Virtuzone, Wio Bank partner to help SMEs with their digital banking needs

Virtuzone has joined forces with Wio Bank, the region’s first platform bank, to support the banking requirements of its clients using the Wio Business solution.

Wio Bank commenced operations in September 2022, bringing three key capabilities of digital banking applications, embedded banking, and banking as a service to the region.

Read: Region’s first platform bank Wio launches in UAE

Paul Bryson, group commercial director at Virtuzone, signed the MoU with Prateek Vahie, chief commercial officer at Wio Bank.

With Wio Business, Virtuzone will enhance business support for its clients, enabling them to open a fully digital corporate bank account within just a few days and without having to visit a physical location.

Wio Business is built to get SMEs up and running quickly by providing easy and simple banking tools to manage their business better.

Bryson said: “We are committed to supporting SMEs and assisting them in every way possible. As the world progresses towards digitisation, our clients are also looking for new ways to modernise their processes. We look forward to working with Wio to help businesses grow by instantly creating digital bank accounts without any physical paperwork or branch visits.”

In addition, George Hojeige, CEO of Virtuzone, commented: “As industries across the UAE undergo digital transformation, the banking sector is no exception. Despite this, many SMEs still rely on brick-and-mortar branches for opening and managing their business bank accounts. With Wio Business, we aim to empower the ambitions of our entrepreneurs through a robust digital financial system that offers cutting-edge banking solutions, laying the foundation for a futuristic economy.”

Prateek Vahie, chief commercial officer at Wio Bank, said: “As businesses evolve to become more digital-first in their approach in response to changing consumer behaviour, banking operating models in the region need to mature as well. In Wio Business, we are offering a fast, easy and flexible banking solution to SMEs that helps them focus on their business and cater to their customers better. We are pleased to partner with Virtuzone to support their clientele with more seamless digital banking tools and services and further accelerate our aim to build a collaborative business banking ecosystem in the UAE.”