Six FinTech innovations will boost financial inclusion levels for Mena’s unbanked – The National

Six FinTech innovations will boost financial inclusion levels for Mena’s unbanked – The National

Six FinTech innovations will boost financial inclusion levels for Mena's unbanked. Financial technology that helps residents manage their money more effectively is urgently needed in the region. Six FinTech innovations will boost financial inclusion levels for disadvantaged communities in the Middle East and North Africa, according to Village Capital, which urges regulators and investors to support start-ups.. Savings and wealth building tech, employment tech, digital ID, financial literacy, access to capital and alternative lending, will all improve the financial health for the region's unbanked by democratising access to financial services, according to The State of Financial Health Start-ups report from the financial health accelerator, which was endorsed by MetLife Foundation.. "Covid-19 has accelerated the already pressing need for services that bring the advantages of financial inclusion to large swathes of the population and by extension national economies," said Alicia Sornson, manager programmes and partnerships in Mena, at Village Capital.. Financial technology that helps people manage their income, expenses, weather financial shocks and plan for a healthy financial future is urgently needed in the Mena region, which has the largest number of unbanked globally, according to the report.. Most investment management firms in the region have "high fees and only work