Egyptian MNT-Halan Successfully Deploys Proprietary Core Banking System Software
MNT-Halan, Egypt’s leading fintech ecosystem, announced the successful deployment of Neuron, the proprietary core banking software it developed and launched earlier this year.
Having started life as a carpooling app for two and three wheel vehicles in 2018, MNT-Halan turned into something of a super app and thus became Egypt’s largest and fastest growing lender to the unbanked.
The startup’s proprietary fintech ecosystem connects customers, suppliers, and micro-businesses through its consumer app, merchant app, distributed loan and payment processing software, and payment solutions, as well as services such as carpooling and logistics.
Africa disturbance reported in September, the company secured an investment of US $ 120 million from major global and regional growth investors to further develop its product and expand internationally, and it has now announced the successful deployment of Neuron .
This distributed system enables frictionless management of millions of customers and multiple currencies. It also ensures maximum uptime which ensures uptime while maintaining maximum control over customer data. Importantly, it integrates all business functions through machine learning and AI to increase productivity, minimize risk of default and credit exposure, and improve renewal rate.
“In just nine months, Neuron has had a huge impact on our business, fueling growth and enabling us to launch and deliver multiple digital offerings. Neuron allowed us to grow further, while continuing to serve the underbanked in Egypt and beyond. Whether retailers or individuals, customers benefit from the speed, security, ease and availability of Neuron. Not only are all of our services now delivered digitally, but Neuron is facilitating new product offerings such as BNPL, e-commerce, and supply chain finance. We are delighted to see MNT-Halan reach its next level of growth and expansion as customers continue to embrace and expect the experience of this proprietary technology, ”said Mounir Nakhla, CEO of MNT- Halan.