Abu Dhabi, UAE — Wio Bank PJSC has achieved a significant milestone by surpassing AED 50 billion (approximately $13.6 billion) in customer deposits in under three years since its launch. This accomplishment underscores the rapid adoption of digital banking services in the UAE and highlights Wio Bank’s growing influence in the region’s financial landscape.
Rapid Growth and Customer Base Expansion
Since its inception, Wio Bank has experienced remarkable growth. The bank’s total customer base has increased by 72% year-on-year, with personal banking customers rising by 93% and business clients growing by 42%. This surge in customer acquisition reflects a nationwide shift towards app-based banking solutions. Deposits have nearly doubled over the past year, indicating a growing trust in digital-first financial platforms.
Innovative Financial Services
Wio Bank offers a comprehensive suite of financial services designed to meet the needs of both individuals and businesses. These services include:
Saving Spaces: Allowing users to set aside funds for specific goals while earning higher returns.
Wio Invest: Providing access to UAE and global stocks, ETFs, and AI-powered investment options.
Multi-Currency Accounts: Enabling seamless transactions across different currencies.
Salary-Linked Benefits: Offering tailored financial solutions linked to employment.
These offerings cater to the evolving financial needs of the UAE’s digitally savvy population.
Aligning with UAE’s Digital Transformation
The milestone aligns with the UAE’s broader ambition to become a regional fintech hub and a leader in digital innovation. As the country advances its digital transformation agenda, banks like Wio are playing a central role in redefining how consumers and businesses interact with financial services.
Jayesh Patel, CEO of Wio Bank, emphasized the significance of this achievement, stating, “We set out to help UAE businesses and individuals achieve more of their goals by building a platform that is truly born to back you, the customer. This milestone reflects the trust our customers have placed in us and the shift towards digital-first, customer-centric banking.” Gulf Business
