Wio Bank, the UAE-based digital banking platform, has achieved a significant milestone by surpassing AED 50 billion in total customer deposits in less than three years since its inception. This rapid accumulation of assets highlights the growing consumer and business confidence in digital-first financial solutions within the region.
Rapid Customer and Deposit Growth
The platform’s impressive growth is underscored by a 72% year-on-year increase in its total customer base. This surge was led by a 93% rise in Wio Personal customers and a strong 42% growth in its Wio Business segment. In parallel, customer deposits have nearly doubled over the same period, signaling a strong market appetite for innovative ways to manage savings, spending, and investments.
Driving the Shift to Digital-First Banking
Wio’s success points to a broader trend of customers embracing digital platforms for their primary banking needs. The bank’s offerings, which include competitive savings tools, salary-linked benefits, and multi-currency accounts, are designed to cater to these evolving demands. This achievement reflects the increasing trust customers are placing in secure and user-centric digital banking ecosystems.
“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,” said Jayesh Patel, CEO of Wio Bank PJSC. “This milestone reflects the trust our customers have placed in us and the shift towards digital-first, customer-centric banking.”
Empowering Wealth Management
A key driver of Wio’s deposit growth is its suite of tools designed to help customers manage and grow their wealth. Features like Saving Spaces allow users to set aside funds while earning attractive returns. Furthermore, Wio Invest provides access to UAE and global stocks, ETFs, and AI-assisted investment options, enabling customers to plan for significant life goals such as retirement, property purchases, or education expenses.
About Wio Bank
Wio Bank is a UAE-based digital banking platform that provides a full suite of financial services for both individuals and businesses. Launched in 2022, the platform is committed to delivering seamless, transparent, and customer-centric banking solutions that contribute to the UAE’s vision of a digitally enabled economy.
Source: Fintech News AE
