To make financial access entirely digital and more streamlined, fintech mylo, a subsidy of the Egyptian omnichannel retailer and consumer finance platform B.TECH, has had its digital onboarding approved by the Financial Regulatory Authority (FRA).
Previously, onboarding required wet signatures or in-person KYC verification. However, with the new approval, traditional barriers are now eliminated, as mylo empowers users to onboard, activate their accounts and gain instant access to credit within minutes.
This achievement comes at an important time for mylo as it lines up with the fintech’s expansion strategy across Egypt. The service has already launched in most of Upper Egypt including Assiut, Sohag, Qena, Luxor, and Aswan, with Delta cities like Tanta, Mansoura, Banha, Damanhur, and Zagazig already operational. Alexandria and Cairo are scheduled for mid-year, completing mylo’s nationwide coverage.
As a subsidiary of B.TECH, mylo exemplifies the parent company’s commitment to providing consumers and partners in the home appliances and electronics sector with through integrated, quality solutions. Furthermore, this launch reflects B.TECH’s dedication to expanding beyond traditional services, contributing to growth across various governorates, and providing flexible financing solutions tailored to different segments and purchasing capacities.
Mohamed Khattab, CEO of mylo, stated: “This milestone is a testament to mylo’s vision of empowering millions of individuals and businesses with accessible, responsible, and innovative financial solutions, By blending innovative technology with a customer-first approach, we are setting a bold new standard for Egypt’s fintech landscape—revolutionizing the way people access and experience financial services.”
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