In our last newsletter, we shared a recap of what we have built at Mono for the first half of 2023.
For August, we celebrated Mono's 3rd anniversary, launched new connections for Mono Pay with Bank, made updates to Mono Lookup, and more. Keep reading for the highlights.
Company & Product Updates
Mono turned 3
We turned three a few weeks ago, and to celebrate this milestone, we got some of our early team members and our CEO to share the Mono journey so far and the ways we have enabled African businesses to innovate for their customers. Watch the video.
Kuda PayID is live on Mono DirectPay!
We’ve added Kuda PayID on the Mono DirectPay widget for Pay with Bank. This new payment authentication method allows users with Kuda bank accounts to instantly make payments to businesses using their phone number and Kuda PayID. Here's how this works.
FCMB Pay with Account is live!
FCMB Pay with Account is now available on the Mono DirectPay widget. This lets your users with FCMB accounts securely make direct payments to your business using just their account number and a one-time password (OTP). Try a demo here.
Mono Lookup endpoints
We have added four new endpoints for the Mono Lookup product. These endpoints help you validate a user’s International passport, house address, National Identification Number (NIN), or the Tax Identification Number (TIN) of an entity.
To enable any of these endpoints for your business, please email us at email@example.com.
Billing currency switch
To enable our partners in Ghana, Kenya, and South Africa to conveniently pay for our services, we have added a way for you to switch the billing currency on the dashboard to your preferred local currency.
To do this, navigate to the Billing settings on the dashboard and under the Billing currency section, select which currency you would like to get charged on. After this, all your billing information will also be reflected in your currency of choice. Log in to try this out.
View customer account and transaction data in one place
Under the Accounts tab on the dashboard, we have included a way to easily view the transaction history of a connected account without switching between tabs.
To check this out, navigate to the Accounts module, click on a connected customer account, and select the Transactions tab. Log in to check this out.
Scaling credit decisioning for BNPL businesses with Open Banking
In our latest article, we shared how Buy Now Pay Later businesses can use Mono’s Open Banking-powered infrastructure to access customers’ financial data points and solve the challenges they have with making informed credit decisions at the customer’s point of purchase. Read it here.
How Raven Bank uses Mono to power modern financial experiences
Raven Bank is a digital bank building innovative financial services that enable its customers to access instant credit and easily manage their finances.
Ibitoye Michael, the Chief Liaison Officer at Raven, recently spoke to us about how Mono powers its team to make secure credit decisions and offer personal finance management services. Watch the video here.
Afriex expands its service to Ethiopia
Afriex recently announced that its cross-border money transfer service is now available in Ethiopia. This lets their users easily send money to anyone in Ethiopia using the Afriex app. Learn more here.
Carbon introduces credit report feature
Carbon has built a new feature that allows its customers to view their credit reports directly on the app and get more visibility into their credit history. Read more here.