Malaysia’s HelloGold showcases financial inclusion product at UNSG Task Force event
By Digital News Asia October 21, 2019
- One of handful Asian fintechs to present at prestigious event
- HelloGold selected through UNCDF FinLab, only fintech invited to present at summit
You can say that it’s their moment to shine. During the 27 September 2019 United Nations Secretary General (UNSG) Task Force event held in New York, Malaysia’s HelloGold was one of the handful of Asian fintechs given the opportunity to present its gold savings mobile application to an audience of leading public, corporate and international institutions.
HelloGold is a fintech startup that provides gold savings in an accessible way, and is the world’s first Shariah-compliant gold mobile application.
It certainly fits the theme of the UNSG Task Force’s event, titled “Good Servant, Poor Master: Capturing the Promise and Managing the Risk of Financial Technology for a Sustainable World,” which was meant to gather businesses and world leaders to share and discuss the possibilities of using fintech towards achieving financial inclusion.
“It was an honour to be at this prestigious summit on financial inclusion”, says HelloGold Malaysia’s country head Juita Jalaluddin.
“A major challenge in emerging markets is access to financial products and services where the most vulnerable among us have no option but to save in cash, with many exposed to currency fluctuation and inflation. As prices go up, the majority are slowly but surely being excluded from building, much less, sustaining their wealth for the future.”
Gold, Juita notes, is the safest way to protect the savings of the unbanked and the underserved. “By democratising gold savings, we will be able to help those in need to save today for a better tomorrow.”
HelloGold was selected through the “Digital Finance for Sustainable Development Goals Challenge” organised by the UN Capital Development Fund (UNCDF) FinLab, and is one of two Malaysian companies (and the only fintech) invited to present at the summit.
The selection included judges from UNCDF, Bank Negara Malaysia, Malaysia Digital Economy Corporation (MDEC) and the Malaysian Global Innovation and Creativity Centre (MaGIC).
“Within Malaysia there are a growing number of innovative solutions harnessing emerging technologies to improve the financial health of low to moderate-income earners. We are pleased to support these efforts and are excited to have Malaysian companies represented on this global forum,” says UNCDF’s Innovation specialist in Malaysia April Khor.
“By offering accessible and alternative savings, HelloGold sets an example of their contribution towards the achievement of Sustainable Development Goals 1 (no poverty) and 10 (reduced inequalities.”
This isn’t the first time HelloGold has been on the financial inclusion stage. In 2018, the startup was recognised by the World Economic Forum ASEAN for its work in financial inclusion.