The Emirates with its digital resources and uninterrupted connectivity, offers endless possibilities for young professionals and emerging entrepreneurs to make it big. But the inflow of cash has also created a requirement for financial literacy, since managing funds often turns out to be a complicated procedure, which requires assistance.

The country already has tech-powered initiatives like digital platforms that provide financial knowhow to blue collar workers, through online courses. In a bid to boost management of funds via personalised help for Emirati youth, a duo in the country has launched their mobile app that lets users sort out their expenses and savings.

Designed to empower people with financial literacy, Lune allows users to link multiple bank accounts and credit cards to a single platform. As they keep an eye on their cash flow digitally, people can also use the app to chalk out their budget strategy.

User data is completely secured by encryption, and the platform only gets read-only access, which means it cannot store account details. In addition to monitoring expenditure, netizens can also manage their investments via Lune.

The past few months have seen an increased demand for fintech apps, following the swift move towards digital transactions in the Middle East. The easy access and quick verification, has also encouraged young people to invest in stocks, mutual funds and even cryptocurrencies.

This is why Lune has been able to capitalise on its ability to simplify financial management, which has led to 700 downloads in a matter of weeks. Spurred by the success in the UAE, Lune is also eyeing an expansion into Saudi Arabia, which is yet another major market for digital services in the Middle East.

Since it also educates netizens about their finances, while handling their funds, the app will soon be upgraded to interact with Middle Eastern users in Arabic.

The service is in line with the Emirati focus on financial literacy, as part of which the UAE had even introduced a handbook back in 2018.