Dubai, The United Arab Emirates, October 14, 2025 – Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, has signed a memorandum of understanding (MoU) with Wio Bank, the Middle East’s leading digital financial platform, to accelerate innovation across cloud computing, AI, and fintech on the sidelines of GITEX Global 2025. Marking a significant step forward for the region's fintech sector, the collaboration demonstrates the commitment of both entities to integrating cutting-edge AI to transform banking services.
The strategic collaboration strengthens Wio Bank’s multi-cloud strategy and fast-tracks the adoption of generative AI, by leveraging Alibaba Cloud’s advanced Qwen large language model, Platform for AI (PAI), and agentic platforms. Together, the companies will co-create AI-powered banking agents to enhance operations and elevate customer service – securely hosted on Alibaba Cloud’s data centers in Dubai – for greater scalability, efficiency, and speed to market.
“This partnership reflects our continued commitment to delivering smarter, faster, and more secure solutions for our customers,” said Jayesh Patel, CEO of Wio Bank PJSC. “AI is a key pillar of our vision for the future of banking, and by scaling our capabilities with Alibaba Cloud’s advanced technologies, we are building intelligent agents that simplify operations and empower our customers to grow, thrive, and achieve more in a safe and secure way.”
Eric Wan, Vice President of Alibaba Cloud International and General Manager of the Middle East, Turkey, and Middle Asia at Alibaba Cloud Intelligence said: “We are delighted to announce our collaboration with Wio Bank by providing our advanced Qwen LLM and comprehensive AI platform to drive AI-powered innovation in the Middle East’s financial sector. Wio Bank’s forward-thinking approach to digital banking aligns perfectly with Alibaba Cloud's mission to empower businesses with cutting-edge technology. This collaboration reflects our unwavering commitment to supporting the digital transformation of the fintech sector in the region and globally.”
Alibaba Cloud has been a leading provider of cloud services to private companies and public institutions in the UAE and the wider Middle East region since 2016. The company boasts a robust local ecosystem in the Middle East region with customers spanning the banking, financial services and insurance, media and public sectors, as well as local partners across sectors.
Wio Bank PJSC, the Middle East’s leading digital financial platform, is disrupting banking for individuals and businesses. Headquartered in Abu Dhabi and backed by strategic investors including ADQ, Alpha Dhabi, e&, and First Abu Dhabi Bank (FAB), Wio unifies digital banking through a simple to use, in-one-place, customer-centric platform, helping achieve financial goals.
For personal banking, Wio offers smart tools and insights that help users take control of their finances, enabling them to save, spend, and invest with ease. For businesses, Wio goes beyond traditional banking, providing a comprehensive digital platform designed to scale with them and simplify financial management.
As the region’s leading digital financial platform, Wio delivers innovative Banking-as-a-Service (BaaS) and embedded finance solutions that empower people, businesses, and communities to achieve their financial goals.
For more information, visit http://www.wio.io/
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