Global Innovators Episode #1: Meet the Woman Banking the ‘Unbankable’
Katharine Budd, the visionary co-founder of Now Money, a dynamic Dubai-based startup, is revolutionizing the landscape of mobile finance, especially in growth sectors resilient to the economic downturn caused by the Covid-19 pandemic. Since its inception in 2016, Now Money's digital platform has facilitated over 1 million transactions, empowering low-wage migrant workers with access to essential financial services, a fundamental right the company passionately upholds.
Traditionally marginalized from conventional banking channels, this demographic now enjoys the convenience of receiving salaries and sending money to loved ones abroad with unparalleled ease. This transformative impact has propelled Now Money into the spotlight, earning recognition in prestigious publications such as Forbes Middle East and the Financial Times.
Fuelled by their success and driven by a commitment to inclusivity, Katharine and her dedicated team are embarking on an ambitious expansion journey across the Gulf region. This strategic move coincides with the World Bank's projection of the global remittance market to low- and middle-income countries, estimated to surpass $589 billion by the close of 2021. Such robust growth, defying the broader economic recession spurred by the pandemic, underscores the pivotal role Now Money plays in reshaping financial accessibility on a global scale.