How does your bank define or categorise SMEs?
SMEs are the backbone of the UAE economy, accounting for more than 94% of businesses and playing a crucial role in employment generation and economic diversification. At Wio Bank, we take a business-needs-first approach rather than relying solely on conventional metrics like revenue or headcount.
We primarily serve micro, small and medium-sized enterprises that require agile, digital-first financial solutions to manage and scale their businesses. Our customers range from freelancers and solopreneurs to established SMEs looking for efficient banking, embedded financial tools and seamless access to capital. By focusing on their real-world operational needs, rather than applying a one-size-fits-all definition, we ensure that our products and services truly support their business growth.
Where does SME business rank in your bank’s overall business landscape?
Unlike traditional banks, where SME banking is often considered a secondary focus, SMEs are at the heart of Wio Bank’s strategy. We launched Wio Business specifically to address the financial challenges faced by SMEs, startups and entrepreneurs. This segment is not just a business vertical for us—it’s one of the primary reasons Wio was created.
The UAE government has been proactively supporting SME growth, with initiatives such as the National SME Programme and the Abu Dhabi Economic Vision 2030 reinforcing the role of small businesses in driving the economy forward. At Wio, we align with this vision by eliminating barriers to banking for SMEs, embedding financial services into their daily operations and providing digital tools that help them scale efficiently. Our focus is on simplifying business banking, providing smarter financial insights and ensuring that SMEs can access financial services as seamlessly as possible.
What initiatives do you have or are you implementing to attract SMEs to do their banking with you?
We approach SME banking differently, focusing on integrated financial solutions rather than standalone banking products. Our key initiatives include:
First, frictionless digital onboarding—we make it simple for businesses to open accounts without unnecessary paperwork. SMEs can set up their banking in minutes, rather than waiting weeks for approvals. This is a game-changer for businesses that need to move fast.
Second, embedded finance and ecosystem partnerships. SMEs use multiple platforms—whether for accounting, invoicing, payroll or e-commerce. Instead of forcing them to use separate banking tools, Wio integrates financial services into these platforms. For example, businesses using accounting software can seamlessly sync their Wio Business accounts, eliminating manual reconciliation.
Third, tailored lending solutions. Many SMEs struggle to access credit because traditional banks rely on rigid lending criteria that do not consider real-time business performance. Wio is pioneering data-driven lending models, assessing business cash flow dynamically rather than requiring extensive financial history. This enables SMEs to access working capital when they need it, without the friction of lengthy approval processes.
Beyond these initiatives, we continue to refine and expand our offerings based on direct feedback from SMEs, ensuring that Wio Business evolves in step with the needs of the UAE’s entrepreneurs and small businesses.
What currently are the most requested services that SMEs are asking of regional banks?
SMEs today expect banking to be seamless, integrated and technology-driven. The most in-demand services revolve around three key areas:
First, fast and flexible access to working capital. SMEs need financing solutions that match their cash flow cycles, rather than rigid loans with complex approval processes. They want instant access to funds, with approvals based on real-time revenue performance rather than outdated financial statements.
Second, streamlined payments and transaction capabilities. Businesses need efficient, low-cost cross-border payments, automated payroll solutions and digital invoicing tools. The demand for real-time payments is growing, and SMEs expect their banks to provide instant settlement options rather than waiting days for transactions to clear.
Third, real-time financial insights and automation. Entrepreneurs want banking solutions that do not just store their money, but actively help them manage it. This means automated expense tracking; cash flow projections and AI-powered insights that help them make better financial decisions. The ability to integrate these insights with accounting software is now a baseline expectation, not a premium feature.
Is competition for SME business broadening risk appetites amongst regional banks?
There is no doubt that the SME banking landscape is becoming more competitive, but the real shift is in how banks assess and manage risk rather than simply increasing risk appetite. At Wio, we do not believe in applying the same credit evaluation methods used for large corporations to SMEs. Instead, we leverage real-time transactional data, cash flow analytics and industry insights to make more informed lending decisions.
Many SMEs struggle to secure financing because they do not have a long credit history. Traditional banks often require extensive documentation, which can be a barrier for young businesses. Wio takes a different approach, focusing on business activity rather than legacy credit reports. The goal is not to loosen credit standards but to use technology and alternative data sources to improve credit decision-making. This allows us to expand access to financing while maintaining a responsible approach to risk management.
How is technology and AI assisting banks to offer increased help and opportunities for SMEs?
Technology is reshaping SME banking, making financial services faster, smarter and more accessible. AI plays a key role in this transformation, particularly in three areas:
First, AI-driven financial insights. SMEs often lack dedicated finance teams, which makes managing cash flow a challenge. AI helps by automating forecasting, tracking expenses and identifying potential financial risks before they become problems. Instead of manually checking balances, business owners can receive real-time alerts on upcoming expenses, late payments or cash shortages.
Second, automated banking operations. Many SME owners spend too much time handling administrative tasks like invoicing, reconciliation and payroll. AI-powered automation eliminates much of this manual workload, allowing businesses to focus on growth rather than day-to-day financial management.
Third, AI-driven credit assessments. Traditional lending models often overlook SMEs, particularly newer businesses without extensive credit histories. AI enables banks to assess risk dynamically, using real-time revenue patterns rather than outdated financial statements. This makes it possible to offer financing to businesses that would otherwise be excluded from the traditional banking system.
Additionally, AI is strengthening fraud detection and cybersecurity, helping SMEs protect their financial assets from potential threats. AI-powered fraud prevention tools analyse transaction patterns in real time, flagging suspicious activity instantly. As SMEs become more reliant on digital transactions, having built-in security measures is a critical part of the banking experience.
Conclusion
SMEs are the driving force behind the UAE’s economy, and Wio is committed to transforming the way they access and manage financial services. By combining technology, embedded finance and a customer-first approach, we are building a banking ecosystem that not only simplifies financial management but also empowers SMEs to scale and succeed. As the region’s SME sector continues to grow, the role of digital-first, insight-driven banking solutions will be more critical than ever. Wio is not just keeping pace with this shift—we are leading it.
