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|29 July, 2018

SAMA inks agreement with Monami Tech's Award Winning Digital Lending Platform Lendme

Landmark announcement for both SAMA and Monami Tech

SAMA inks agreement with Monami Tech's Award Winning Digital Lending Platform Lendme

Monami Tech enables consumer lending offering for SAMA with Lendme app

Dubai, United Arab Emirates - Al Hail ORIX Finance PSC, Parent company of SAMA, has announced the signature of a formal agreement and the formation of a strategic partnership with UAE-based award winning fintech payments company Monami Tech. The primary aim of the collaboration is to deploy Monami Tech's technology for SAMA’s business and consumer lending project.

This initiative will be an integral part of Al Hail ORIX Finance’s digital transformation with a full adoption of the platform now poised for completion.

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“Al Hail ORIX Finance is now ideally positioned to become a leading digitally empowered financial institution in the Country.” said Ammar Afif, Managing Director, Monami Tech.

Commenting on this relationship at a special signing ceremony held at the Address Boulevard, Afif added, “As a fintech disruptor, one of Monami Tech’s major value pillars is the importance we attach to constant innovation. We created Lendme, a frictionless digital service for financial institutions to provide instant loans at the point of decision across multiple channels, from e-commerce to merchants, and through mobile application. Digitizing lending upfront and as such avoiding overheads and lead times usually associated with activating a branch or retail footprint, will facilitate SAMA’s speed to market and give them a decisive edge with consumers.”

He added, “We work with institutions to bridge the gap between conventional and sophisticated services by utilizing a channel agnostic approach through modern digital solutions. As such we are delighted to be joining AL Hail ORIX Finance on this journey and look forward to helping them realize their vision and deliver on their business objectives.”

Arshi Islam, CEO of Al Hail ORIX Finance PSC elaborated on the tie up and said, "This is a vital technology partnership that will tangibly contribute to all aspects of our offering and visibly enhance the entire experience for our customers.”

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About Al Hail ORIX Finance

Established in 2002, the company is a joint venture between Al Hail Holding LLC, UAE and ORIX Corporation, Japan. Al Hail ORIX Finance is licensed and regulated by the Central Bank of UAE. The company is led by a team of dedicated professionals with expertise in financing and digital payments. Over the last 15 years, Al Hail ORIX Finance has created a strong and productive network with corporate customers, local partners, government agencies and associate companies worldwide.

 http://www.samacapital.com/

About Monami Tech

Monami Tech is an award winning fintech payments company specializing in helping financial services companies leverage the benefits of digital technology to enhance customer experience. We work with institutions to bridge the gap between conventional and sophistication through modern digital solutions. Our portfolio of market-leading solutions is focused on the delivery of the following pillars of value: Increasing revenue, reducing risk, increasing efficiency in operations, and enhancing customer experience.

Monami Tech has been in operation for 2 years and is headquartered in Dubai, UAE. Our solution suite extends across the entire payments value chain and assists in positioning institutions as a platform, innovating products and services and raising customers’ interest. Through simplification and digitization, we deliver customer onboarding automation platforms, digital wallets, loan origination systems, video conferencing, lending applications and others.

LendMe, brainchild of Monami Tech, was awarded by Seamless as Fintech Innovation of the Year 2018. Monami Tech has also been recognized as the Startup of the Year 2018 by the Dubai Multi Commodities Centre (DMCC) Member Awards.

https://www.monamitech.com/

For Monami Tech: BRAVE Communications Agency

Flo Janin

Zineb Laghzaoui

+971 50 912 7922

+971 50 915 8193      

f.janin@brave-agency.com                 

z.laghzaoui@brave-agency.com

For Al Hail Holding

Amal Al Mulla

+97155 861 4883

amal.almulla@alhailorix.ae

© Press Release 2018

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