Mono powers a range of different use cases, from credit scoring (lending) to account reconciliation. The use cases for Mono Connect are diverse, but some of our partners have one thing in common: they require a real-time view of their user’s financial data to live up to their full potential.
Current state
Until now, businesses have to re-authenticate the user to fetch new subsequent transactions and balance and we think this is a bad experience for their end user, in the spirit of making simple things simple while keeping complex things possible, we built a better way for them to get customers real-time data.
Introducing Data Sync
Data sync allows you to fetch recent data (balance and transactions) from financial accounts linked to your web or mobile app without re-authorisation.
The data sync endpoint abstracts implementation complexity by simplifying the retrieval of transaction histories and balances for a financial account.
Important Privacy Policy Note
You need to get consent from your customers to let them know that there will be continuous data retrieval from their account.
There are two ways you can use the data sync feature, depending on your product use case or flow.
1) Continuous updates
Automatically receive webhook event every 60 mins notifying you of new transactions and updated bank balances.
How does it work?
You simply setup your webhook and we’ll notify you every 60 minutes when there are new transactions found on all the accounts linked to your business.
2) On-demand data refresh
Manually trigger sync for new data retrieval. This is recommended if you don't want to wait every 60 mins for webhook event.
How does it work?
Using the /sync API, you can build an in-app data refresh experience for your user.
How to get started
Mono Data sync is only available for select qualified customers. Please contact us via our slack channel (for existing businesses and developers) to see if this feature can be made available to you.
Once the feature is enabled for your account, you simply only need to setup webhook for your app from our dashboard and go through the docs.
We can’t wait to see what you can build with this API! ✨
Interested in using our API? Request access to get started with a N2000 free API call credit or reach out to us at hi@mono.co
If you’d like to give us feedback or request features to better fit your use case, please contact us. Make sure to follow us on Twitter to stay in the loop of our latest announcements.
