#Wio Bank
Jayesh Patel says that the belief that neobanks struggle with profitability is a misconception while noting that digital banks can be profitable with a defined business objectives
Neobanks have reset the paradigm for the traditional banking industry in terms of customer experience, product innovation and pricing
The partnerships seek to introduce members and investors to a range of services, promotional packages, and financing assistance programmes
The partnership to streamline bank account processes for startup founders
The bank allows its customers to digitally create an investor number on the Abu Dhabi bourse and apply for IPO subscriptions
This partnership will help fast-track the account opening process for SMEs and deliver seamless banking services through the Wio Business app
The digital bank offers SMEs seamless access to banking services while allowing them to move forward with innovative beyond-banking services
In addition to banking services, Wio Bank will provide experts and mentors to support startups in Flat6Labs Ignite’s programme
The partnerships with ADIB and RAKBANK will focus on providing ADGM-registered and licensed businesses with preferential banking services
Virtuzone, in collaboration with Wio Bank, will offer entrepreneurs access to banking services through Wio’s SME-focused digital banking application, Wio Business
The new bank will provide solutions in three areas – digital banking apps, embedded finance and banking-as-a-service solutions