Wio Bank

What Wio Bank does

Wio Bank PJSC is a UAE-licensed digital bank headquartered in Abu Dhabi, launched in September 2022 as the region's first platform bank. It serves UAE residents and expatriates with a fully app-based retail offering (Wio Personal) and UAE SMEs and freelancers with a multi-user business banking product (Wio Business, Wio Creators), plus a family banking product (Wio Family) and an investment platform (Wio Invest). The bank operates on a cloud-native, mobile-first stack — Mambu provides the core banking engine, Paymentology handles card issuance and processing, and Stripe, Xero, Zoho, Fiskl, and Wafeq are integrated for payments and accounting. Multi-currency accounts (AED, USD, GBP, EUR, AUD, CAD, CHF), a debit/credit toggling Wio Card, Saving Spaces and Fixed Saving Spaces (up to 6% p.a.), WPS-compliant payroll, invoicing, and embedded insurance/BNPL are built into the platform, alongside Banking-as-a-Service APIs.

Wio's commercial model is a hybrid of subscription, interest, and transaction revenue. Business plans are subscription-based at AED 99/month (Essential) and AED 249/month (Grow); personal plans are freemium or free with a salary transfer (Salary/Family). Net interest income comes from credit cards, personal loans (from 4.75% p.a.), business lines of credit and term loans, and the spread on savings and fixed deposits. Transaction revenue is generated by SWIFT international transfer fees, interchange-funded cashback (up to 2% on credit card spends), investment platform fees, IPO subscription leverage (up to 5x), and supply chain finance. The bank achieved profitability in its first full year (FY 2023) and reported AED 37B balance sheet growth in FY 2024, with AED 50B+ in deposits and USD 1B+ AUA on Wio Invest by late 2025. Backed by ADQ, Alpha Dhabi Holding, e&, and FAB, the bank has grown to 300,000+ customers and claims one in three new UAE SMEs as customers.

Name

Wio Bank

Legal name

Wio Bank PJSC

Website

https://wio.io

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Wio Bank PJSC is a UAE-licensed digital bank offering retail and SME consumers multi-currency accounts, savings, credit, investments, payroll, and embedded finance through app-based personal, business, family, and creator products.

Ownership category

akta.pro rank

Headquarters

HQ city

Abu Dhabi

HQ country

United Arab Emirates

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Business Subscription Fees: Monthly subscription fees from business accounts: Essential Plan (AED 99/month) and Grow Plan (AED 249/month)
2. Credit Products Interest: Interest income from credit cards, personal loans (from 4.75% p.a.), and business financing products including lines of credit and term loans
3. International Transfer Fees: SWIFT international transfer fees: AED 52.50 for Essential Plan, AED 26.25 for Grow Plan per transfer
4. Savings Interest Spread: Interest spread on Savings Spaces and Fixed Saving Spaces, paying up to 6% p.a. while earning higher rates on lending
5. Investment Services: Revenue from investment platform including IPO subscriptions (up to 5x leverage available) and securities brokerage through Wio Securities LLC
6. Cashback and Rewards Program: Cashback rewards funded through interchange fees on card transactions, up to 2% on credit card spends

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Wio Bank is a fully digital, cloud-based banking platform licensed by the Central Bank of the UAE, offering personal, business, and family banking through mobile and web applications. The bank provides multi-currency accounts (AED, USD, GBP, EUR, AUD, CAD, CHF), savings products with up to 6% interest per annum, credit cards with up to 2% cashback, an investment platform (Wio Invest), SME business banking with payroll, invoicing and supply chain finance, and family banking features including kids' Pockets for ages 8-17.

Product overview

Wio Bank is a digital banking platform offering a unified suite of banking products across Personal, Business, and Family segments. The core offering includes Wio Personal (retail banking with accounts, savings, credit, and investments), Wio Business (SME banking with accounts, payroll, invoicing, and financing), and Wio Family (shared family banking with co-owned accounts and Pockets for children). Key products include Saving Spaces (flexible savings), Fixed Saving Spaces (term deposits up to 6% interest), Wio Credit (cashback credit card), Wio Invest (stock trading with 3,000+ stocks and ETFs), multi-currency accounts, Wio Invoicing (Stripe-enabled billing), and Wio Payroll (WPS-compliant salary processing). Business plans include Essential (AED 99/month) and Grow (AED 249/month) tiers. The platform provides embedded finance capabilities, international transfers via SWIFT, and IPO subscription with up to 5x leverage.

