Welcome!

News Feed Item

Moneyfellows wins MetLife Foundation Financial Innovation Competition powered by Verb, Secures $50,000 Grant

CAIRO, Dec. 10, 2017 /PRNewswire/ -- Moneyfellows of Egypt has been announced winner of the MetLife Foundation Inclusion Plus competition in Egypt & Lebanon. The competition was open to entrepreneurs, businesses and non-profit organizations and aimed to discover innovative solutions to promote financial capability and access to financial services. With more than 30 entries, Moneyfellows won the grand prize and collected a grant of $50,000.

Moneyfellows is a web and mobile-based platform that enables people to access interest-free credit and saving achievements powered by their personal network. This is accomplished by digitizing the traditional offline Rotating Saving and Credit Association (ROSCA) model and by utilizing alternative models for credit scoring users. By making ROSCAs digital, this popular option the world-over becomes safer, more transparent, scalable and organized.

MetLife Foundation is proud to support this first-of-its-kind innovation competition that supports entrepreneurs at the forefront of financial inclusion in Egypt and Lebanon. More than 50 MetLife volunteers acted as mentors and judges, providing advice, support, and partnership that will help the ventures develop and grow.  

"Without our MetLife mentors, it would have been much tougher to be honest. They were the ones that really pushed us to improve our application, our presentation, and even the content itself," said Ahmed Wadi, Founder and CEO of Moneyfellows. "We look forward to continue working with them and the MetLife team as a whole."

ReAble of Lebanon, in second place, won $25,000 and received in-kind support from VIP Judge, Jihad Bitar, to be part of Lebanon's Smart ESA accelerator. PayMob of Egypt, in third place, took home $12,000 and Alashanek ya Balady for Sustainable Development of Egypt, Al Majmoua of Lebanon and AID:Tech of Lebanon were each awarded $5,000.

"It is one of MetLife Egypt's priorities to support SMEs and entrepreneurs, which contributes to MetLife Foundation's financial inclusion efforts to empower this important segment in the community," said Elena Butarova, Deputy Chairman and Managing Director of MetLife in Egypt.

"It is very encouraging to see how corporate foundations and multinational businesses can partner with social entrepreneurs to fuel innovation and impact. The MetLife Foundation, MetLife Egypt and MetLife Lebanon have come together to demonstrate how competitions can be a powerful engine to help address some of the world's biggest economic problems," said Verb Co-Founder and CEO, Suzi Sosa. "We congratulate the winners who have developed a powerful new way to include more people in planning for their financial futures."

The Inclusion Plus Egypt & Lebanon competition is part of a broader partnership between MetLife Foundation and Verb that will run across ten countries over a three-year period. Competitions have been completed in Ireland, China, India and Mexico. These competitions help advance financial inclusion for the estimated two billion people globally who do not currently have access to formal financial services.  To learn more about the competitions, visit inclusionplus.com.

About MetLife Foundation

MetLife Foundation was created in 1976 to continue MetLife's long tradition of corporate contributions and community involvement. Since its founding through the end of 2016, MetLife Foundation has provided more than $744 million in grants and $70 million in program-related investments to organizations addressing issues that have a positive impact in their communities. In 2013, the Foundation committed $200 million to financial inclusion, and our work to date has reached more than 3.5 million low-income individuals in 39 countries. To learn more about MetLife Foundation, visit metlife.org.

About Verb, Inc.

Verb is a social enterprise that produces global social entrepreneurship competitions and delivers employee engagement in partnership with companies, foundations and governments. Verb competitions mobilize thousands of teams from around the world to solve the planet's most pressing social and environmental problems. Founded in 2013 by Austin entrepreneurs Suzi Sosa and Tom Meredith, Verb leverages its online platform, innovation expertise, and entrepreneur network to produce a social innovation engagement experience unlike any other. For more information, please visit www.verb.net/.

About MetLife

MetLife, Inc., through its subsidiaries and affiliates ("MetLife"), is one of the world's leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.

