Jordan’s Money.Jo Deploys FIS IT Backbone


FIS and Money.Jo have teamed up to adapt to rapidly changing consumer habits in the Middle East.

Less than a year after launching its operations in Jordan, Money.Jo (also known as Money for Finance) has become the country’s leading consumer credit provider, with monthly payments of $ 3.9 million. euros. The company which focuses on offline single payment unsecured loans, has built its operations on the infrastructure developed and provided by Finance IT Solutions (FIS) – a Latvia-based company with over 10 years of experience in the domain.

Money.Jo, a joint venture created by the founders of global financial firms Cream Finance and Esketit, entered the Jordanian market in December 2020. The company provides loans ranging from € 20 to € 1,000 to qualified applicants through a network of storefronts in major cities of Jordan. . Although 95% of its customers have bank accounts, the company can provide them with the convenience and speed of decision making that Jordanian banks still lack.

Rather than building its own IT infrastructure, Money.Jo has partnered with FIS.solutions, a company that has already helped more than 50 factoring, auto finance and consumer finance companies around the world set up implement a loan management system.

“Because we don’t have to rely on existing systems, we are able to turn around faster than most local banks. This benefits the consumer who wishes to obtain the loan on the same day, at the same time as he requests it. To achieve this, we needed a reliable and scalable IT system that would work well with Jordanian databases and credit rating providers. FIS.solutions was able to quickly adapt its model to our needs, which allowed us to focus on marketing and sales, ”said Matiss Ansviesulis, co-founder of Money.Jo.

Over the years, FIS has helped financial institutions from Colombia to Jordan with reliable and secure payment infrastructure solutions.

“Unlike other suppliers, we don’t push our customers to work with us forever. We are happy to create favorable recovery processes, once our clients grow and can handle the IT side of their operations on their own. Our product is designed so that we can work as a team with the internal IT team or offer a complete IT infrastructure, ”said Armands Liseks, CEO of FIS.

In addition to Money.Jo’s own capital, it relies on private investors who finance loans via the P2P platform Esketit.com. In its first year of operation, Money.Jo has already issued loans amounting to € 6 million, making it the country’s leading consumer lender.

About Kristina McManus

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