Latest news with #WioBankPJSC
Zawya
14-04-2025
- Business
- Zawya
Wio Bank launches salary plan with market-leading 6% interest on savings to enhance financial wellness
Abu Dhabi, UAE: Wio Bank PJSC, the Middle East's first digital financial platform, announced the launch of the Wio Personal Salary Plan, a new banking plan offering salaried individuals in the UAE a market-leading 6% interest rate on their savings and significant benefits to enhance their financial wellness. Financial wellness has emerged as a key priority for professionals in the UAE, with financial stress widely recognized as a factor affecting workplace productivity, mental health, and overall life satisfaction. Salaried individuals are increasingly seeking banking solutions that do more than just store their income. The Wio Personal Salary Plan addresses these concerns by transforming how employees interact with their primary source of income, turning standard salary accounts into tools for financial growth and stability. The Wio Personal Salary Plan converts a standard salary account into a comprehensive financial wellness tool. It offers 6% interest per annum on Fixed Saving Spaces—one of the highest in the UAE—and 3% interest per annum on current account balances, making Wio the first bank in the country to offer interest on everyday balances. These features enable automatic wealth building, creating a foundation for improved financial wellness without requiring active management. Jayesh Patel, CEO of Wio Bank PJSC, said: "In today's fast-paced economy, bank accounts should do more than just hold money—they should create opportunities for growth. People work hard for their income – we believe their earnings should work equally hard for them. We designed the Wio Personal Salary Plan to transform how people build wealth automatically with every paycheck, even when they're not actively managing their finances. This innovation directly supports our strategic mission to create financial tools that generate measurable value and empower customers to achieve greater financial security." The plan integrates multiple financial wellness components in one solution. Through one easy-to-use app, customers can save up to 3.5% on global transactions with multi-currency accounts in USD, EUR, and GBP, enjoy up to 2% cashback on credit card spending (up to AED 2,500 per month), and seamlessly invest in over 2,500 UAE and US stocks, ETFs, and cryptocurrencies. This holistic approach addresses key aspects of financial wellness—from daily money management to long-term wealth building—with a hassle-free digital account opening process that requires no paperwork. Available to those earning AED 15,000 or more monthly, the Wio Personal Salary Plan supports the UAE's vision for financial well-being and digital advancement. Companies partnering with Wio can offer their employees special access, providing an accessible financial wellness benefit at no cost to employers. In alignment with the UAE's broader vision of financial empowerment and inclusion, Wio Bank aims to support residents in building long-term financial wellness. By offering an innovative, high-yield banking solution, Wio Bank is contributing to the country's economic development by encouraging smarter saving habits, enhancing digital banking adoption, and reinforcing the UAE's position as a leader in fintech innovation. About Wio Bank PJSC: Wio Bank PJSC, the Middle East's first digital financial platform, is reimagining 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 combines cutting-edge technology with a human-centric approach to deliver seamless, personalised financial solutions. For personal banking, Wio offers smart tools and insights to help users take control of their finances, enabling them to save, spend, and grow with ease. For businesses, Wio goes beyond traditional banking by providing entrepreneurs and SMEs with a comprehensive digital platform designed to streamline operations, unlock growth opportunities, and simplify financial management. Wio is redefining the banking landscape as a market leader in Banking-as-a-Service (BaaS) and embedded finance, delivering innovative solutions that empower people, businesses, and communities with the infrastructure they need to access long-term wealth creation. By offering an end-to-end, frictionless digital platform for both retail and business customers, Wio is disrupting traditional banking models, creating operational efficiencies, and unlocking value-added services through a transparent, personalised customer experience. Wio Bank's commitment to innovation has been widely recognized, being named '#1 Fintech in MENA' by Forbes Middle East and 'Digital Bank of the Year' at both the E-Business Awards 2024 and Tech Innovation Awards 2024. The bank has also received 'Best Retail Banking Digital App Experience' award, 'SME Bank of the Year' award, and 'Intelligent Banking and Finance Implementation' award. Additionally, Wio's leadership excellence was acknowledged with inclusion in the Top 34 GCC Banking CEO Power List 2024 by Finance Middle East. For more information, visit
