A study by investment firm National Bonds has found that people in the UAE are not saving enough, though they'd like to increase their savings in the future. The problem is that financial illiteracy and debt are making this difficult, but behavioural economics can nudge them in the right direction.

Research has found that a majority of Emiratis would be willing to try banking services offered to them by major tech firms they already use. As UAE people grow weary of the experience traditional banking institutions offer, a timely shakeup is needed in the sector to rebuild consumer trust.

In a region that can boast ‘Gold to Go’ vending machines that allow people to buy gold bars and coins, it's hardly surprising that Saudi consumers love to spend. But extravagant spending habits are having consequences for families, as the nation seems to have forgotten how to save.

American Gen Yers have never been in so much debt – those aged 30-39 owe a combined total of $408.4 billion in student loans alone – and as they start to have families, their money worries are only growing. How can apps like Wela helping these young households tackle their financial crises?