Telcos Shifting Towards A Digital-Native Model
In times where technology titans are capturing the market, telcos are forced to reimagine their business and embrace a future-back approach to transformation in order to survive and thrive in such a competitive environment. In fact, taking the digital leap is no longer an option especially that following the pandemic, customer behaviors leap-frogged five to ten years ahead. However, the transition to a more digital-native agile model is quite challenging and requires the right resources and expertise.
Why Venture Into Financial Technology?
Competing against digital natives is no small feat especially that telcos need to upgrade and reinvent their service portfolio if they do not wish to lose their share of the market to FinTech startups. Therefore, the only way for telcos to guarantee their perennity is to continuously improve customer experience by meeting their everchanging needs and expectations. In fact, it is no coincidence that big players with proven track record have ventured into financial technology to respond to these daunting challenges. A notable example is Etisalat who has partnered with leading players to launch a UAE based digital bank. By leveraging this synergy, the company has managed to address key customer pain points while offering a
broader portfolio of products and services.
MyMonty, the FinTech Enabler
As many telcos seek to ride the digital wave and capitalize on this opportunity to become leaders in the industry, we, at MyMonty, have been offering technological expertise to our clientele across the globe to help them grow exponentially.
We also provide a complete digital transformation that puts customers at the heart of the business. From defining the value proposition to building the proper strategy, choosing the right market, scaling, and
implementing the solution, MyMonty guides you in every step of your FinTech journey with a diverse range of services that can be tailored to your customers’ needs. Our know-how paired with our multidisciplinary expertise will actually help you take your business to the next level.
Leveraging our Expertise to Level Up your Business
Scaling your business requires first and foremost a proper strategy. This is where we step in, supporting you to overcome the industry’s challenges and achieve a competitive advantage through the implementation of the right strategy.
With our unrivalled expertise and data-driven insights, we assist you in putting in place the most efficient processes whilst anticipating and analyzing important trends that can impact the market in the future. Needless to say that we provide you with a solid development plan based on your new venture’s goals and objectives enabling you to achieve considerable market performance. Depending on the client needs, we can also provide support until the product is launched including execution, implementation, and technical support.
Our Core Banking Solution: Everything Telcos Need and More
A digital transition cannot be successful without the right technical infrastructure which is naturally the extension of the business strategy.
In addition to digital transformation advisory, MyMonty provides a full-stack technology, both on cloud or on premises. Our all-inclusive Core Banking solution is based on the Software-as-a-Service (SaaS) model and meets international requirements. For optimized security, we ensure the implementation of the latest compliance standards, namely the Strong Customer Authentication.
We also offer innovative solutions in areas such as mobile payments, peer-to-peer lending and blockchain, but also in areas such as back-office operations and financing.
Automated business processes to minimize fraud and manual input, improved security with role-based and different level access rights for multi-users along with ready-made and omni-channel for end-users and many more features, will help you support your business across one-single platform. Put to use our variety of banking services enabling you to launch your own FinTech business: Digital customer onboarding, AML/KYC, payments and transfers, currencies and rates, e-wallet, CRM, mobile and web banking app, loan origination, and card issuing to name a few.
Digitalization is Inevitable
By joining the digital revolution, telcos are not only expanding their offerings, but are also reducing a financial burden. Through the integration of banking services into their portfolio, they allow customers to manage all their finances from a single place, easily bringing new value and offering them more convenience. As the shift to digital is set to be permanent, telcos are required to embrace technological innovations, otherwise they will collapse.
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