FEATURE : DIGITAL BANKING
WIO BANK ’ S BUSINESS OPERATIONS REVOLVE AROUND ITS DIGITAL BANKING PLATFORM , CATERING TO FINANCIAL NEEDS OF INDIVIDUALS AND BUSINESSES IN UAE .
agility , scalability , and customer experience by decomposing applications into smaller , independently deployable services .
Coupled with containerised infrastructure , Wio Bank can scale services independently based on demand , optimising resource utilisation and performance during peak transaction periods .
Key IT applications like Mambu for core banking , Paymentology for card processing and issuing , Unity Infotech for international and local transfers , Passfort for onboarding , and Refinitiv for FX trading , among others , form the backbone of Wio Bank ’ s technology infrastructure , enabling secure banking operations .
Integrating technology and CX
Wio Bank excels in several key service areas , leveraging its digital infrastructure and strategic partnerships to offer customers unparalleled banking experiences . Its digital-only approach simplifies banking processes , offering fully digital onboarding for both business and personal accounts while ensuring compliance with regulatory standards .
The bank stands out for its competitive interest rates , providing flexibility with daily interest crediting , thanks to robust core banking fintech solutions and consistent FinOps practices . Wio Bank also secures the best FX rates and offers cost-effective international transfers , minimising reliance on external providers through advanced FX trading tools .
The bank ’ s agile development pipeline allows for rapid feature releases , with around 50 code deployments daily facilitated by cutting-edge technologies like Flutter for mobile development and MixPanel for analytics .
Wio Bank harnesses the power of AI , ML , Gen AI , and LLM platforms to enhance customer experiences and boost operational efficiency . Through sophisticated recommender engines and AI assistants such as ChatGPT , Copilot , and Databricks , the bank streamlines processes , automates tasks , and delivers personalised services to its clientele .
Overall , Wio Bank ’ s strategic alignment of technology with a customer-centric approach brings a fresh perspective to banking services in the region .
Leveraging AI and LLM
Wio Bank utilizes advanced analytics and artificial intelligence to redefine how transactions are monitored , risks assessed , and customer interactions managed . With a sophisticated transaction monitoring system , the bank swiftly identifies outliers , alerting to potential issues promptly .
This system is complemented by a Money Laundering Customer Behaviour risk score , which focuses on assessing the likelihood of products or services being misused . Such predictive capabilities enable the bank to also tailor marketing efforts , offering personalised experiences that resonate with individual customer needs .
Another important aspect is understanding customer interactions , considered to be vital . Through the analysis of communication patterns via platforms like WhatsApp and email , Wio Bank discerns the intent
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