Wio Bank, ADX partner to enable instant, digital IPO subscriptions

Wio Bank, ADX partner to enable instant, digital IPO subscriptions

ADQ-backed Wio Bank has joined forces with the Abu Dhabi Securities Exchange (ADX) to facilitate initial public offering (IPO) subscriptions on the stock market. The partnership allows the digital bank’s customers to instantly subscribe to UAE IPOs on the ADX via Wio’s upcoming personal banking mobile application. The neobank said the fully digital service is part of the digital banking platform’s commitment to delivering fast and seamless experiences to its customers. The bank allows its customers to instantly and digitally create a national investor number on the ADX and apply for IPO subscriptions without any hassle, or paperwork. The customers will also benefit from the option to apply for leverage at a competitive rate of up to five times the amount invested this added leverage empowers customers to increase their allocation of shares in an IPO. said it can instantly approve the leverage application, using its innovative digital platform and deep customer insights. “The partnership has enabled us to streamline the process by removing the hassle of paperwork submission, providing our customers with immediate access to substantial investment opportunities through our upcoming personal banking application,” Jayesh Patel, CEO of Wio Bank. “This collaboration is a great example of how we