London-based technology provider Monty Finance revealed it is ramping up its international expansion plans with the roll out of cutting edge fintech solutions in the Middle East. Although the UAE is among the more progressive markets in the region in terms of financial services, 54 per cent of its working population. 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 per cent 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.
The Monty Finance leadership team is confident MyMonty and MontyPay will thrive in the region, where smartphone penetration is among the highest in the world at 91 percent and the regulatory framework is aggressively pursuing measures to enable the market to transition to a cashless economy. MyMonty, the new digital banking platform by Monty Group, offers the fastest, most secure, and unrivalled global digital banking experience going beyond traditional payment methods. By integrating the latest technologies, MyMonty provides a seamless and unique user experience meeting all your financial needs. Our devoted, agile, and multicultural team is committed to go the extra mile in digitizing your future and making your life easier. MontyPay, the new global payment gateway by Monty Group, provides a smart and powerful payment solution that helps you grow and scale your business. Launched in 2021, this trusted online platform offers advanced features such as Online and Mobile Checkout, Pay by Link and QR Code, cryptocurrency payment, among many others, while complying with high standards or compliance, risk, and fraud prevention. It also allows millions of customers to enjoy a seamless and secure online payment journey and a better shopping experience by giving them the chance to Buy Now Pay Later.