myZoi, the UAE-based digital payroll and wallet platform backed by SC Ventures, has joined the Central Bank of the UAE’s (CBUAE) Financial Inclusion & Literacy workshops. The collaboration aims to advance a more inclusive financial ecosystem and support the needs of the UAE’s 2.8 million residents who remain excluded from full financial services.
Innovating Payroll For Immediate Access
As an industry participant, myZoi brings significant expertise in user-centric financial tools to the national initiative. Earlier this year, the company introduced a market-first solution allowing new-to-country employees to open a bank account and receive a payment card on their first day of employment. Enabled through Emirates Face Recognition (EFR), this innovation removes the traditional delays faced by workers waiting for their official ID. The platform has seen impressive traction since its commercial launch, achieving digital adoption rates of over 50% within its first year and a repeat usage rate of 81%, signaling strong demand for its simplified services.
Championing Financial Literacy
Complementing its technology, myZoi is actively contributing to the CBUAE’s Financial Literacy Champion initiative. The company is training its own certified champions to empower communities with financial knowledge, building upon its successful “Money Tips” program. This multilingual, multi-channel initiative has already generated more than 33 million video views and reached thousands through in-person events. To further these efforts, myZoi has launched a large-scale awareness campaign under the theme “If it’s not everyone, it’s not inclusion,” encouraging UAE businesses to support workforce well-being.
A National Push For Inclusion
myZoi’s participation aligns with the CBUAE’s broader strategic vision to expand access to secure financial services for all residents, which is being driven in partnership with the World Bank and the Centre of Financial Inclusion. The collaboration leverages myZoi’s expertise in payroll innovation and secure digital wallets to help build a more resilient and future-ready financial ecosystem. As stated by Syed Muhammad Ali, CEO of myZoi, “Financial inclusion is not just about access, it’s about empowerment. By working closely with the Central Bank of the UAE… we’re helping to create the knowledge, tools, and infrastructure that enable everyone.”
About myZoi
myZoi is committed to promote financial inclusion of every underbanked individual globally through tailored financial services, elevating their living standards over time. Headquartered in the UAE, myZoi is a wholly owned subsidiary of Standard Chartered Group and a fintech backed by SC Ventures – the Group’s innovation, fintech investment and ventures arm.
Source: Zawya
