Verto on Monday announced its official launch in the United Arab Emirates (UAE), marking a significant expansion of its global footprint.
The company, which processes over $25 billion annually for clients including Unilever and Maersk, aims to simplify cross-border payments between the UAE and key emerging market currency corridors, particularly in Africa.
Through its innovative platform, Verto provides businesses with a faster, more secure, and cost-efficient solution for managing high-value, time-sensitive international transactions.
“The UAE is a pivotal hub for global commerce, and businesses here demand solutions as dynamic as their operations,” says Helen Ghebreluul, Verto’s UAE country manager. “Our platform is built to handle the high-value, time-sensitive nature of these transactions, particularly in emerging markets in Africa. We’re not just a service; we’re a critical partner, ensuring that a company’s payments move as fast and reliably as their business.”
Verto’s platform combines local operations in the UAE with robust payment rails across key markets, offering a best-in-class workflow.
This unique model is particularly beneficial for businesses trading along key corridors, including the UAE to Nigeria, Kenya, South Africa, West Africa, and China.
Businesses using Verto’s solutions can expect to experience:
- Fast settlement: The platform enables instant or near-instant payments, which is vital for a sector where delayed payments can stall the entire supply chain. Verto’s efficient payment rails allow for settlements in hours rather than days.
- FX risk management: Verto provides competitive and transparent foreign exchange (FX) rates, offering businesses hedging options and flexibility. For instance, companies can lock in favorable rates to protect against currency volatility. The platform also features a multi-currency account to hold money in different wallets and an Auto Exchange feature to automatically execute trades at an ideal rate.
- Transparency and traceability: The platform allows users to track payments from end-to-end, reducing issues where payments are lost in transit. It also eliminates hidden fees and spreads often associated with traditional banking.
“Businesses are the lifeblood of global supply chains, but they face constant challenges from currency volatility and slow, traditional payment systems,” says Ola Oyetayo, CEO and co-founder of Verto. “Verto empowers these businesses by giving them the tools to mitigate FX risk, accelerate settlements, and optimize their cash flow. We believe in providing global reach with local strength, leveraging our expertise in key emerging markets to ensure that wherever a company’s goods go, their payments follow instantly and securely.”
Verto’s Dubai branch, which has an expanding team, is located in the Emirates Financial Tower, DIFC, Dubai, UAE.
Verto is authorized by the Dubai Financial Services Authority for providing money services, advising or arranging money services, and carrying on authorized Financial Services with or for Retail Clients Holding or Controlling Client Assets.
