Tradeling, the MENA’s dominant e-marketplace that focuses on business-to-business (B2B) transactions, has partnered with Wio Bank, the region’s first platform bank, for its tailored business banking solution, Wio Business.
The unique partnership aims to bridge the banking gap and offers innovative banking solutions to merchants, enabling microbusinesses and Small and Medium Enterprises (SMEs) to obtain credits digitally.
Wio Business seeks to offer a next-generation banking solution that is disruptive, data-native, and analytics-driven. Rebooting business banking needs in the digital age, Wio Business’s personalized features seamlessly integrate services built around SMEs’ needs.
SMEs represent 94 percent of the organizations operating in the UAE and makeup over 50 percent of the country’s GDP. Businesses that are operating within Tradeling’s ecosystem and sign up to the bank with Wio Business through Tradeling.com, can access exclusive offerings on the banking app as part of the partnership.
Mr. Marius Ciavola, Chief Executive Officer of Tradeling, and Mr. Prateek Vahie, Chief Commercial Officer of Wio Bank signed the MoU to solidify the new partnership which intends to assist small businesses in the region to digitize their banking needs with a host of benefits.
Marius Ciavola CEO – Tradeling
“As the small and medium enterprise industry is such a significant part of the UAE economy, and as SMEs continue to grow throughout the Middle East, we are delighted to be partnering with Wio Bank for the betterment of the region. In an ever-evolving digital world, Wio’s banking system is bringing forth revolutionary benefits that foster business growth through buying opportunities, while simultaneously advancing the regional economy; this has been one of Tradeling’s key objectives since our inception and we look forward to taking another step in the right direction which helps us contribute to the realization of it.”
Mr. Vahie added that “We are delighted to partner with Tradeling and tap into their vast clientele to offer access to Wio Business’s advanced financial management solutions. At Wio, we are on a mission to simplify banking for the SME community, and by providing them with propositions that take into account the challenges they face and are quintessential to their growth, we want to set a new standard for banking. We look forward to supporting Tradeling’s customers and providing them with exceptional experiences.”
