Mintoak Expands FinTech Solutions
Mintoak Acquires ICC Loyalty to Boost Global Reach and Bank Revenue Beyond Payments
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Mintoak, a payments and engagement platform for banks, has acquired Dubai-headquartered fintech ICC Loyalty, the company announced PR Newswire. The deal expands Mintoak's reach across the Middle East, Africa, Eastern Europe and Asia — and pushes it well beyond merchant payments into loyalty and customer rewards.
Together, the two companies serve over 30 banks and 11 million customers across more than 10 countries ADVFN. The combined business generates over $30 million in annual revenue, with a profit margin exceeding 30%.
ICC Loyalty Brings 30 Banks and 11 Million Customers
ICC Loyalty is a Dubai-based company that builds loyalty and rewards technology for banks. It counts Emirates Islamic, Dubai Islamic Bank and RAKBANK among its clients PR Newswire. Those are three of the most prominent retail banks in the UAE. ICC Loyalty currently serves customers across 10 or more countries, spanning the Middle East and beyond.
The company has spent years helping banks run points programs, cashback offers and customer rewards. That kind of engagement tool is increasingly important as banks compete to hold onto customers ADVFN. By joining Mintoak, ICC Loyalty gains a larger platform and a global distribution network.
Mintoak Moves From Payments Into Full Bank Engagement OS
Mintoak built its name as a payments operating system for acquirers — the banks and processors that handle card transactions for merchants. The ICC Loyalty deal marks a clear shift in strategy PR Newswire. Mintoak now wants to be the single platform banks use for both merchant payments and customer engagement.
The goal is to help banks find new revenue beyond payments. Loyalty programs and rewards are a proven way to increase spending and keep customers active. By combining both sides — payments and engagement — Mintoak is positioning itself as a one-stop OS for bank revenue growth ADVFN.
Combined Revenue Tops $30 Million With Strong Profit Margins
The merged company posts more than $30 million in annual revenue PR Newswire. Its profit margin exceeds 30%, which is a strong number for a fintech at this stage. That financial base gives Mintoak room to invest in new markets and new product features without burning cash.
The deal also broadens Mintoak's geographic footprint significantly. Before the acquisition, Mintoak was primarily focused on Asia. Now it holds active client relationships across the Middle East, Africa and Eastern Europe as well ADVFN. That kind of multi-region presence is rare for a payments platform of this size.
A Unified Platform Aimed at Banks Seeking New Revenue
The two companies are branding the combined offer as a "unified Payments and Engagement OS for banks" PR Newswire. The idea is simple: banks already process payments through Mintoak. Now they can also run loyalty programs, reward customers and drive spending — all from one platform.
This kind of bundled platform is becoming more common in fintech. Banks want fewer vendors and more integrated tools. Mintoak's acquisition of ICC Loyalty puts it in a strong position to win those deals ADVFN, especially in fast-growing markets across the Middle East and Africa where digital banking is expanding quickly.
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