UAE’s Wio Bank goes live on Mambu’s cloud banking platform
Abu Dhabi-based challenger Wio Bank has gone live on Mambu’s cloud-native banking platform, enabling it to launch its digital banking services in the region.
Wio Bank taps Mambu for its cloud-native platform
The challenger says it chose Mambu’s API-led cloud platform to achieve a “faster” time to market and launch its financial products “quickly and at scale”.
Its features include streamlined account opening, managing and tracking of expenses and simplified invoicing and payment services for small and medium-sized businesses (SMEs), start-ups and freelancers.
Jointly owned by Abu Dhabi Development Company (ADQ), Alpha Dhabi Holding, Etisalat and First Abu Dhabi Bank (FAB), Wio Bank is regulated by the Central Bank of UAE.
“Wio Bank exists to shift traditional banking operating models to enable digital businesses. On Mambu, we can design and deliver modern financial products and services to our customers to make their lives easier,” says Serge Terentyev, chief technology officer (CTO) at Wio Bank.
“Together, we can take an active role in embedding modern financial services in the region and empowering customers to access banking services effortlessly, while allowing them to do more in their business and personal lives.”
In a second phase, Mambu says it will support Wio Bank with Wio Business, its first digital banking application which was launched in September this year.
