The American University in Cairo (AUC) and Fintech Robos, the Bahrain-based provider of savings and pensions technology, have signed a long-term deal aiming to enhance financial awareness in the Arab world.

 

The partnership is about joining the forces of AUC’s pioneering research capacity in behavioural economics and Fintech Robos’ strong regional outreach and focus on personal savings and investment solutions, to enable a more effective reach to communities on understanding personal finance and how they think and make financial decisions.

 

The MoU between the two institutions was signed at the AUC campus by Prof Ehab Abdel-Rahman, Provost of the American University in Cairo and Ebrahim K Ebrahim, CEO of Fintech Robos in the presence of deans and faculty from Business and Science colleges.

 

Various domains

The Behavioural Economics Decision-Making Lab (BEDMLab) at AUC and Fintech Robos embarked on a formal collaboration spanning various domains, aiming to synergise the strengths and expertise of both organisations to reach new heights and expanded footprint.

 

BEDMLab specialises in quantitative research and behavioral economic analysis and interventions, while Fintech Robos brings considerable experience in digital solutions for savings and investments and regional connections within the savings and financial literacy ecosystem.

 

Jointly, they will host workshops and conferences to raise awareness of behavioral insights and innovations within the personal savings and investment sector, covering Arabian Gulf and the broader Arab world. Another facet of this collaboration involves implementing and designing prototypes that incorporate behavioral insights into savings and investment products and services.

 

Different needs

The AUC’s BEDMLab and Fintech Robos envision creating a collaborative environment that fosters innovation, research, and awareness at the intersection of behavioural sciences and fintech for savings and investments, tailored to the different characteristics and needs of Arab consumers, to make substantial contributions to the advancement of financial services influencing diverse sectors and business endeavours.

 

“This partnership with AUC is part of our wider ongoing efforts to advocate financial literacy and financial inclusion across the region. And with BEDMLab’s applied behavioural economics insights, we hope to empower people to navigate the evolving landscape of savings, investments, and wealth management in Arab countries,” said Ebrahim K Ebrahim, CEO of Fintech Robos.--TradeArabia News Service