The Team's Motivations
Mogaland is the brainchild of the team at Tradelite Solutions, an innovative start-up straddling the realms of digital games and fintech.
Mogaland name origin
The Mogaland team combines decades of experience across financial services, education, gaming, and technology sectors. They are united by a shared frustration—the glaring disconnect between people's true financial needs and the offerings provided by existing financial institutions.
Today's financial services landscape often fails to empower individuals to make informed decisions and achieve favorable financial outcomes. For example:
- Most financial service providers prioritize meeting sales targets over addressing the diverse financial needs of their customers, leading to subpar service quality.
- Financial institutions invest significantly more in marketing ($54 per person) than in educating consumers ($2 per person), resulting in a lack of objective information and guidance for consumers.
- Pricing of financial products and services often relies on discriminatory factors like credit scores, perpetuating systemic biases. This approach penalizes vulnerable groups such as young people, entrepreneurs, inventors, and minority communities.
- Some financial service providers resort to gamification tactics solely for profit-driven purposes, without genuinely empowering customers.
- Retail investors in traditional financial markets rarely receive recognition or rewards for their skills and efforts, further limiting their potential for financial growth.
While fintech has democratized financial services, financial literacy has not kept pace. Easy-to-use and gamified trading apps have drawn in inexperienced young investors without adequate financial literacy to manage risks, leading to tragic incidents like a 20-year-old user committing suicide due to a substantial negative balance.
According to inter-governmental organizations, only 33% of adults possess adequate financial literacy, a statistic that highlights the absence of basic personal finance education in schools.
The Mogaland team is deeply committed to finding an innovative solution that levels the playing field and empowers individuals with accessible and engaging financial knowledge. Mogaland's vision is to tackle financial inequality by creating a play-to-learn game where players can:
- 1.Learn financial literacy.
- 2.Be rewarded for their learning efforts.
- 3.Improve access to financial services.
Through an engaging and entertaining experience, Mogaland aims to revolutionize financial education and empower individuals to take charge of their financial future.