Differentiator

Problem solved

Functional benefit

Brands

• Wio Personal: Digital banking app for individuals offering savings, spending, credit cards, and investment services.
• Wio Business
• Wio Family
• Wio Invest
• Wio Creators

Products and services

• Wio Personal Account
• Wio Business Account
• Wio Family
• Wio Invest

Quantifiable outcome

• 6% interest per annum on Fixed Saving Spaces with Salary or Family Plan
• +3 more outcomes

Named customers2 records

Segments8 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability4 records

Feature6 records

Partnerships

24 partnerships are on record, tiered minor, major and core.

• KibsonsminorStrategic or Co-development Partner · 1 February 2026Partnership to strengthen UAE food supply chains and reward everyday grocery spending for Kibsons customers.
• iShares by BlackRockmajorStrategic or Co-development Partner · 1 January 2026Preferred partner for tax-efficient UCITS ETFs fund launch on Wio Invest platform, providing access to diversified investment products.
• TAMMmajorChannel Partner/ Reseller/ Distributor · 1 October 2025MoU to simplify business banking in Abu Dhabi through TAMM government services platform integration.
• Ajman NuVentures Centre Free ZoneminorChannel Partner/ Reseller/ Distributor · 1 September 2025MoU to transform business setup and banking for SMEs in Ajman free zone.
• XeromajorTechnology or Integration · 1 August 2025Direct integration with Xero accounting software for real-time financial data sync, automated reconciliation, and streamlined bookkeeping.
• GeideamajorChannel Partner/ Reseller/ Distributor · 1 June 2025Partnership to provide banking and financing services directly to SMEs in UAE, expanding distribution for business banking products.
• ShorymajorTechnology or Integration · 1 January 2025Embedded car insurance with monthly installments partnership. Shory provides insurance products integrated into Wio app.
• Etihad AirwayscoreStrategic or Co-development Partner · 1 August 2024Revolutionary savings program allowing customers to earn Etihad Guest Miles on savings deposits. Fixed Saving Spaces of 6 or 12 months earn up to 1 Etihad Guest Mile per AED saved.
• AstroLabsminorChannel Partner/ Reseller/ Distributor · 1 December 2023Strategic collaboration to facilitate business expansion in the Gulf through simplified banking processes.
• Abu Dhabi Securities Exchange (ADX)coreStrategic or Co-development Partner · 1 July 2023Partnership for fully digital, instant IPO subscriptions. Launched first digital loan against investments product in 2026.
• Hub71minorChannel Partner/ Reseller/ Distributor · 1 July 2023Partnership to enhance banking services for tech startups in Abu Dhabi, offering specialized banking solutions for Hub71 portfolio companies.
• Khalifa FundmajorChannel Partner/ Reseller/ Distributor · 1 May 2023MoU to provide beyond banking digital services to Khalifa Fund members and partner companies in Abu Dhabi.
• ADDEDminorChannel Partner/ Reseller/ Distributor · 1 April 2023Partnership to support growth of SMEs in Abu Dhabi with specialized banking solutions.
• PaymentologycoreTechnology or Integration · 1 March 2023Card issuance and processing partner transforming banking across UAE with advanced payment infrastructure.
• Flat6LabsminorChannel Partner/ Reseller/ Distributor · 1 January 2023Partnership to streamline SME-centric banking services for startups in Abu Dhabi.
• MambucoreTechnology or Integration · 1 November 2022Cloud banking platform provider powering Wio's digital banking services and enabling rapid product innovation.
• LuLu ExchangeminorChannel Partner/ Reseller/ Distributor · 1 November 2022First exchange house to accept cash deposit through Wio, enabling cash deposit capabilities at LuLu Exchange branches.
• IFZAminorChannel Partner/ Reseller/ Distributor · 1 November 2022Digital banking services partnership providing seamless account opening for IFZA free zone businesses.
• Abu Dhabi Global Market (ADGM)minorChannel Partner/ Reseller/ Distributor · 1 November 2022Partnership to improve banking journey for SMEs, connecting ADGM ecosystem businesses with Wio digital banking.
