Wio Bank boosts cross-border payments speed & tracking
New global clearing partnership expands currencies, boosts payment visibility, and strengthens cross-border offerings across key trade routes.
Summary
As customer expectations and the payments landscape evolved, Wio Bank PJSC (Wio) sought a new global clearing partner to strengthen its offering. By partnering with Standard Chartered, Wio gained access to a broader correspondent banking network and wider currency coverage. It can now offer customers real-time tracking, faster settlement, and a stronger platform for cross-border growth.
Background
Wio is a digital platform bank headquartered in Abu Dhabi, United Arab Emirates. Focused on driving innovation and simplicity, it delivers integrated financial services that help customers save, spend, borrow, manage, and invest through a single platform.
Launched in 2022, Wio supports the growth of small and medium-sized enterprises as well as individuals and families. Its ambition is to help ignite the region’s new economy by delivering intuitive, transparent, forward-looking banking experiences.
Results
- By appointing the Bank as its global clearing provider, Wio can tap on the Bank’s payment execution accuracy of 99.9997 per cent, which helps improve the efficiency and reliability of customers’ cross-border transactions.
- Wio has strengthened its foundation for cross-border growth, supporting both its own expansion and that of its customers, particularly in emerging markets.
- The partnership also gives Wio access to relevant business and regulatory insights across both current and future markets.
Our partnership with Standard Chartered has enabled us to offer customers real-time tracking, enhanced transparency, and faster settlement times, particularly across USD, EUR, and GBP corridors.Prateek VahieChief Commercial Officer, Wio Bank PJSC
Client challenges
Wio built a strong customer base quickly after launch. Over the same period, the global payments landscape evolved rapidly, along with customer expectations.
As Wio expanded its reach, it saw an opportunity to further enhance its cross-border payment capabilities across a broader range of currencies. At the same time, growth into new markets required navigating fragmented infrastructure and diverse regulatory environments.
To support its ambitions and deliver an even stronger customer experience, Wio sought a global clearing partner with extensive network reach and deep correspondent banking expertise.
Solution
Wio selected Standard Chartered to enhance its global payments proposition, with an initial focus on clearing major currencies such as USD, EUR, and GBP. The Bank’s recognition as the number one bank globally for client servicing in these currencies (as surveyed by FImetrix in 2025) reinforced Wio’s confidence in the partnership. As a result, Wio can now offer customers real-time tracking, greater transparency, and faster settlement.
These capabilities help Wio’s customers operate with greater confidence and efficiency across international markets. They also provide a stronger platform to support future growth, especially as customers expand into emerging markets.
The Wio team is also kept at the forefront of relevant developments through the Bank’s sharing of best practices and insights on product, industry, and regulatory changes across markets.
We value Standard Chartered for its deep correspondent banking expertise and for its industry-leading capabilities, which can continue to adapt and evolve with the needs of our customers.Prateek VahieChief Commercial Officer, Wio Bank PJSC
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