Wamo is a digital business account provider designed for SMEs and growing companies that are often underserved by traditional banking. Operating from Helsinki and London, Wamo offers a business-only and branchless, mobile-first platform featuring EU IBAN accounts, multi-currency support, and team expense management.

As a licensed Electronic Money Institution (EMI), Wamo focuses on eliminating red tape and administrative friction to help businesses trade smoothly across the European Economic Area (EEA).

Today, Wamo processes more than €500 million in transactions per month with more than 13,000 customers in 30+ countries.

The opportunity

Secure, fraud-preventive payments for SMEs

To align with the EU’s Instant Payments Regulation, which introduced VOP as a mandatory requirement for payment service providers (PSPs), Wamo identified a critical need for a robust solution.

The goal was twofold: to provide regulatory certainty and to help their SME clients prevent fraudulent transactions by verifying payee details before payments are initiated.

Wamo required a technology partner that was a market leader, offering an efficient and experienced solution with a quick time-to-market.

Wamo chose Mambu to power its Verification Of Payee capabilities.

Mambu’s payments solution provided the regulatory certainty and technological maturity needed for a "compliance-first" approach with a fully managed Routing and Verification Mechanism (RVM) that integrated seamlessly into Wamo’s existing infrastructure via a single API.

This composable approach allowed Wamo to bypass the complexity of building a custom solution from scratch, instead utilising Mambu’s pre-built connectivity to the SEPA payments ecosystem.

By utilising Mambu’s robust payments infrastructure, the provider was able to integrate the VOP solution far faster than by using traditional methods or other competitors.

The partnership delivered immediate results, with the entire VOP onboarding process completed in less than a week in October 2025. This rapid implementation enabled Wamo to:

• Prevent fraudulent payments: protect business customers from accidental errors and fraud through real-time name-matching checks.

• Accelerate time-to-market and growth: achieve fast and seamless onboarding support millions in monthly transaction volume with enhanced security.

Moving forward, Wamo envisions implementing the wider SEPA payments infrastructure offered by Mambu to further enhance their financial ecosystem.