Wio Bank announced a groundbreaking partnership with Fiskl, marking a significant step forward in advancing digital banking and AI-powered financial management solutions. This collaboration leverages Wio’s world-class banking APIs to integrate with Fiskl’s advanced AI-driven financial management platform, setting a new benchmark for digital banking and financial management services in the region.

Innovative Digital Banking Solutions and Beyond

Wio transcends traditional banking by not only embracing but leading technological innovation, offering its customers in the UAE an enhanced way to manage their finances. The availability of Wio’s banking API and its direct integration with Fiskl establishes a new standard in digital banking. This collaboration merges reliability with real-time API banking data access and leverages advanced AI-driven financial management to deliver a comprehensive and seamless experience for Wio business banking customers.

Empowering SMEs with AI-Driven Financial Management

Fiskl’s integration with Wio Bank simplifies financial management for SMEs by combining cutting-edge AI technology with real-time API banking data access. This strategic partnership provides Wio Business banking customers with a unified, user-friendly platform that fully automates financial processes, enabling them to optimize their financial operations and make informed decisions more effectively.

Transformative Benefits of the Wio – Fiskl Integration

● Seamless Connectivity: A direct link between Wio accounts and Fiskl’s platform ensures efficient financial management and real-time cash flow overviews.

● Instant Financial Clarity: Real-time transactions keep businesses aligned with their financial status, without the need for manual updates.

● Automated Transactions: Exclusive to Wio, this feature automates internal and cross-currency transfers, simplifying complex financial reconciliation with Fiskl’s AI-based engine.

● Mobile First: The integration provides a comprehensive accounting mobile experience, enabling on-the-go financial management with full Wio Bank sync capabilities.

● Simplified financial flow: Simplifies the process of adding and managing new Wio accounts within Fiskl, enhancing user experience.

Setting up Small Businesses for the Future

The need for modern, compliant financial and accounting tools is paramount for UAE businesses navigating corporate tax and digital tax submissions. Wio, through its partnership with Fiskl, is at the forefront of addressing these requirements, offering businesses the solutions they need to navigate the evolving financial landscape with confidence.

Prateek Vahie, Chief Commercial Officer of Wio, shared his vision: “Wio’s direct integration with Fiskl underlines our commitment to pioneering digital banking solutions and empowering our customers to manage their finances. We continue to work with our partners to develop and provide innovative financial services that make banking easier and more transparent for SMEs.”

Alina Lapusneanu, CEO of Fiskl, remarked, “Our collaboration with Wio is more than a partnership; it’s a pivotal step forward in our quest to make sophisticated financial management accessible to all small businesses. By joining forces with Wio, a leader in banking innovation, we’re enhancing our AI-powered banking to accounting services to better serve the broader UAE market. This ensures that small businesses can navigate the complexities of new financial regulations not just with ease, but with confidence. It stands as proof of the transformative power of technology when aligned with visionary partners.”

Ajman Bank has entered into a strategic partnership with Magnati to enhance the digital payment capabilities of its corporate and business banking clients. Through this collaboration, Ajman Bank will leverage Magnati’s merchant acquiring services to offer secure payment solutions for both online and in-store payments.

With Magnati’s expertise in payment processing and Ajman Bank’s robust banking infrastructure, clients can look forward to a more streamlined and efficient payment experience.

Mr. Mustafa Al Khalfawi, CEO of Ajman Bank, said, “Our collaboration with Magnati will enable us to offer our corporate and business banking clients with state-of-the-art technology and innovative payment solutions. It aligns with Ajman Bank’s strategic vision of fostering innovation and embracing cutting-edge technologies to push boundaries of excellence. We are committed to providing top-tier banking solutions that cater to the evolving needs of businesses to thrive in an increasingly digital economy by supporting their growth and success.”

Mr. Ramana Kumar, CEO of Magnati said, “We are excited to partner with Ajman Bank to implement our advanced merchant acquiring services. Our solution is designed to offer improved experiences and increased efficiency with fast, secure and convenient payment options. With a vast network of partners and state-of-the-art platform, we ensure an efficient connection across the ecosystem.”

Ajman Bank is among the first banks in the UAE to successfully integrate Jaywan card acceptance across its ATM network, facilitating seamless cash withdrawals for Jaywan cardholders.

The Jaywan card, launched by Al Etihad Payments, a subsidiary of the Central Bank of the UAE, is designed to boost efficiency and sovereignty in the national payment landscape by promoting digital transactions in the local currency.

Mr. Mustafa Al Khalfawi, CEO of Ajman Bank said, “We are proud to be one of the first banks in the UAE to accept Jaywan cards on our ATMs. This initiative reflects our dedication to innovation and our commitment to contributing to the UAE’s domestic payments agenda. We are confident that this will enhance the payment experience for Jaywan cardholders while supporting the broader economic goals of the nation.”

Jan Pilbauer, CEO, Al Etihad Payments, said, “Jaywan has been launched in line with a vision to expand the national financial market infrastructure in the UAE.  Jaywan cards are designed to offer convenience for customers of UAE’s Licensed Financial Institutions, being progressively accepted across all payment channels – ATMs, Point of Sale, and eCommerce. Our partnership with Ajman Bank, along with other financial institutions in the UAE, marks a significant step towards enhancing convenience and accessibility for users throughout the UAE.”