Moneta introduces interest-free Study Now, Pay Later facility for Lankan youth

From left: Achievers Lanka Business School Manager Academic and Operations Amhar Auffer, Achievers Lanka Business School Head of Business Anushan Sathananthasarma, Achievers Lanka Business School Chairman Azad Hye, Moneta Founder and CEO Kanaganayagham Shayanthan, Moneta Business Development Manager Randu Perera, Achievers Lanka Business School Manager Marketing and Sales Amjad Mowlana and Achievers Lanka Business School Group Accountant Ajurdeen Azarudeen

Secure lifestyle-based financial assistance platform Moneta recently debuted an ingenious product to remove the financial barriers to study, whereby students can pursue a professional/educational qualification and pay in four instalments, always interest-free. 

A first in Sri Lanka, this Study Now, Pay Later endeavour is a partnership with the country’s undisputed leader in higher education, Achievers Lanka Business School. 

It is Moneta’s belief that quality education is a must for a successful life and career. The new scheme is an extension of this thinking, to make higher education accessible to the middle class, despite the economic downturn triggered by the pandemic. This endeavour sets out to ease the burden of providing/obtaining a good education off the shoulders of parents and prospective students. 

Commenting on the product, Moneta Founder and CEO Kanaganayagham Shayanthan said, “We are excited to be supporting the future generation of Sri Lanka to bring their academic/professional aspirations to fruition through education. This is a brilliant opportunity for anyone looking to further their education but don’t have the means to make a substantial investment upfront. We hope our Study Now Pay Later service, which is always interest-free, will be especially beneficial and timely under the prevailing economic climate.”

Meanwhile Achievers Lanka Business School Chairman Azad Hye noted, “Under this scheme, prospective learners can follow globally-recognised qualification such as CIM, CIMA, ACCA, etc. that will be invaluable in today’s competitive context. We are proud to be partnering with Moneta 

for this endeavour as our visions align; we strive to disrupt our respective sectors through creative, innovative solutions.”Sans tedious paperwork or long queues, Moneta’s machine learning and artificial intelligence-driven platform has simplified and streamlined the always interest-free Study Now, Pay Later facility’s processing time to an impressive 10 minutes. This futuristic approach trumps all other alternatives in terms of efficiency, speed and convenience. 

“This pandemic created a lot of new opportunities for millennials. With the right education and support, they can build a flourishing future. We are very proud about this partnership with Achievers, one of Sri Lanka’s top business schools, to create global professionals ready to take on the world,” Shayanthan added.