New European entrant in banking and payments space – Monty Finance

Monty Finance, a new fintech based in the UK, has officially launched its suite of finance and payments products in Europe, following a soft launch earlier this year.

Its two main products are MyMonty, a digital banking service, and MontyPay, a digital payment gateway system.

Monty Finance team

The company says it differentiates itself by offering a customer support platform “in which artificial intelligence (AI) and actual human contact play equally large roles”.

Citing the lack of human intervention as a major source of frustration for digital banking users, Charles Matta, SVP of MyMonty, says the firm is rolling out hybrid customer support channels, including a video call feature.

MyMonty is currently available for business-to-consumer (B2C) but will be expanding to also enable other fintech players.

MontyPay is currently live in the European Union, the UK, Jordan, Bahrain, Nigeria, Indonesia and Singapore. It offers an onboarding system and a payments collection platform.

“MontyPay is designed with the user experience in mind,” says Noel Moukheiber, GM of MontyPay. “It will empower merchants with a dedicated merchant mobile app that gives them access to a reporting dashboard for easy tracking and monitoring. We are convinced that functionality like online and mobile checkout, pay by link and QR Code and cryptocurrency payments will help European customers scale their businesses successfully.”

Bruno Martorano, CEO of Monty Finance, says the fintech’s vision is “to connect people around the globe”.

He continues: “Europe is the most mature fintech market in the world, but we are still seeing large underserved demographics that are not fully satisfied with the existing financial services.

“Expats and immigrants, for example, still struggle to access local banking and are dealing with a lot of red tape in the traditional banking industry.

“Being able to help people to financially connect with their families and to help businesses succeed in the global economy is a privilege and we’re expecting huge outcomes from this region.”