User:Ankhbayar Binderya/MOST Fintech

MOST Fintech LLC
Company type	LLC
Founded	2008.04.23
Founder	Sukhdorj .A
Headquarters	Sukhbaatar square,Central tower, 17th floor
Area served	Mongolia
Key people	Orgil .S - CEO Sukhdorj . A - Chef of the board of directors Ganbold . B- Representation of shareholders Munkhtsetseg .B - Independent board member
Products	Most Money; MOST Platform; QRC service; White label; Credit score;
Number of employees	17 ("2022")
Website	www.most.mn

MOST Fintech LLC is the first fintech company in Mongolia.

On April 23 2008 started as "MOST PSP LLC" then, later on, changed its name to "MOST Fintech LLC"

In 2012, it launched a world-class, pluggable, open port payment core system. Launched "Most Money" based on its payment platform in 2010.

History[edit]

Since 2006, it started as an establishment of settlement centers and introduction of shared service business projects.

In 2008, the company started by investing in Mobicom Corporation LLC. At that time, the only mobile operator which could ensure the confidentiality of the financial institution's account was the main criterion Mobicom Corporation LLC's investment. In 2010, the first "Most Money" service was introduced to the market by introducing the Mobile payment system of Trivnet LTD company from Israel, which is worldwide famous for its bankers.

Most Money was introduced by branching out into the market under the names of MobiExpress, Candy, and Monday.

Since the foreign system was expensive and not very suitable for Mongolia, in 2010 hired Grapecity for the basic system for a Mongolian company, and in 2011 it received an "Advanced Mobile Payment Acquiring Gateway" system, which is 100% domestic company made by Mongolian youth ingenuity.

In 2012, the brand new Most Money service was introduced in cooperation with Trade and Development Bank of Mongolia, Capitron Bank, and State Bank, which in many ways became the first in the financial and settlement market of Mongolia.

From 2014, Setting up a system for not only the Bank but also the NBFC customer to use the Mobile Payment Settlement Platform for financial services was very innovative at the time can be shown by how Financial Regulatory Commission added a new implementation of regulations issue for this service.

Every innovation faces difficulties, and problems didn't skip MOST being an icebreaker in this field. At that time there was no law in Mongolia about doing online transactions through different banks, and controlling bank accounts using the mobile phone. Because of that "The Bank of Mongolia" had no choice but to announce the "MOST platform" as illegal. It was considered illegal because there was no law about its service. But in 2017 The law on the national payment system was approved, and the foundation for the development of the FINTECH industry in Mongolia was laid. In 2020 The National Payment System Law and the requirements of the Bank of Mongolia's "Mobile Banking Service Regulations" were fully met, and the approval of the "Mobile Bank Processor" was officially received by the order of the President of the Bank of Mongolia.

The MOST platform provides payment platform services to 4 Banks, more than 20 NBFCs, and more than 100 postpaid and prepaid institutions.

Vision and Mission[edit]

Building a national payment infrastructure based on the best technological solutions and architecture.

Open to all. Being open to cooperation with organizations in all sectors of banking, finance, fintech, and business.

Board of Directors[edit]

Sukhdorj .A , Founder, Shareholder, Chef of The Board of Directors

Orgil .S, CEO

Otgonbayar .T, CBO

Urnaa .N, CFO

Tsolmonbaatar .J, CDO

Licence and Certificate[edit]

The National Payment System Law and the requirements of the Bank of Mongolia's "Mobile Banking Service Regulations" were fully met, and the approval of the "Mobile Bank Processor" was officially received by the order of the President of the Bank of Mongolia dated June 16, 2020, No. A-204.
ISO 27001:2013 international standard for information security