Monefit – an innovative online credit solution

Monefit is an Estonian credit company founded in April 2017. The company was created as an independent branch of the Creditstar Group, a leading international digital consumer finance company. 

Creditstar uses automated processes, algorithms, and data analysis to make financial products readily available to a population of more than 175 million people in their target markets.

As an extension, Monefit is a credit line service similar to a credit card. In terms of speed, interest rate, and amounts, Monefit can be compared to a quick loan. The difference is that you get a specific limit up to which you can always apply for a credit – but you don’t have to use everything at once.

Therefore, Monefit is a genuinely innovative solution in online credit. It is a service that offers independence from the overly regulated banking system and the freedom to make your financial decisions in the way you think is necessary or suitable.

The main differentiator is that they give their customers the freedom to open a credit line for free, which then grants them access to the amount they need at the time they need it, without having to complete lots of paperwork and fill out applications. It can even be compared to a digital wallet – if you have already applied for a credit line once and have been given a specific credit limit, it is almost as easy as a regular credit card.

How BIND got involved 

Our team here at BIND knew Monefit via various previous consultations on fintech and native mobile development topics; this is because mobile app development is one of BIND’s well-known strengths, in addition to fintech domain development services. 

This connection naturally grew into a partnership while building the Monefit brand. They needed a lean development partner to open new markets rapidly, expand safely to support in-house dev teams with external partners, and integrate modular banking systems – and we happily came to the rescue.

To fulfill its promises to its customers, Monefit had to be a fast, simple, straightforward, and flexible financing service offering the latest trends on fintech services that clients may need in various situations. This is why we assisted with modular banking systems and well-working development teams, both internal and external, to support the expansion over Europe and abroad. 

In addition, they needed close monitoring and a quick reaction if something happened, careful UI testing, resources to facilitate the market expansion, and someone to handle the scaling for campaigns and rapid growth. 

As a solution, BIND’s extended team was able to offer expertise on frameworks and other development tools, such as Vue, React, NodeJS, PHP, etc., as well as domain knowledge and the latest fintech technology. 

Through cost-effective independent backend and frontend scaling and fast expansion to new markets via modular and extendible systems, we helped Monefit achieve its vision and offer the best service for its clients.

When you work as a team, you can accomplish anything

BIND strives to create an environment where our partners feel comfortable and listened to. We can only accomplish this through graceful cooperation and a future-oriented mindset. 

Firstly, we offer consultancy services to help companies make the best technical decisions. As part of our proactive approach, we are always mindful of our customer’s needs. The emphasis is on launching the service quickly, which is why we assist with testing ideas out as soon as possible.

As a result, we are cost-effective and offer close monitoring, immediate support, and ongoing development. 
In addition, BIND operates as an integrated side partner for companies; we take care of their problems, so they continue consolidating all of their attention and internal resources on their own clients and on achieving business goals.