Campaign ME
03-03-2025
- Business
- Campaign ME
The Marketing Society expands GCC leadership to drive regional growth
The Marketing Society has revealed key leadership appointments as part of its strategic expansion across the GCC region, marking a significant milestone in the society's mission to champion marketing excellence and strengthen its influence across the region. Mohammed Ismaeel Hameedaldin, Partner at TOUGHLOVE Advisors and current Dubai Chair, has been appointed Chair, GCC, for The Marketing Society, leading the expansion across the region. Hameedaldin brings deep regional expertise and a visionary approach to this new role. Meanwhile, Amina Taher, CMO, Wio Bank PJSC and current Chair, Abu Dhabi, will assume the position of Chair, UAE, overseeing both Dubai and Abu Dhabi. Taher has been instrumental in elevating the marketing profession in Abu Dhabi, and the society believes that her strategic leadership will be key to shaping its continued growth in the Emirates. To further support this expansion, Faheem Ahamed, Group CMO, G42 in Abu Dhabi, and Aly Tawfik, Area Marketing Director, Red Bull in Dubai will support Amina as Vice Chairs. Additionally, former Chair, UAE, Khaled Ismail, CEO and Partner, TOUGHLOVE Advisors will take on a newly created global role as Chair of International Hubs, designed to enhance collaboration across key markets, including Hong Kong, Singapore, New York and the GCC. This role, introduced by CEO Sophie Devonshire, reflects the commitment to global connectivity and growth. Commenting on the leadership appointments, Sophie Devonshire, CEO, The Marketing Society, said: 'We are incredibly excited about our new leadership team in the GCC. The impact Khaled has made on the Society is immeasurable and he's been instrumental in shaping our success. His passion, ideas, and leadership have helped build this community from a few dozen members to a 550+ strong community. He is the perfect Changemaker to help drive our vision forward globally.' Devonshire added, 'Mohammed and Amina have done an outstanding job in their previous roles as Chairs in Dubai and Abu Dhabi and I am excited to see how they can further expand our Society's influence across the region.' The Marketing Society community continues to grow and now has more than 550 members in the GCC, marking 360 per cent growth in four years. Through the network; a programme of 30 physical events; training programmes, including the UAE Scholarship; their gender equality initiative THINK EQUAL; GCC Awards; Sustainability Squad, and more, the society aims to grow marketing's positive impact on business.
Zawya
27-02-2025
- Business
- Zawya
Wio Bank grows over AED 37bln in balance sheet in second full year of operations
Net Profit grew to nearly AED 400M (nearly 200 times Year-on-Year growth) Industry-leading Net Promoter Score (NPS) of 74 Abu Dhabi, UAE – Wio Bank PJSC has established itself among the top 10 most profitable neobanks globally and a leading UAE bank for retail and SME deposits – all within just two years of its full-scale launch. Based on Wio's financial performance metrics compared to C-Innovation Market Research's 2024 global neobank profitability report and analysis of available segmental disclosures, the bank has transformed from market entrant to market leader. With over AED 37B in balance sheet size as of December 31, 2024, representing a growth of nearly 3x Year-on-Year (YoY), Wio has emerged as a leading example of how digital-first, customer-focused models can meet the needs of a modern customer base while reshaping the financial sector. 'Our solid 2024 results reflect our commitment to the UAE economy by supporting entrepreneurs and businesses across the country to build and scale. In just over two years, we have become the preferred bank for new businesses and one of the largest business banks in the UAE, with over 90,000 businesses choosing us. Our personal proposition has scaled significantly, providing customers a strong offering to build, manage, and grow their wealth on a centralized and empowering platform. We continue to build one of the fastest profitable franchises that delivered market-leading NPS of 74, setting the foundations for customer-centric innovative growth to come," states H.E. Salem Al Nuaimi, Chairman of the Board at Wio Bank PJSC. Wio's rapid ascent represents a decisive market shift, challenging established banking models while setting new standards for