 

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Bill Schmarzo, Tech Chair of "Big Data | Analytics" of upcoming CloudEXPO | DXWorldEXPO New York (November 12-13, 2018, New York City) today announced the outline and schedule of the track. "The track has been designed in experience/degree order," said Schmarzo. "So, that folks who attend the entire track can leave the conference with some of the skills necessary to get their work done when they get back to their offices. It actually ties back to some work that I'm doing at the University of San...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups. As a result, many firms employ new business models that place enormous importa...
When talking IoT we often focus on the devices, the sensors, the hardware itself. The new smart appliances, the new smart or self-driving cars (which are amalgamations of many ‘things'). When we are looking at the world of IoT, we should take a step back, look at the big picture. What value are these devices providing. IoT is not about the devices, its about the data consumed and generated. The devices are tools, mechanisms, conduits. This paper discusses the considerations when dealing with the...
DXWorldEXPO LLC announced today that Nutanix has been named "Platinum Sponsor" of CloudEXPO | DevOpsSUMMIT | DXWorldEXPO New York, which will take place November 12-13, 2018 in New York City. Nutanix makes infrastructure invisible, elevating IT to focus on the applications and services that power their business. The Nutanix Enterprise Cloud Platform blends web-scale engineering and consumer-grade design to natively converge server, storage, virtualization and networking into a resilient, softwar...
Having been in the web hosting industry since 2002, dhosting has gained a great deal of experience while working on a wide range of projects. This experience has enabled the company to develop our amazing new product, which they are now excited to present! Among dHosting's greatest achievements, they can include the development of their own hosting panel, the building of their fully redundant server system, and the creation of dhHosting's unique product, Dynamic Edge.
Only Adobe gives everyone - from emerging artists to global brands - everything they need to design and deliver exceptional digital experiences. Adobe Systems Incorporated develops, markets, and supports computer software products and technologies. The Company's products allow users to express and use information across all print and electronic media. The Company's Digital Media segment provides tools and solutions that enable individuals, small and medium businesses and enterprises to cre...
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science," is responsible for setting the strategy and defining the Big Data service offerings and capabilities for EMC Global Services Big Data Practice. As the CTO for the Big Data Practice, he is responsible for working with organizations to help them identify where and how to start their big data journeys. He's written several white papers, is an avid blogge...
To Really Work for Enterprises, MultiCloud Adoption Requires Far Better and Inclusive Cloud Monitoring and Cost Management … But How? Overwhelmingly, even as enterprises have adopted cloud computing and are expanding to multi-cloud computing, IT leaders remain concerned about how to monitor, manage and control costs across hybrid and multi-cloud deployments. It’s clear that traditional IT monitoring and management approaches, designed after all for on-premises data centers, are falling short in ...
Hackers took three days to identify and exploit a known vulnerability in Equifax’s web applications. I will share new data that reveals why three days (at most) is the new normal for DevSecOps teams to move new business /security requirements from design into production. This session aims to enlighten DevOps teams, security and development professionals by sharing results from the 4th annual State of the Software Supply Chain Report -- a blend of public and proprietary data with expert researc...
"Deloitte" is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit & assurance, consulting, risk and financial advisory, risk management, tax, and related services to select clients. These firms are members of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"). Each DTTL member firm provides services in particular geographic areas and is subject to the laws and professional regu...
Your job is mostly boring. Many of the IT operations tasks you perform on a day-to-day basis are repetitive and dull. Utilizing automation can improve your work life, automating away the drudgery and embracing the passion for technology that got you started in the first place. In this presentation, I'll talk about what automation is, and how to approach implementing it in the context of IT Operations. Ned will discuss keys to success in the long term and include practical real-world examples. Ge...
Dynatrace is an application performance management software company with products for the information technology departments and digital business owners of medium and large businesses. Building the Future of Monitoring with Artificial Intelligence. Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more busine...
Despite being the market leader, we recognized the need to transform and reinvent our business at Dynatrace, before someone else disrupted the market. Over the course of three years, we changed everything - our technology, our culture and our brand image. In this session we'll discuss how we navigated through our own innovator's dilemma, and share takeaways from our experience that you can apply to your own organization.
There's no doubt that blockchain technology is a powerful tool for the enterprise, but bringing it mainstream has not been without challenges. As VP of Technology at 8base, Andrei is working to make developing a blockchain application accessible to anyone. With better tools, entrepreneurs and developers can work together to quickly and effectively launch applications that integrate smart contracts and blockchain technology. This will ultimately accelerate blockchain adoption on a global scale.
Enterprises are universally struggling to understand where the new tools and methodologies of DevOps fit into their organizations, and are universally making the same mistakes. These mistakes are not unavoidable, and in fact, avoiding them gifts an organization with sustained competitive advantage, just like it did for Japanese Manufacturing Post WWII.