Growing Egypt’s Fintech

Egypt’s leading fintech ecosystem, has announced the successful rollout of Neuron, the proprietary core banking software it developed and launched earlier this year. Having begun life as a ride-hailing app for two- and three-wheeler vehicles back in 2018, MNT-Halan has morphed into a super app of sorts, and in the process become Egypt’s largest and fastest-growing lender to the unbanked. The startup’s proprietary fintech ecosystem connects customers, vendors and micro-enterprises through its consumer facing app, merchant app, distributed lending and payment processing software, and payment solutions, as well as offering services such as ride-hailing and logistics. This distributed system enables the frictionless handling of millions of customers and multiple currencies. It also guarantees maximum uptime that ensures availability while maintaining maximum control of customer data. Critically, it integrates all business functions through machine learning and AI to increase productivity, minimise risk of default and credit exposure, and enhance renewal rate.

SOURCE: DISRUPT AFRICA