digital financial platforms worldwide. As traditional institutions navigate digital transformation, Wio has implemented an approach that has propelled it past established competitors. Jayesh Patel, CEO of Wio Bank PJSC, says: 'In 2024, we continued our trajectory of growth, offering customers seamless, empowering, and rewarding banking across both the business and retail franchise, adding over 140,000 customers during the year. We solidified our financial performance, generating over AED 800M in revenues and nearly AED 400M in post-tax profits." He continues: "We introduced several innovative business offerings allowing micro to large SMEs to use Wio as a platform to fuel their growth, including supply chain financing and credit products. Our personal banking app scaled significantly offering everything money in one place. We've expanded our wealth management capabilities, enabling customers to access UAE and US equities and ETFs, transfer existing portfolios to Wio, and invest in top cryptocurrency assets through secure channels—all managed from a single centralized app. We continue to invest in our capabilities to become the wealth-centric bank for our customers, enabling them to get the most out of managing their everyday money while building their wealth for a better tomorrow." Wio's success is powered by its platform banking approach, enabling seamless financial integrations across key industries. The bank has strengthened its ecosystem through strategic partnerships with healthTech, aggregators, payment and accounting platforms, while deepening engagement with mainland and Freezone trade licensing authorities to streamline banking for SMEs. Additionally, Wio has supported record numbers of local IPOs, providing individuals with seamless access to investment opportunities. These initiatives collectively drive financial inclusion and business growth across the UAE. "Our 2024 financial performance demonstrates the strength of our business model, scalability and operational efficiency," affirms Prakash Sunkara, CFO of Wio Bank. "Reaching over AED 37B (USD 10B) in balance sheet size represents a significant milestone in such a short timeframe for any bank. We've delivered this alongside a Year-on-Year deposit growth of over 200%, while maintaining an industry-leading cost-to-income ratio of 44%. Our revenue-mix is well balanced with nearly 45% of our total revenue earned through subscriptions and fees, while the other 55% is earned from net interest income. This reflects strong customer engagement and increased adoption across remittances, cards, and deposits. As a cloud-native digital platform, we continue to focus on costs and scalability resulting in a net profit of nearly AED 400 million. These metrics place us among the most efficient and profitable banking operations in the region." The bank's exceptional performance underscores the UAE's progressive regulatory framework and national vision, demonstrating how forward-thinking policies enable market-changing outcomes with global significance. About Wio Bank PJSC: Wio Bank PJSC, the Middle East's first digital financial platform, is reimagining 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 combines cutting-edge technology with a human-centric approach to deliver seamless, personalised financial solutions. For personal banking, Wio offers smart tools and insights to help users take control of their finances, enabling them to save, spend, and grow with ease. For businesses, Wio goes beyond traditional banking by providing entrepreneurs and SMEs with a comprehensive digital platform designed to streamline operations, unlock growth opportunities, and simplify financial management. Wio is redefining the banking landscape as a market leader in Banking-as-a-Service (BaaS) and embedded finance, delivering innovative solutions that empower people, businesses, and communities with the infrastructure they need to access long-term wealth creation. By offering an end-to-end, frictionless digital platform for both retail and business customers, Wio is disrupting traditional banking models, creating operational efficiencies, and unlocking value-added services through a transparent, personalized customer experience. Wio Bank's commitment to innovation has been widely recognized, being named '#1 Fintech in MENA' by Forbes Middle East and 'Digital Bank of the Year' at both the E-Business Awards 2024 and Tech Innovation Awards 2024. The bank has also received 'Best Retail Banking Digital App Experience' award, 'SME Bank of the Year' award, and 'Intelligent Banking and Finance Implementation' award. Additionally, Wio's leadership excellence was acknowledged with inclusion in the Top 34 GCC Banking CEO Power List 2024 by Finance Middle East. For more information, visit
