Mylo, the fintech subsidiary of B.Tech, has announced that it has obtained approval from the Financial Regulatory Authority (FRA) to offer full digital customer onboarding, making it one of the first companies to provide this service in Egypt.
This step represents a qualitative leap in financial services, allowing users to open their accounts entirely digitally without the need for paper transactions or branch visits, making the process faster and more convenient.
Mohamed Khattab, CEO of Mylo, stated:
“This achievement reflects Mylo’s commitment to empowering individuals and businesses through advanced and user-friendly digital financial solutions. We are redefining the consumer finance experience in Egypt, enabling users to access financial services instantly, seamlessly, and securely.”
Under the new license, customers will be able to open and activate accounts instantly Without the need to visit branches or conduct paper transactions. Obtain a credit limit within minutes From anywhere and at any time. Eliminate paper signatures Making the process faster and more efficient.
In line with its expansion strategy, Mylo has launched operations in several Upper Egypt governorates, including Assiut, Sohag, Qena, Luxor, and Aswan. It has also expanded to major Delta cities, such as Tanta, Mansoura, Banha, Damanhur, and Zagazig. The platform is planned to be launched in Cairo and Alexandria by mid-year, further enhancing its presence across Egypt.
As part of the B.Tech group, Mylo reflects the parent company’s commitment to providing innovative financial solutions that support the needs of customers and businesses, contributing to the growth of the digital economy and financial inclusion.
With this step, Mylo solidifies its position as a leader in Egypt’s fintech sector, offering a seamless financing experience that eliminates traditional complexities, making financial services accessible to all.
