We are pleased to announce the launch of the GSMA Innovation Fund for AI Enabled Financial Health (“the Fund”), designed to support for-profit, private sector small and growing enterprises in low-and middle-income countries (LMICs) across Africa, South Asia, and Southeast Asia. The Fund aims to test and scale commercially viable AI-enabled innovations that improve financial health outcomes for underserved populations in LMICs, while generating evidence on where and how AI can deliver additionality and meaningful impact.
Over the past decade, digital financial services (DFS) have significantly expanded financial inclusion across LMICs According to the World Bank’s Findex database, account ownership in LMICs increased from 42% in 2011 to almost 80% in 2024, driven largely by the rapid expansion of mobile money.[1] [2] Despite this progress, important gaps remain. Many populations continue to face barriers to accessing and using formal financial services, and financial access remains a critical foundation for financial inclusion and financial health. At the same time, increased access does not necessarily translate into regular or meaningful use or improved financial outcomes for users. While there are now 2.3 billion registered mobile money accounts globally, including 1.2 billion in Sub-Saharan Africa, only around one in four is used on a monthly basis.[3]
As digital financial ecosystems mature, the challenge is increasingly shifting beyond account ownership towards improving financial health outcomes. Financial health is defined as a consumer’s ability to manage daily finances, meet future financial obligations, maintain financial resilience to shocks, pursue financial goals, and feel confident about their financial future.[4] In parallel, advances in artificial intelligence (AI) create new possibilities for supporting these outcomes. AI is already being used across financial services for applications including, for example, credit assessment, fraud detection, customer support, personalisation and financial decision support. Generative AI is further expanding the range of potential applications by enabling more personalised, accessible and context-aware interactions with users. AI-enabled applications are also emerging beyond traditional financial services. AI may support people’s financial lives through access to information, livelihood and income opportunities, social protection and other services where there is a credible pathway to improved financial outcomes.
However, the evidence is fragmented on whether and how AI contributes to better financial health outcomes for underserved users. This includes people who have access to financial services but remain underserved by their design, relevance or utility, resulting in poor financial health outcomes or continued financial vulnerability. As AI-enabled DFS solutions increase globally[5], it is critical to understand which approaches deliver meaningful improvements in financial health, for whom, and under what conditions.
Against this backdrop, the Fund will support AI-enabled innovations that demonstrate the potential to deliver meaningful, lasting improvements in financial health. Rather than treating access to financial services as an end in itself, supported innovations must contribute directly to one or more of the following three outcomes:
- Resilience and protection: helping people prepare for, manage and recover from unexpected financial shocks, while reducing the financial harm they can cause. This could include AI-enabled fraud detection and consumer protection, risk and early-warning information, or tools that connect people to timely support or emergency resources.
- Financial agency and control: helping people make informed financial and livelihood decisions, access meaningful options and feel more in control of their financial lives. This could include AI-enabled personalised financial coaching, including in local languages, market and pricing information, or other tailored information and advisory services.
- Long-term security and goals: helping people meet future financial needs, build greater financial security and make progress towards longer-term goals, including through more stable or diversified incomes. This could include AI-enabled employment or market matching, livelihood and market advisory, or personalised tools supporting saving and longer-term financial planning.
Within these outcome areas, the Fund welcomes applications from small and growing enterprises developing AI-enabled solutions that directly serve low-income and vulnerable populations, as well as deep-tech or ecosystem-level innovations, such as local-language models or edge and on-device AI. In either case, applicants must demonstrate how their proposed solution contributes to one or more of the financial health outcomes outlined above.
Applications are particularly welcomed from:
- Organisations that demonstrate a strong commitment to reaching underserved populations, including women and girls and people with disabilities;
- Organisations that are locally led or have a strong presence in the country of project implementation;
- Organisations with a clear value proposition for mobile network operators and other technology companies that could help scale the business model in the short or long-term.
Through our partnership with the UK Foreign, Commonwealth and Development Office (FCDO) successful organisations will receive grant funding of GBP 100,000 to GBP 250,000; alongside a broader package of support including technical assistance, opportunities to connect with investors and other ecosystem stakeholders, participation in learning and knowledge-sharing activities, and increased visibility through GSMA publications and events.
Applications are open until 17 December 2026. For more details on eligibility requirements, funding and the application process, please see our Terms and Conditions.
The GSMA Innovation Fund for AI-Enabled Financial Health is currently funded by the UK Government’s Foreign, Commonwealth and Development Office (FCDO) through its Global Research and Technology Development portfolio and is supported by the GSMA and its members.
[1] World Bank (2025). The Global Findex Database 2025
[2] See GSMA SOTIR
[3] GSMA. (2026).The State of the Industry Report on Mobile Money 2026
[4] GSMA Inclusive Digital Finance
[5] CGAP (2025) AI’s Promise: A New Era for Financial Inclusion | Blog | CGAP.