Dubai, United Arab Emirates – 16 May 2024: Monty Finance, a leading innovator in digital finance solutions, participated in the 2024 edition of Seamless Middle East, the premier global event for the payments, fintech, and financial services industry. Monty Finance showcased the versatility and comprehensive capabilities of its flagship ventures, MyMonty and MontyPay. The highlight on these is a strategic decision in light of their successful application and adaptability in both B2B and B2C markets. This dual-market expansion strategy reflects Monty Finance’s commitment to broadening its customer base and enhancing user engagement across different sectors.
Digitizing Personal and Business Finance with MyMonty
Monty Finance announced the readiness of MyMonty for global rollout as an adaptable, white-labeled digital banking solution designed for seamless integration across markets. Already a popular choice among European banks and financial institutions for B2B integrations, MyMonty provides customized digital solutions that enhance their service offerings. This year, Monty Finance is eager to demonstrate how MyMonty applications have been thoroughly tested and optimised in select markets, marking a strategic shift towards consumer-focused services.
Part of this shift includes the launch of MyMonty app, designed to transform the customer banking experience. With an emphasis on convenience and user-friendly services, MyMonty allows new users to effortlessly set up their accounts within minutes, bypassing traditional banking hurdles such as lengthy queues and extensive paperwork.
The app offers a personalised selection of virtual cards, allowing users to choose designs that best suit their lifestyles and personalities, marking a significant advancement in customised financial services. The app also offers an exclusive Premium card, which combines sophisticated design with functional elegance.
As part of its services, MyMonty facilitates global connectivity with its cross-border transfer feature, enabling users to engage in free P2P transactions across more than 160 countries — a vital service for the expatriate community and global travellers. Additionally, MyMonty provides specialized loan services, a unique feature that distinguishes MyMonty from other apps available on the market.
Introducing MontyPay’s New Services
MontyPay is set to transform the payment sector with the launch of three groundbreaking services: in-store payments, self-service checkouts, and eCommerce solutions. Tailored to meet the diverse needs of its merchant partners, these services highlight MontyPay’s leadership in the Middle East as the first payment service provider to seamlessly integrate loyalty and lending options into its platform, thus enhancing the financial interactions between merchants and their customers.
MontyPay’s Omnichannel Solution seamlessly integrates online and offline sales channels, enhancing customer engagement and maximizing sales potential. Additional features like smart routing and payment links streamline operations, while real-time analytics and fast settlement options ensure efficient financial management. MontyPay also offers its services as a white-label solution to PSPs and acquirers, enabling them to expand their business offerings. Through strategic partnerships with acquirers, PSPs, and wallets worldwide, MontyPay offers a versatile range of payment options that cater to international merchants by reducing transaction costs and increasing accessibility.
With a presence in six countries and serving merchants in over 50, MontyPay is poised to enter the Saudi Arabian market next year, continually broadening its global reach.
A Glimpse into the Future with MyMonty Tech
At Seamless 2024, attendees had the exclusive opportunity to preview the upcoming Monty Business App – MyMonty Tech, set to launch next year. This innovative application is strategically designed to cater to the unique demands of the business sector, integrating essential features such as FX trading, comprehensive payment systems for providers, and seamless third-party transactions.
MyMonty Tech introduces a comprehensive suite of fintech solutions tailored for banks, fintech innovators, and telecommunications companies, aiming to simplify and enhance digital financial services. In addition to core banking functionalities, MyMonty Tech offers a low-code/no-code platform that empowers financial institutions to configure intuitive front-ends, integrate seamlessly, and build customised workflows for a range of financial products. This platform supports a diverse array of services, including comprehensive AML processes, and innovative payment solutions, all designed to provide secure, scalable, and efficient financial operations.
With its commitment to providing out-of-the-box solutions that are easy to integrate and use, MyMonty Tech is positioned as a key player in facilitating the digital transformation of the financial services industry.
About MyMonty
MyMonty is a leading neo banking platform that is redefining the financial services landscape. With a commitment to innovation and client-centricity, MyMonty offers an empowering digital banking experience coupled with competitive offers and advanced AI-backed features. As a trusted FinTech enabler, MyMonty leverages its extensive expertise and industry know-how to support banks, fintech startups, and technology companies on their digital transformation journey, helping them scale their business. MyMonty’s comprehensive suite of services caters to diverse needs, ensuring a seamless and personalized banking experience. Through MyMonty app, individuals gain access to a range of financial solutions tailored to their unique requirements. With an impressive array of services including wallet accounts, transfers, payments, lending, and upcoming remittances, the app redefines the concept of seamless money management.
About MontyPay
MontyPay is a renowned global payment service provider that offers support to merchants across 50 countries with an extensive range of payment solutions. MontyPay offers a comprehensive suite of services encompassing physical and digital payments, self-service checkout, omnichannel platforms, and white label solutions. Driven by its vision of expanding global accessibility, 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 diverse markets and customer preferences.
