Brand | Screen
Banking Without Borders
Making money work for the UAE's working-class unbanked and underbanked population,
with a financial solution that challenges the efficacy of regional banks.
Over 60% of the UAE's inhabitants are unbanked, or underbanked, largely because they earn less than the minimum salary required by institutions to open an account. We set out to change that.
Working with London agency Hi Mum Said Dad and innovation consultancy Lippincott, we created a native banking app (iOS and Android) that helps the country’s 4.9m lower-income population achieve more with their hard-earned money.
Insights
Through jobs-to-be-done interviews, Lippincott uncovered three core insights which frame how the unbanked engage with money.- We learnt that…
- Everyone comes to the UAE with a dream, but the longer they spend here, the further they feel from achieving it
- People want to save more, but if money is accessible, it finds a way to get spent
- Everyone knows they should be doing more with their money, but will only trust something new if it’s recommended by their network
Solution
With the current Emirati market full of action-oriented fintechs or big picture incumbents, we crafted a unique value proposition – 'Your dream, made real' – which put people's dreams at the heart of every money decision. By focusing on budgeting, remittance, savings and community, we built a new kind of smart money-management app that helps people sort the essentials, send and receive money, and supercharge their savings.After an initial rollout in Abu Dhabi and Dubai, there are plans to regionalise the offering beyond the Middle East.
