Monty Finance announces latest solutions for financial operations at Seamless 2024

Sajjad Ahmad, Deputy Business Editor

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.

Noel Moukheiber, General Manager at MontyPay Said,” The market of digital payment is growing worldwide and the Middle East and Africa region is no exception as organisations across region are digitising their businesses for more quick and secure operations.”

“We had an office in the UAE and planning to open new in Saudi Arabia to strengthen our presence in the region and meet the rising demand for our solutions.”

He added, “The development of regional e-commerce sector and digitization drive offer huge growth opportunities for our company. We are looking forward to increase our clientele in this region.”

He concluded, “We have showcased our latest solutions during the exhibition for small as well as big businesses to make payment easy and seamless.”

Toufic Arida, Chief Digital Officer at MyMonty said, “ Seamless Middle East offers a platform to industry stakeholders to connect with partners and showcased latest solutions. The regional digital transformation journey is on track as more and more businesses going towards digitisation.” He added, “digitisation is becoming mainstream in every sector of economy and our company is bringing latest products to accelerate the growth of seamless and secure money transactions.”

He added, “The UAE is a very competitive and mature market as a lot of players are operating here. We had an office here and see a very big growth potential for our company. We are expanding our operation in the region and investing heavily on the R&D.”

Digital banking solution: 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 specialised loan services, a unique feature that distinguishes MyMonty from other apps available on the market.

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.

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.