Fintech Is Opening New Paths to Financial Inclusion Beyond Banks, FRA Sandbox CEO Says
Egypt’s next phase of financial inclusion is likely to be driven as much by non-bank financial services as by traditional banking and payments, according to Ahmed Khalifa, CEO of FRA Sandbox, who said fintech is creating new models for financing and insurance that can reach segments previously underserved by conventional channels.
Speaking during a panel titled “Beyond Financial Inclusion: The Next Chapter of Egypt’s Fintech Story” at the launch of the Entlaq 2026 Entrepreneurship Report, Khalifa argued that financial inclusion within non-banking financial activities requires a different approach from the one traditionally associated with bank accounts and cashless payments.
His comments point to a broader shift in Egypt’s fintech market.
For years, much of the financial inclusion conversation has focused on bringing more people into formal banking channels, expanding digital payments and reducing reliance on cash. But the next opportunity lies in using technology to redesign products such as financing, insurance and other non-bank financial services around customers who may not fit traditional models.
Beyond payments and bank ac counts
Khalifa said fintech is helping open new routes into the financial system by enabling more flexible financing and insurance models.
That matters because access to a digital wallet or bank account does not necessarily mean a consumer or small business can obtain credit, insurance or other financial products tailored to their needs.
Technology can help close that gap by improving data use, simplifying onboarding and creating alternative ways to assess customers, potentially allowing financial providers to serve groups that were previously too difficult or costly to reach.
The distinction is particularly important in non-bank finance, where inclusion is less about simply giving customers a transaction account and more about whether they can actually access products that help them fund purchases, manage risk or grow a business.
Regulation becomes part of the innovation process
The role of FRA Sandbox, the regulatory sandbox operated under Egypt’s Financial Regulatory Authority, reflects how regulation is also changing alongside the technology.
Instead of forcing every new fintech model directly into a full-scale regulatory framework from day one, sandbox environments allow companies to test new products under regulatory supervision, helping authorities assess risks while giving startups and financial institutions room to experiment.
That approach is becoming increasingly important as fintech moves into more complex areas than payments.
Innovations in financing and insurance can affect credit risk, consumer protection, pricing and data use, making regulatory design a central part of whether new models can scale safely.
The next fintech opportunity is deeper access
Khalifa’s remarks suggest that Egypt’s fintech story is moving from access to transactions toward access to financial products.
The first wave of digital finance made it easier for consumers to transfer money and make payments. The next wave could be defined by whether technology can make financing, insurance and other non-bank services more accessible to people and businesses that remain outside traditional financial channels.
That would turn fintech from a payments story into a broader financial infrastructure story — one where inclusion is measured not only by how many people can move money digitally, but by how many can access the financial tools they actually need.