How is your business helping to solve the health, social, or economic challenges created by COVID19?
Hubpay is launching the digital wallet for the remittance community in the UAE, using the remittance corridors as a route to market to drive financial inclusion across Asia. Hubpay will replace the current model of physical cash in and physical cash out with a digital wallet to digital wallet remittance solution. As a fully digital solution the Hubpay digital wallet will offer the lowest cost remittance and international bill payment in the market in the UAE; saving users time, money and enabling them to make remittances and payments digitally (reducing crowded exchange houses).Longer term Hubpay are using the digital wallet as a platform to drive greater financial inclusion; providing remittance receivers with a wallet and exploring broader partnerships with microfinance and similar organisations.
Does your business contribute most to recovery, response, or resilience?
Recovery - we're positioned to support in the recovery of those directly affected.
What is the stage of your product development?
I have a market-ready product/service. I could sell it to customers
What strengths does your team bring? Include skills and personal experience with the problem.
Kevin has 10 yrs of experience working in investment banking. Kevin, started working in financial inclusion in 2008 as a pro-bono consultant, for Opportunity International (one of the world’s largest microfinance NGOs) on the ground in Malawi, where he saw first-hand the transformative effect of financial inclusion.Punit brings 10 years of Financial Control experience across financial services. Punit led his own financial consultancy in London with clients ranging from start-ups to large corporates providing advice around finance strategy, project viability including regulatory applications.Ashish, is a computer scientist and digital strategist, bringing over 16 years of successful career across diverse financial technology roles. Ashish previously was head of technology function for Commercial Bank international (CBI), he has executed digital transformation projects at CBI and RAKBANK. Maja (VP Operations)Maja brings over 14 years of experience in operational experience. Maja has executed strategic projects, primarily in growth markets, reporting to C-level, across a variety of industries from government to international NGO projects. John (VP Risk)John brings 38-yrs of banking experience in Ireland and UK. His skill profile reflects deep and varied senior positions in a sizeable (£18bn balance sheet assets) UK full licensed regulated bank, where he was a member of the senior team accountable for the leadership and governance of the FSA regulated business
What countries do you operate in?
UAE and can currently deploy remittances to 21 countries and bill payment to over 60 countries. Hubpay will be applying for licenses to operate as a digital wallet in KSA, Pakistan and India within the next 12 months.
Is your company headquartered in a US "Opportunity Zone"?
No
