Lebanon at the forefront of innovators in digital economy
Beirut, Lebanon, May 21, 2024 - In a press conference held today in Beirut, Arab World Technologies AWT (Fintech) introduced its innovative capabilities in developing advanced financial solutions.
The company’s chairman, Abdallah El-Dib, and CEO, Ramzi Saboury, showcased the extensive features and robust security of a comprehensive e-wallet and financial platform developed by AWT, under matensa name, aiming at facilitating seamless communication between consumers and financial entities such as banks, financial institutions, telecommunications companies, and others.

matensa serves as a comprehensive social financial platform. It offers a wide range of services and holds both an ISO 27001 certificate and a BDL e-wallet license.

“Our e-wallet concept originated in Australia but was brought to life in Lebanon” said Abdallah El-Dib, a Lebanese-Australian financial adviser with over 23 years of experience managing award-winning companies in financial planning, accounting, and mortgage management in Australia who believed in leveraging Lebanese talent for this innovative platform. “Lebanon’s financial sector faces significant challenges, including a cash-based economy, inefficient financial dealings, and inadequate transaction management software, causing widespread issues. Recognizing this gap, I invested in Lebanon and leveraged my expertise with AWT to develop advanced solutions. Over the past four years, we employed local talent to create innovative technologies, exemplified by the matensa platform with its advanced engineering, unparalleled security, and resilience against disruptions or cyberattacks, and effectively addressing these challenges and fostering positive change” Mr. El-Dib said.

Arab World Technologies is a fintech enabler, delivering advanced solutions to financial institutions globally. As per Ramzi Saboury, “the establishment of matensa in Lebanon instills trust and confidence among our clients across all regions”.

Arab World Technologies’ matensa platform is built on five fundamental pillars:

E-Wallet: Facilitates secure payment transactions between companies and individuals, as well as peer-to-peer transactions, adhering to global and industry standards for fund transfers Financial Management: Enables the creation and execution of fixed agreements and subscriptions with service providers, maintains detailed records of all transactions, protects sensitive information, and includes automatic payment alerts.
Financial Literacy: Empowers users to manage their finances responsibly by offering rewards for timely payments, assessing financial behaviors, and providing tailored articles. The platform also includes a rating system and unbiased evaluations of financial conduct, all while ensuring complete privacy.
Market-Place: Functions like a social media platform, facilitating connections between SMEs and their customers. Users can create communities and groups, offer discounts, and enhance engagement. They can also showcase products in an online store, browse and purchase goods, recharge mobile phones, and access various services such as ticket purchases, tutoring, and guest house reservations.
Business Development: AWT goes beyond software solutions by collaborating with partners to market their services, offering proven strategies tailored to their specific needs.
Mr. Saboury explained that the platform’s technology is customizable, ensuring a high-quality user experience, data privacy, and swift browsing across all features. “We are working to revolutionize daily financial interactions and encourage secure digital payments in an easy-to-use environment. matensa has successfully passed rigorous live and field-testing stages and has been certified by financial technology leaders”