Uulala is a social impact, a blockchain-powered fintech company that facilitates and accelerates the financial inclusion of the under-banked and unbanked populations by providing financial tools to easily send and receive payments, pay bills, receive micro-financing and build an international blockchain based credit profile and digital identity.
After successfully launching their application at Talent Land Mexico 2019, attended by over 30,000 innovators, and sharing the main stage and the blockchain stage with a number of influential experts including Tone Vays consultant and former VP of JP Morgan Chase, Blanca Treviño the President & CEO of Softtek, and Ophelia Pastrana who was listed on Forbes ‘Top 100 most powerful women in Mexico’, Mr. Garcia is no stranger to sharing his vision for a blockchain-based future.
He has developed Uulala to be a shining example of blockchain technology in action and how blockchain technology can be used for social good. Of the 1.7 billion unbanked adults worldwide, nearly half live in just seven developing countries, including Mexico. Research from the World Bank shows a strong correlation between financial inclusion and poverty alleviation, making it a key goal of international organizations and national governments alike. As a first generation, Latin-American Mr. Garcia recalls spending his childhood watching his mother lose a significant amount of money each paycheck to access financial services outside of the traditional financial system. Experiencing extreme hardship himself is what inspired Mr. Garcia to passionately focus on ensuring the future looks brighter for those who have been cast aside by traditional financial solutions and exploited by private institutions.
With 78% of rural municipalities in Mexico not having a single point of access to financial services, such as a bank or bank machine, lack of infrastructure while contributing to a significant portion of the population remaining underbanked provides an excellent opportunity for new technology like blockchain-based Uulala to create sweeping positive change.
As people gain access to financial services, they are able to save money safely outside the home, an important step towards financial security. They can also start building a credit profile which leads to the potential for loans to buy a house, build a business or pay for education. Opening up access to new capital, rather than forcing businesses and individuals to rely on strictly limited financial resources, creates huge potential for growth and financial success in the region.
As the company scales in Mexico and gears up for their USA launch this summer continued momentum and business development opportunities to serve the most vulnerable continue to be at the heart of Uulala.
Uulala is a blockchain powered fintech company that facilitates and accelerates the financial inclusion of the under-banked and unbanked populations. Uulala empowers the under-banked communities by providing financial tools to easily send and receive payments, pay bills, receive micro-financing and build an international blockchain based credit profile and digital identity.
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