The displacement of traditional banks’ dominance in the delivery of financial services has been one of the defining characteristics of the FinTech boom of the 21st century. But while digital banks are popular, consumers generally keep a traditional bank account, too, and in the battle...
Today in Europe, the Middle East and Africa (EMEA), Verto has partnered with Xente to provide payment services to NGOs and the United Arab Emirates gets a new digital bank in Wio. Verto and Xente Team up on NGO Payments The business-to-business (B2B) cross-border payments...
Wio, a government-backed digital bank, has launched in the United Arab Emirates. The bank’s business lines include digital banking, embedded finance and Banking-as-a-Service (BaaS), Reuters reported Tuesday (Sept. 13). Initially, the bank will focus on serving small- to medium-sized businesses (SMBs). “[SMBs] have a lot...
Although not all countries in the Gulf Cooperation Council (GCC) — Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE) — are known for their tech industries or their leadership in digital finance, a closer look reveals that the Arab Peninsula is...
September 13, 2022
Wio, a government-backed digital bank, has launched in the United Arab Emirates. The bank’s business lines include digital banking, embedded finance and Banking-as-a-Service (BaaS), Reuters reported Tuesday (Sept. 13). Initially, the bank will focus on serving small- to medium-sized businesses (SMBs). “[SMBs] have a lot of pain points that have been under-catered to historically for […]
February 11, 2022
The Central Bank of the United Arab Emirates has given the green light to a new digital banking platform backed by state holding company ADQ. As Reuters reported Friday (Feb....