• RAKEZminorChannel Partner/ Reseller/ Distributor · 1 November 2022Partnership offering clients access to latest digital banking solutions through RAKEZ free zone.
• Meydan Free ZoneminorChannel Partner/ Reseller/ Distributor · 1 November 2022Partnership agreement providing digital banking services for Meydan Free Zone businesses.
• StripecoreTechnology or Integration · 1 October 2022Payment integration partner enabling seamless payment processing and payment links for Wio Business invoicing. Stripe payment links facilitate B2B customer payments.
• First Abu Dhabi Bank (FAB)majorTechnology or Integration · 1 October 2022Cash and cheque deposit facilities through FAB CDM machines. Free ATM withdrawals at FAB ATMs for Wio customers.
• VirtuzoneminorChannel Partner/ Reseller/ Distributor · 1 October 2022Partnership enabling fully digital business bank account opening for Virtuzone customers.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Emirates NBD (Liv.): Emirates NBD's digital-only lifestyle banking platform offering UAE consumers and SMEs multi-currency accounts, payments, and lifestyle rewards — the closest in-market direct competitor to Wio for personal and SME digital banking, with comparable product breadth and shared UAE regulatory backdrop.
• Mashreq Neo: Mashreq Neo is the UAE's first fully digital bank, providing personal and SME accounts, payments and lending via mobile, with WPS-compliant payroll — directly comparable to Wio as a UAE-chartered digital-first incumbent targeting the same consumer and SME segments with comparable regulatory standing.
• Zand: UAE-licensed digital bank built around multi-currency accounts, digital onboarding, and embedded banking partnerships — directly comparable to Wio as a UAE digital bank challenger serving both consumers and SMEs in the same regulatory environment and competing for the same cross-border payment share.
• N26: Berlin-based leading European digital bank offering mobile-first consumer and business accounts across the EEA — directly comparable to Wio as a digital-first commercial bank built cloud-native, expanding into multi-product breadth from a digital-only base, with a similar product-led growth motion.
• Revolut: UK-headquartered global digital bank best known for multi-currency accounts, low-cost cross-border transfers, and premium card experiences — directly comparable to Wio's SWIFT international transfers to 100+ countries, multi-currency accounts, and cashback card products targeting expat and traveler segments.
• Starling Bank: UK digital-only commercial bank serving both consumers and SMEs with business accounts, lending, payments and invoicing tools — directly comparable to Wio Business accounts, multi-currency support, and SME-focused financing, payroll (WPS) and invoicing offerings from a regulated digital-bank base.
• Wise: UK-headquartered multi-currency financial platform serving cross-border payments, FX, and embedded finance — directly comparable to Wio's SWIFT international transfers, multi-currency accounts in 7 currencies, and embedded-payment offerings serving the UAE's expat and SMB cross-border payment corridors.
• Monzo: UK digital consumer bank offering mobile-first current accounts, savings, consumer credit, and investments — directly comparable to Wio Personal for app-based onboarding, savings rates, cashback cards, and push into consumer credit and investing from a digital-only regulated base.
• bunq: Netherlands-based digital-only bank with multi-currency accounts, consumer and business offerings, and a platform-bank API strategy — directly comparable to Wio across cloud-native banking, multi-currency accounts in seven currencies, and BaaS/embedded finance partnerships with free zones, government entities and fintech platforms.

Broad incumbents

• ADCB (Hayyak): Abu Dhabi Commercial Bank's broader retail and SME franchise, including its Hayyak digital account, brings trusted incumbency, large branch network and full lending products to the same UAE retail/SME market — overlapping with Wio for consumer and SME primary banking relationships from a wider portfolio of products.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/wiobank
• Xx.com/WioBank
• Facebookfacebook.com/wiobank

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wio Bank