In 2016, the average monthly income in Mongolia was around $300. Because the income was low, it was common for Mongolian people to borrow money on a regular basis to support themselves. Since the banks used to take a lot of time to review documents and process loans, most of the time people turned to their friends and families. As it was common to borrow money, it was also common not to return the borrowed money to friends and families. 

Our founders, long-time best friends (Mongolian word for best friends is “And”) due to their running in mathematical international competitions, faced the same issue – a never-ending conversation about borrowing money from friends and relatives on short notice and not returning the money. They were tired of this issue and realized that the issue had been around for a long time without a long-term solution. As a result, our founders decided to establish an “AND GLOBAL” fintech organization and developed the first mobile-based micro-lending platform in Mongolia in 2016. 

Since our AND Group has flourished in business and technology industries in the local market with more than 10 subsidiaries and gathered professionals who have worked overseas with rich experience, AND Solutions was created in Singapore as one of the subsidiaries in 2021 to compete in international markets to show our unique Mongolian perspective and fully utilize our experts who have won 100+ international mathematics competitions into our solutions.