An unrivalled digital experience

Today’s world is in constant change, and so is consumers’ behaviour. Rapidly changing customer requirements and fast-developing technology have disrupted the whole ecosystem and changed our daily habits, forcing us to embrace the digital trend at all costs. Part of evolution is the rise of neobanks, with new start-ups born every day that support the growing demands for digital banking while meeting the needs of younger consumers and those who, until recently, had no access to banking services.

Monty Finance, the digital banking arm of Monty Group and a true advocate of financial inclusion, has ventured into fintech with MyMonty, a neobanking platform offering an empowering digital banking experience.

Beyond all traditional payment methods, MyMonty provides a global digital experience like no other. Whether you are unbanked or underbanked, underserved or tech-savvy, you can now benefit from a fully digital experience allowing you to send, receive and request payments to anyone, anywhere at any time, without any hidden fees.

By integrating the latest technologies, this unrivalled neobanking platform guarantees a seamless and unique experience you will be able to enjoy right after passing a very simple and smooth digital onboarding. Through a fully secure and user-friendly interface that is compliant with the highest standards, you can now open an international bank account, manage and control your spending, activate/deactivate your cards remotely and much more in just a few clicks. That’s in addition to many more useful and advanced features, such as digital lending, artificial intelligence, virtual and physical cards, loyalty management and payment instruments.

The go-to neobank

MyMonty’s vision is to become the go-to neobank with clear ambitions to cater to the needs of unbanked, underbanked and underserved communities around the globe. “We don’t target a specific segment or limit ourselves to a region or a country – instead, we are seeking further expansion,” says Charles Matta, SVP Head of Strategy, Corporate Finance and Business Growth at MyMonty. “As part of our long-term strategy, we see the whole world as one global village and we are constantly looking to expand, diversify and enter new markets at the international level. After going live across Europe in January 2022, we are currently finalising the last steps before becoming operational in the US.”

With neobanks bridging the gap between the services that traditional banks offer and the ever-changing expectations of customers in this digital age, it’s only natural to embrace a customer-centric approach. Needless to say, MyMonty’s uncompromising focus on customers is embedded into its DNA. Accordingly, the tech team is capitalising on artificial intelligence to cope with consumers’ needs through five core value factors: efficiency, user experience (UX), scale, cost and risk.

The rise of a new strategic trend

In this digital era, both the world and customers’ expectations are changing at a breakneck speed, hence the growing demand for partnerships – a new trend proven to be key for success in the current ecosystem. Neobanks are accelerating their time to market by joining with other B2B fintech companies, BaaS providers and conventional banks. By partnering with fintech, these neobanks can cater to niche customer segments that were not originally targeted by traditional incumbents, from SMEs to the unbanked.

Fintech partnerships also enable start-ups to offer a greater range of products and services at a much cheaper rate. Ironically, the most strategic partner for a fintech start-up, unlike what is commonly perceived, is a licensed bank. These start-ups seek partnerships with banks aiming to widen the breadth of service along with features and a UX specifically geared to their customers’ sensibilities.

“Our group has always capitalised on strategic partnerships and all mobile operators we deal with are considered our partners,” states Bruno Martorano, CEO of Monty Finance. “As part of our vision, partnerships are a must. Conquering the world on our own is impossible, so the only way to offer a client-centric proposition is to join forces. Our main objective is to build on what has been achieved to better serve customers across the globe.”

It is worth mentioning that MyMonty has finalised a strategic partnership to go live across the European economic area and is currently in discussion with different potential partners in the Middle East and Africa.