Asia Fintech Awards

Asia is home to many of the world’s premier financial services centres and a burgeoning financial technology market. The Asia Fintech Awards was developed to celebrate this incredible community, and the achievements and successes of the region’s best and brightest.  

Diversity & Inclusion Award 

We are proud to announce that Moolahgo won the Asia Fintech Diversity & Inclusion Award 2023 in August 2023. 

Moolahgo is a leading multi-currency digital payments specialist founded and headquartered in Singapore. Founded in 2017, Moolahgo started servicing SME businesses across diverse industries with its competitive FX and cross-border payment services to help them clear invoice payments and supporting the Singapore economy. Following this success, it has recently started to offer its products and services to consumers in Singapore by providing innovative digital payment tools in an eWallet mobile app. 

Areas of Focus in Diversity and Inclusion 

Moolahgo places a high importance in its ESG agenda especially in Diversity and Inclusion.  

Most Fintechs focus heavily on the banked population, creating financial solutions that are suitable for such audiences (e.g., Wise, Revolut, etc). 

Moolahgo on the other hand, takes a conscious effort to ensure that our products and services are suitable and accessible for both the banked and unbanked/underbanked population. In Singapore, the unbanked or underbanked population are typically the migrant workers. As of 2021, there are about 1 million migrant workers contributing to the society in Singapore, filling jobs that are typically shunned by locals but are critical in nation building such as construction, nursing, elderly care and domestic chores. 

Boosting Diversity and Inclusion 

Moolahgo is committed to boosting diversity and inclusion for unbanked migrant workers, recognizing the importance of addressing the unique financial needs of this underserved population. Here’s how we are working to make a difference: 

1. Accessible Financial Services
   We understand that many migrant workers may not have access to traditional banking services. To bridge this gap, Moolahgo offers accessible digital financial services, including mobile wallets, remittance, and currency exchange, ensuring that even unbanked individuals can participate in the modern financial ecosystem.
2. Multilingual Support
   Language barriers can be a significant challenge for migrant workers. Our platform provides multilingual support, allowing users to access our services in their preferred language. We aim to make our platform as user-friendly as possible for individuals from diverse linguistic backgrounds.
3. Education and Resources
   Financial literacy is crucial for making informed decisions. Moolahgo offers educational resources, such as webinars, articles, and guides, to empower unbanked migrant workers with the knowledge they need to manage their finances effectively and securely.
4. Transparent Pricing
   Hidden fees and complex pricing structures can be detrimental to unbanked individuals. We are committed to transparency in our pricing, ensuring that users know exactly what they will be charged for our services. This transparency builds trust with our users.  
5. Convenient and Secure Remittances
   Remittances play a significant role in the lives of migrant workers, and we ensure that our remittance services are convenient, secure, and cost-effective. Our platform’s features are designed with their specific needs in mind.
6. Zero or Low Minimum Balance Requirements
   Unbanked individuals often have limited resources, and traditional banks may require high minimum balances. Moolahgo’s services have minimal to no minimum balance requirements, making our platform accessible to those with varying income levels.
7. Collaboration with Local Communities
   We actively collaborate with local communities to understand the unique financial challenges faced by unbanked migrant workers in different regions. This helps us tailor our services to their specific needs.

Moolahgo believes that diversity and inclusion are not just buzzwords but core principles that guide our actions. By focusing on the financial inclusion of underbanked/unbanked migrant workers, we aim to empower them with the tools and knowledge they need to achieve their financial goals, send money to their loved ones, and access the benefits of modern financial services. This commitment drives us to continually improve our services and work towards a more inclusive financial future for all.