Mizen provides a centralized online platform for managing personal finances, offering tools for budgeting, investment tracking, and debt management. By aggregating financial data from multiple sources, Mizen gives users a comprehensive view of their financial health and personalized recommendations to improve their financial well-being.
Funding
Funding not disclosed
Founders
Product
Problem
For individuals adhering to Islamic finance principles, traditional banking services pose a challenge due to the prohibition of "riba" (interest). This makes managing finances and accessing ethical financial products difficult.
Solution
Mizen provides a mobile banking solution that adheres to Islamic finance principles, offering a "riba"-free current account and debit card. Funds deposited are not lent out with interest or invested in activities considered unethical. Mizen is regulated by the National Bank of Belgium (BNB) and deposits are held in segregated accounts, ensuring security. The company aims to provide accessible and transparent financial services that align with Islamic values.
Target Audience
The primary target audience is individuals in Europe who adhere to Islamic finance principles and seek ethical banking alternatives.
Features
- Current account and Visa debit card compliant with Islamic finance principles
- Funds are not lent out with interest or invested in unethical activities
- Regulated by the National Bank of Belgium (BNB)
- Deposits are held in segregated accounts, ensuring funds are guaranteed
- Mobile app for account management
- Multiple subscription tiers, including a free option
- Biometric authentication for security