Menta selects Agora for lending platform

Menta new fintech is revolutionizing access to credit for the non-banking consumer, has chosen Agora Services to launch its innovative lending platform.

The sub-banking sector represents more than 100 million Americans at a disadvantage from the current banking environment due to regulation and lack of financial education. Agora will supply Menta with the Banking-as-a-Service (BaaS) platform, which includes the most advanced digital banking features such as real-time integration, account opening, sub-accounts, money groups and real-time virtual card issuance .

Many non-banking consumers are not allowed to approve traditional credit services, such as credit cards or home equity loans, due to a minimal or outdated credit history that contributes to a lack of credit score. Menta, a Fintech founded by minority women, saw the need for credit-building services where recent players targeting sub-banks offer checking accounts. Based on experience and research, Menta has begun to build a credit platform that combines the digital neo-banking user experience with the lending services required to create credit for millions of Americans.

Then the founders of Menta began to create a more modern and robust platform to revolutionize access to credit for sub-banks. They rediscovered credit creation by leveraging the mobile and digital banking experiences required by consumers and offering real-time service and access to funds. The Menta platform will start with real-time account opening, real-time decision-making and fundraising with family and friends. Over the next year, Menta will expand its platform to become a Super App and include savings features, FX remittance, cryptocurrency support and other features that will be supported by non-bank account users.

“A lot of people – especially those from underprivileged or minority communities – are unaware of the benefits of a credit card loan program and what it can do for their credit score,” said Karen Jeffley, Menta Co-Founder. “Our goal is to educate and provide a service to help underprivileged adults have the opportunity to build their faith. This is exactly what we do with our cooperation with Agora “.
“We found out that Agora is more than just a provider, it is a true partner in this journey,” said Jeffley. “They have helped us define our products as well as the strategy which is quite unique and invaluable.”

Menta opted for Agora Services because of the BaaS Provider’s most advanced feature and service suite they could offer right away, along with a one-stop-shop for launching additional features when needed. Agora was started by fintech veteran Arcady Lapiro, who has more than two decades of experience in leading controversial banks, including the founding group that grew one of Europe’s first controversial banks from more than $ 20 billion in assets and assets. profitability within four years. Agora’s state-of-the-art technology allows fintech and retailers to fully customize their solution based on the market needs they serve. Modular banking allows the addition of specialized solutions on top of current banking solutions as well as other specialized offers to create a complete banking solution that is competitive in today’s market. Agora is the fastest growing BaaS provider after launching white label solutions on the Finastra Fusion Fabric platform, as it launches with another major core and feeds one of the largest heterogeneous business groups in the Middle East. Agora will also soon announce the first Community banks and credit unions to choose its platform.

“Agora is excited to work with Menta to create an innovative solution for this market,” said Arcady Lapiro, CEO and Founder of Agora Services. “Agora is able to fill the gaps and provide more customizable solutions for financial institutions that meet specialized needs such as credit creation. I believe in an approach based on a business structure and not a freemium solution, as Menta’s experienced team will provide full support to its success and we want to enhance its success and access to credit to this large part of our population ยป. .

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