Wio Bank PJSC

Based in Abu Dhabi, United Arab Emirates, and founded in 2022, Wio Bank PJSC operates as a provider of financial banking solutions for individuals and businesses. In November 2022, Magnati Payment Solutions, a portfolio company of Brookfield Asset Management, acquired Wio Bank PJSC from ADQ, Alpha Dhabi Holding, Etisalat (e&), First Abu Dhabi Bank PJSC, and Virtuzone. As of 2023, the company was led by its CEO, Jayesh Patel. The company provides the Wio financial platform, which enables customers to optimize their financial management using its digital banking application.

The firm's primary offering is its Wio Business account, which allows businesses to earn up to 3% interest on their savings space holdings. Wio Bank's application allows customers to access features such as virtual cards, automated invoicing, and real-time dashboards. The company also offers a suite of services that enable customers to earn up to 6% interest on savings, help save 3. 5% on global card spending, and earn 1% cashback on Wio card purchases, as well as secure international money transfers to over 100 countries with exchange rates and instant transactions.

In addition, Wio Bank allows customers to invest in stocks, ETFs, and perform funding and trading, as well as receive interest on capital, diversify with ETFs, and access IPOs with leverage authorization. The company’s mobile application is available for download on both the Apple Store and Google Play. The organization generates revenue through its pricing options, which start at AED 99 per month for freelancers and small enterprises and go up to AED 249 per month for medium and big businesses.