- MyMonty signed a number of strategic partnerships on the BaaS model in the Middle East and Africa region.
- MontyPay is achieving robust growth in over 50 countries since its launch in 2021
- Innovative solutions such as in-store payment, QR code self-checkout and a white label merchant management system in progress
Dubai, UAE: London-based technology provider Monty Finance, the fintech arm of Monty Holding, has announced ambitious expansion and growth plans at the Seamless Middle East exhibition held at the Dubai World Trade Centre. Monty Finance aims to expand its customer base and ride on the embedded finance sector, focusing on Banking as a Service (BaaS) to deliver seamless and personalized banking experiences.
Under its umbrella, Monty Finance offers financial technology services including MyMonty, a fintech enabler that offers exceptional digital banking services to individuals and financial institutions, and MontyPay, an advanced global payment service provider that offers a unique range of innovative payment services for a seamless payment journey, among others. The company aims to leverage the Seamless Middle East event to reinforce its global reach.
Charles Matta, Chief Strategy and Partnerships Officer at MyMonty, who emphasized the importance of the Seamless Middle East event, stated: “Seamless Middle East provides an invaluable platform for us to connect with potential partners and engage with a dynamic audience. The Middle East, with its booming fintech sector, represents an incredible opportunity for growth and innovation.”
According to a recent report, the GCC countries have a competitive advantage in fintech, with a significant proportion of the population having access to digital fintech services. The report further stated that non-cash payments in the UAE alone are expected to account for 73 percent of the total transaction volume by the end of 2023.
Mr. Matta further emphasized the importance of the region, “The Middle East is becoming a significant hub for fintech and we believe that our cutting-edge solutions will meet the growing demand for digital financial services here. Our strategy is to build meaningful partnerships that will drive our growth in the region and globally.”
MyMonty leverages built-in finance to offer a wider range of financial products and services within other applications and platforms. This approach allows MyMonty to reach new customers and offer tailored financial solutions tailored to their specific needs and preferences. Neo-banken has signed strategic partnerships in the Middle East and Africa region, focusing on innovation and technology to create a robust ecosystem of partners that can support various players in the financial industry.
Meanwhile, MontyPay has also seen strong growth since its launch in 2021. It currently operates in over 50 countries, with direct presence in the UK, Lebanon, Jordan, Nigeria, UAE and Indonesia. The company has invested significantly in technology infrastructure, product development and customer support operations. Its comprehensive omnichannel solution has enabled businesses to grow across multiple industries. Notable partnerships are integral to MontyPay’s growth with major acquirers such as Stripe, Network International and many others.
Noel Moukheiber, managing director of MontyPay, highlighted the company’s successful expansion strategy, “Our growth has been remarkable, reaching more customers in regions around the world. Our investment in technology and product development has provided our customers with robust and feature-rich payment processing solutions, which have significantly improved overall customer satisfaction.”
Moukheiber also highlighted the future prospects of MontyPay, saying: “We are currently in the process of obtaining additional licenses in several countries such as Nigeria and Saudi Arabia, which will strengthen our market positioning. We are also launching new solutions such as in-store payments, self-checkout of QR code and a complete white label merchant management system. These additions will further enhance our value proposition and meet our customers’ needs.”
With a vision to become a leading player in the global payments and fintech ecosystems, Monty Finance is eager to launch its new solutions, set a new standard for the global fintech sector, and offer businesses unprecedented levels of control, security and convenience in banking. and payment processing needs.
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About MyMonty
MyMonty is a leading new banking platform that is redefining the landscape for financial services. With a commitment to innovation and client-centricity, MyMonty offers an empowering digital banking experience coupled with competitive offerings and advanced AI-powered features. As a trusted FinTech enabler, MyMonty leverages its extensive expertise and industry knowledge to support banks, fintech startups and technology companies on their digital transformation journey, helping them scale their business. MyMonty’s comprehensive suite of services covers different needs, ensuring a seamless and personalized banking experience. Through its ground-breaking digital platform, individuals gain access to a range of financial solutions tailored to their unique needs. In addition, Monty Finance provides financial convenience with MontyPay, a state-of-the-art global payment gateway that offers innovative payment services for a frictionless online payment journey.
About MontyPay
MontyPay is a recognized global payment service provider that offers support to merchants in 50 countries with a comprehensive range of payment solutions. MontyPay offers a comprehensive package of services that includes physical and digital payments, self-service cash registers, omnichannel platforms and white label solutions. Driven by its vision to expand global reach, MontyPay is actively pursuing PSSP and PTSP licenses in Nigeria and Saudi Arabia respectively. This strategic expansion aims to enhance MontyPay’s presence and capabilities, providing merchants with a complete payment orchestration solution that caters to different markets and customer preferences.
