Wio Bank, the UAE’s first digital-only bank, has moved a step further with the appointment of Mansour AlMulla as its new Chairman. Wio Bank is leading the UAE’s digital revolution in banking, and this leadership change marks an increased emphasis on innovation, strategic expansion, and digital excellence. As the financial sector continues to move at lightning speed, Wio Bank continues to redefine banking for good, making it smarter, faster, and more user-centric.
New Chairman and Board Addition Drive Wio Bank’s Vision
Wio Bank named Mansour AlMulla, ADQ Deputy Group CEO, the new Chairman of the Board. With more than 23 years of experience across various sectors, AlMulla shares profound financial acumen and leadership skills that complement Wio Bank’s expansion plans. His appointment is also accompanied by four new board members—Eng. Hamad Al Ameri, Dr. Jaap Kalkman, Jawad Shafique, and Samy Ben-Jaafar—whose combined expertise spans finance, technology, and investments. The more robust board organization is anticipated to guide Wio Bank toward a new era of digital banking excellence in the UAE.
Wio Bank has the backing of lead shareholders like ADQ, Alpha Dhabi, e&, and First Abu Dhabi Bank (FAB), which forms a strong foundation to grow and innovate. These alliances allow Wio Bank to avail themselves of best-in-class expertise, sector knowledge, and the strength of capital to propel the next generation of digital financial services.
Wio Bank’s Technology-Driven Strategy Accelerates Firmly
Since its launch in 2022, Wio Bank has gained accolades for its focus on digital innovation. The bank’s two main products—Wio Business and Wio Personal—have witnessed strong takeup. Wio Business with multi-currency accounts, Wage Protection System (WPS) connection, and an SME web application has already enrolled over 50,000 business users. In the personal segment, over 40,000 customers have registered on the Wio Personal platform with deposits exceeding Dh6 billion.
Wio Bank has also found itself at the forefront of the embedded finance revolution through its Banking-as-a-Service (BaaS) propositions, enabling other platforms to embed financial products and tools directly into their ecosystems. This strategy resonates with global fintech trends and positions Wio Bank as a strategic facilitator of the region’s digital economy.
Recognition and Financial Growth Cement Wio Bank’s Success
Wio Bank has rapidly established itself as one of the top banks. Earning top honors such as #1 Fintech in MENA by Forbes Middle East, Digital Bank of the Year at the E-Business Awards 2024. SME Bank of the Year for its strong backing of small and medium businesses. These awards are a direct reflection of Wio Bank’s uncompromising commitment to customer-led innovation and technological superiority.
In terms of finance, WBank posted a Dh2 million profit in its first complete year of business (2023). With total revenues of Dh266.4 million. Customer deposits jumped well above Dh11 billion, reflecting increased confidence in its digital-only model. These figures are not milestones alone—they are testaments to the demand for contemporary. Frictionless banking experiences that Wio Bank provides.
Wio Bank’s Future: Redefining the UAE’s Digital Banking Ecosystem
Wio Bank’s journey is not done yet. With Mansour AlMulla as its leader and revitalized board mapping strategy,. The bank is positioned to guide the digital banking revolution in the UAE. Wio Bank’s intends to keep innovating user experience, diversifying its product portfolio. And continuing with regulatory excellence to satisfy the needs of new-age customers.
Wio Bank’s is not only creating a better bank—it’s creating the future of banking in the UAE. With a robust digital platform, forward-thinking leadership, and customer-centric approach. Wio Bank will continue to be a trailblazer in the digital financial ecosystem.
Wio Bank’s is future-ready. With digital innovation as its DNA and a new daring leadership. It will continue to drive the UAE’s financial ecosystem for years to come.
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