Muhammad Ashraf – Transforming the FinTech Landscape with Mensa Technologies

In the world of financial technology, Muhammad Ashraf is a prominent figure as the CEO of Mensa Technologies. With a prosperity of knowledge in the technology sector, Ashraf’s expertise has proven invaluable in driving business growth. Having held key positions in different multinational companies, he has established himself as an industry expert with an established track record of success.

As a leader with extensive experience and skills, Ashraf has played a pivotal role in making Mensa Technologies a leading player in the financial services technology industry. Under his guidance, the company has extended its product range and technology services to complete the requirements of small businesses. With the goal of listing Mensa Technologies on an international stock exchange in the next two years, Ashraf’s leadership has brought the company to new heights.

Ashraf’s passion for technology and unwavering commitment to customer satisfaction have been the driving forces behind Mensa’s success. To learn more about Muhammad Ashraf and his innovative company, read our exclusive interview below.

A complete journey about the company? When you have started, how and where?

Although Mensa Technologies may appear to be just another FinTech startup since its inception in November 2018, we pride ourselves on being anything but ordinary. Our mission is clear: to cater to both the underserved and the mass affluent segments in an equally exceptional manner. We believe that focusing solely on the underserved segment can create the perception of receiving subpar services, whereas integrating the mass affluent segment ensures a holistic and equitable experience, as validated by our UX designs for our end-users.

Our services are divided into two distinct segments, offered in a Business-to-Business manner, where our end-users are exclusively registered through their respective organizations. This is why we refer to our approach as B2B2C –

MensaPay is a leading FinTech company that offers a cutting-edge digital wallet solution backed by a prepaid card with a reliable source of funds. Our extensive range of products includes Salary Disbursement Cards (WPS-related), Mall-based Gift Cards, Corporate Expenses and Other Payment Cards, Loyalty Redemption Cards, and Merchant Cards.

Mensa Technology Services provides comprehensive end-to-end business application services, complete with Cloud-based infrastructure. Our portfolio includes a cutting-edge CRM Lead Management application, which is currently undergoing its first pilot customer. We are also offering an efficient payroll application that integrates with WPS files, ensuring a seamless experience for our corporate customers.

Additionally, we have created a self-service sign-up and management platform for small businesses, enabling them to determine their household and business team for WPS salary. Our system generates WPS files automatically, eliminating the need for manual data entry on a computer. Best of all, everything is managed through a simple and user-friendly mobile app, making it incredibly easy for our customers to manage their payroll needs.

The Journey of the Entrepreneur

My professional journey spans several decades, beginning in May 1976 as an assistant teller at a prominent bank. Over the years, I have had the honor of working for esteemed multinational organizations such as IBM and Euronet Worldwide. During my tenure at Euronet, I held five concurrent positions, including MD and GM of the Middle East, member of the board at two entities in MEA and Pakistan, and Regional Director of Operations of MEAP. Following my retirement from Euronet, I served as the COO at Mint Middle East before being appointed as the CEO of Mensa Technologies.

My advice for those just starting out in their careers is to apply the same five senses in the workplace as in life: a feeling of obligation, ownership, speed, direction, and above all, common sense. These essential senses cultivate a positive and optimistic attitude towards work, creating endless possibilities for personal and professional growth and success.

How does the company plan to achieve its goals?

Mensa Technologies is a subsidiary of the Mensa Group. Our immediate objective is to secure a listing on a UAE or global stock exchange within the next 24 months. Looking ahead, we envision ourselves as a multinational provider of financial services technology, offering a comprehensive suite of solutions that encompass both technology and operational services. This would enable our clients to concentrate on their preliminary business while we take into consideration of the technology and operations aspects.

Is worker energy significant to your company’s success?

At Mensa Technologies, we strongly believe that the energy and motivation of our team members play a vital role in the success of our organization. We understand that the employees are the backbone of our company, and their dedication and passion are what drive us forward. To ensure that our team stays motivated, we place a great emphasis on maintaining a positive work culture and fostering an environment that encourages creativity and innovation. We understand the importance of keeping our employees happy and engaged, and we make every effort to provide them with the necessary tools and resources to help them grow and succeed.

What strategies do you have in mind to inspire your team?

Mensa thrives on tackling challenges, which motivates our team to push beyond the limits. As a leader with a hands-on approach, I actively engage in design discussions with the team to find innovative solutions that meet the highest standards of quality and uniqueness for our customers.

Message to your customers and viewers

In the highly competitive FinTech industry, it’s important to distinguish between mere buzzwords and real-world business applications that generate revenue. At Mensa Technologies, we prioritize practical use cases that address the needs of end-users through their respective organizations. By focusing on profitability, we ensure that we can sustain excellent customer service over the long term.

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