy by attracting more foreign direct investment into the UAE, as well as supporting startups and championing entrepreneurship locally. We are proud to play a key role in enhancing Dubai’s position as a leading hub for trade by attracting business owners committed to commercial growth and success.”

In partnership with the Meydan Free Zone, Wio Business will provide start-ups, freelancers, and small and medium enterprises access to banking services while empowering them with beyond-banking services. The offering was developed in collaboration with customers and built to get SMEs up and sprint by providing accessible and simple banking tools to manage their business better.

To empower the global ambitions of businesses, Meydan Free Zone will soon launch additional services and solutions to continue empowering and supporting Meydan Free Zone Partners, Licensed Companies, and entrepreneurs, creating an ecosystem that delivers all types of facilities, products, and services to ensure holistic growth.

Previous Article

November 16, 2022

Liv., first neobank in the UAE to offer digital IPO subscriptions to customers

Read More
Next Article

November 17, 2022

Fortis acquires Payment Logistics to expand its embedded payments footprint

Read More








IBSi Daily News Analysis

March 22, 2024

Banking-as-Service

Industry experts stress modernization, sustainability, and AI as cornerstones for future of corporate banking, Finastra study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Sindhuja Microcredit secures $14.5m in Series C Funding round

Read More

Today

Pulsate joins the Jack Henry™ Vendor Integration Program

Read More

March 27, 2024

5 Digital banks revolutionising the FinTech landscape in Hong Kong

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023