State-backed digital bank Wio launches in UAE

DUBAI: State-backed digital bank Wio announced on Tuesday it had launched in the United Arab Emirates and would focus initially on small and medium enterprises (SMEs) while eyeing an eventual public listing.
Wio, which calls itself a “platform bank,” has three main business lines: digital banking apps, embedded finance and banking-as-a-service, the provision of banking through third-party distributors.