MNT-Halan’s Neuron Drives Massive Scalability for Egypt’s Leading Fintech
15.11.2021 13:40:00 EET | Business Wire | Press release
MNT-Halan, Egypt’s leading fintech ecosystem, has announced the successful roll out of Neuron, the proprietary core banking software it developed and launched earlier this year. 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, minimize risk of default and credit exposure, and enhance renewal rate.
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MNT- Halan Co-Founder and CTO Ahmed Mohsen, and Co-Founder and CEO Mounir Nakhla (Photo: Business Wire)
MNT-Halan CEO Mounir Nakhla commented, “In only 9 months Neuron has made a massive impact on our business, fuelling growth and enabling us to launch and provide multiple digital offerings. Neuron has allowed us to scale further, as we continue to serve the under-banked in Egypt and beyond. Whether merchants or individuals, customers are benefiting from the speed, safety, ease, and availability of Neuron. Not only are all our services now being provided digitally, Neuron facilitates new product offerings such as BNPL, e-commerce and supply chain finance. We are excited to see MNT-Halan reach its next level of growth and expansion as customers continue to embrace and expect the experience this proprietary technology offers.”
Ahmed Mohsen, MNT-Halan co-founder and CTO, added, “Neuron is a game changer. As the first core banking software in the Middle East and Africa, we built this technology to accelerate our trajectory and ability to scale, ensure frictionless transactions, predict customer behavior with precision through informed machine learning, and maintain the security of our customers’ data.”
Neuron is the only developed, distributed core banking software in the Middle East and Africa. Its features include:
- Scalability to concurrently handle millions of users; exponentially convert digital leads with smart credit decisions; autoscale to optimize resources; disburse new features continuously; and accelerate integration with third-parties
- Availability through a distributed system guaranteeing maximum uptime; low latency response times guaranteeing an optimal experience; and multi-datacenter deployment to keep data local geographically while enabling cross-border expansion
- Security with maximum controls of consuming data on a business need-to-know basis and full encryption to protect users’ privacy
- Machine Learning integrated across all business functions that reduces risks and increases productivity through default and renewal prediction, credit scoring engine, clustering of users using alternate data, behavioral analysis with respect to income and expense prediction.
About MNT-Halan
MNT-Halan is Egypt’s leading fintech ecosystem and the largest and fastest growing lender to the unbanked. Founded in 2018, with roots dating back to 2010, the company is headquartered in Cairo, Egypt. MNT-Halan was created to digitally bank the unbanked and substitute cash with electronic solutions. With c.1 million monthly active users, MNT-Halan serves more than 4 million customers in Egypt, of which 3.1 million are financial clients and 1.8 million are borrowers. MNT-Halan has obtained the micro, consumer and nano finance licenses from the Financial Regulatory Authority enabling it to provide services to both businesses and consumers across Egypt. It has also obtained the first independent electronic wallet license from the Central Bank of Egypt to disburse, collect and transfer money digitally through mobile applications. For more information, please visit the company’s website at www.mnt-halan.com.
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Contact information
MNT-Halan
Andre Valavanis
+20 100 3616992
avalavanis@mnt-halan.com
Eterna Partners
Communications advisors to MNT-Halan
Serra Balls
+44 777 576 3018
Hannah Burns
+1 917 365 2601
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