An Introduction to Faith Based Underbanking

An Introduction to Faith Based Underbanking

algbra was this week featured in the Emerging Payments Association’s Project Inclusion interview series hosted by Ravindra Meshram and sponsored by Mastercard.

In this interview, algbra founders, Zeiad Idris and Fizel Nejabat, challenged some of the industry assumptions around financial inclusion, addressing an “additional dimension to financial exclusion, which is voluntary”. They went on to add, “some people exclude themselves from the financial system out of choice, as there is a faith-based reason for underbanking”, highlighting the market’s deficiency in serving populations that have faith-based requirements for financial services.

algbra joins an esteemed network of industry leaders who have contributed to the EPA’s Project Inclusion interview series, including, amongst others: Amit Mallick (Global Open Banking and APIs Lead at Accenture), Janine Hirt (COO and Board Member at Innovate Finance) and Neil Harris (Group CCO at Global Processing Services).

A special thanks is also given to Project Inclusion’s benefactor, Mastercard, which is committed to serving 1 billion people previously excluded from the financial system.

See the interview below: