Egypt’s MNT-Halan successfully rolls out proprietary core banking system software
MNT-Halan, 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.
Disrupt Africa reported in September the company had secured a US$120 million investment by major global and regional growth investors to further develop its product and expand internationally, and it has now announced the successful rollout of Neuron.
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.
“In only nine 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,” said MNT-Halan chief executive officer (CEO) Mounir Nakhla.