Banque Misr signed a memorandum of understanding (MoU) with of MoneyFellows, an electronic platform application allowing users to save by paying a fixed monthly amount. The bank will be providing MoneyFellows with payment services to develop together new disbursement, collection tools that suit the needs of online money circles’ users. Under the deal, both parties will cooperate in exploring and finalizing a framework and a roadmap to digitally serve MoneyFellows’ customers, in addition to providing them with digital solutions to grant more convenience and ease.
The services include a package of payment and collection products. Signing the deal falls in line with Banque Misr strategy to localize advanced technological services in its various dealings to ensure it keeps pace with Global development in these areas. Founded in 2014, MoneyFellows is an electronic platform application allowing users to save by paying a fixed monthly amount, each of which is to be rotated on the full amount at the time specified in the application by MoneyFellows.