HML provides personal loans, asset finance and term deposits.
MoniPlus FX is a division of Heduru Moni Ltd (HML). HML added the international payments arm, MoniPlus FX, to their financial institution in 2012 when they were approved as a foreign exchange dealer.
International Payments were previously controlled by the Banks. MoniPlus needed a highly scalable solution to compete with local banks while providing customers with competitive rates and an online system to drive change as to how PNG people transferred money internationally. In addition, they needed an application to meet the detailed reporting requirements of the central bank of Papua New Guinea.
MoniPlus has been a loyal customer of Cymonz since 2012 and is still in 2021.
Out-of-the-box: Cymonz provided MoniPlus with an out-of-the-box solution, a feature-rich scalable platform that increases customer satisfaction and reduces costs.
Full agnostic integration: As MPFX did not wish to transact with local banks, Cymonz sourced and integrated the FX and payment providers that form the MPFX payment network.
Planning across the business: Cymonz was involved in all aspects of their business, from the technology build, regulatory licensing through to staff employment and sales plans.
Cymonz technical solutions that created the solution:
MoniPlus launched and continue to operate a successful foreign exchange business that’s challenging local banks throughout Papua New Guinea.