CEO Jayesh Patel On Wio Bank's Digital-First Philosophy

"An SME or an entrepreneur starts a business with a dream. They don't want to spend as much time learning about banking. We want to make it super easy, super transparent,” the CEO of Wio Bank, the UAE’s largest digital bank, Jayesh Patel told Inc. Arabia at GITEX GLOBAL 2024. 

Patel explained the bank’s customer-first philosophy, which guides Wio's mission to simplify banking and empower SMEs in the UAE, “We want to make money when you make money, not when you make mistakes,” he said.

Patel also highlighted the factors that make the UAE an attractive destination for entrepreneurs, especially those providing digital services. “If you look at the UAE, everything's digital. I think the government pushes a lot of digital capabilities. So, if you have a digital concept, you already have an infrastructure that is super digital,” he said. 

He also pointed to the optimism and openness of the UAE’s society towards entrepreneurship. “Everyone is trying out new services, new capabilities. You want to start something; you want to go to a market where everyone's willing to try new stuff. So, I think the ecosystem, the optimism that's there, and the fact that everyone's here, makes it the best place to be,” he added. 

Check out the full video for more of Patel's insights!