Monty Finance scales up growth plans with expansion into the Middle East

By Leandra Monteiro

London-based Monty Finance ramps up its international expansion plans with the rollout of FinTech solutions in the Middle East.

Bruno Martorano, CEO of Monty Finance said, “The UAE is an excellent market that provides an ideal platform for the company to accelerate its international expansion. The Emirates has a robust fintech sector that supports innovation. It is the best place to engage potential partners that will help us achieve our growth plans.”

According to a recent report by the Fintech Consortium, although the UAE is among the more progressive markets in the region in terms of financial services, 54% of its working population remains under-banked.

“It represents a fantastic opportunity for our suite of fintech solutions. Overall, the fintech sector in the Middle East is growing rapidly with a compounded annual growth rate of 30% with many businesses outside of the financial industry also looking to capitalize on digital trends. So now is the right time to push for digital-first solutions across sectors like payments and banking,” Martorano added.

As part of the expansion, the Monty Group will also launch the MyMonty platform in the UAE. The platform provides banking services that will allow anyone to send, receive or request money in just a few steps, with a smooth and seamless experience while still complying with regulatory requirements.

Charles Matta, SVP of MyMonty shared, “By partnering with us, banks will launch their own neo bank and companies will be able to run their fintech businesses while addressing their customers’ needs and achieving unprecedented levels of value. We offer a state of the art technology solution, flexible for numerous partnerships structure, enabling clients, banks, companies, and merchants to benefit from the new era.”

Monty Finance will be using the Seamless Middle East event to announce the roll out of MontyPay. The company plans to use the Seamless Middle East exhibition as a platform to engage with companies wanting to digitise their services. The annual event takes place on the 31st May/1st June at the Dubai World Trade Centre.