Money20/20: UK-based Monty Finance launches across the EU market

Announced at the annual gathering of European fintech professionals, Money20/20, Monty Finance’s lineup includes MyMonty, a digital banking service for the traditional unbanked, namely immigrants and ex-pats, and MontyPay, a digital payment gateway system that helps vendors to collect payments seamlessly. 

Originating in Lebanon, Monty cut their teeth by banking the unbanked in MENA and are now taking those lessons worldwide by focusing on underserved demographics, has relocated operations to London, and is now undergoing a major expansion to enable other fintech players across Europe.

Fully regulatory compliant, one area where Monty wants to set itself apart from incumbents is through a customer support platform in which AI and real-live humans share equal responsibilities.

‘What we’re seeing is that a lack of human intervention is a big source of frustration for digital banking users. So besides offering people a fast, secure, regulated and easily accessible digital banking experience,” explained MyMonty SVP Charles Matta. “We are also soon rolling out ​​hybrid customer support channels - including a video call feature - while committing to speedy customer complaint resolution to make sure we are there for them every step of the way.’

MontyPay is now live across Europe as well as being active in its originating markets including Jordan, Bahrain, Nigeria, Indonesia, and Singapore.

“After a soft launch of our services here earlier this year we couldn’t be more delighted to now officially enter Europe. Our vision is to connect people around the globe, and this represents a huge step in that process. Europe is the most mature fintech market in the world, but we are still seeing largely underserved demographics that are not fully satisfied with the existing financial services,” commented Monty Finance CEO Bruno Martorano.