In our last newsletter, we shared how we ensure Data privacy at Mono, highlights from the Mono Ghana Network Mixer, and a video explainer on building personal finance management services with Open Banking.
Our updates from February include the Africa Tech Summit, the Mono BVN Lookup 2.0, facilitating account-to-account payments with Open Banking, and more. Keep reading for the highlights.
Company & Product Updates
Mono BVN Lookup 2.0
We have updated the Mono BVN Lookup service with the new NIBSS iGREE consent requirement for accessing customer BVN data. This ensures that you can continue to use Mono to retrieve BVN data with users’ consent, maintain data privacy, and securely onboard users, in compliance with the new BVN holder consent process. Here's how to use this service.
Supported Financial Institutions API
We’ve made some updates to the Institution endpoint, so you can now view all our supported financial institutions via a single endpoint. This API also returns our available products as part of the institution object, filters by country and product scopes (financial data or payments), and checks if a connection requires reauthorization for Data Sync. Try out the supported institutions API.
Africa Tech Summit 2023
Our team was present for this year’s Africa Tech Summit in Nairobi, Kenya. It was such a nice time at the event and we got to meet businesses and innovators building amazing financial solutions for users in Africa. We also took the opportunity to share more about the exciting products we are building for businesses in Kenya and East Africa. You can join our developer community to stay in touch with us.
Open Banking and Payments
In the final video of the Mono Open Banking series, we explain how Open Banking works to power innovative payment methods, and how Mono DirectPay enables consumers and merchants to make faster and more secure payments without using cards. You can watch it here.
Naira Bank Accounts on the Grey App
Grey Finance has introduced naira bank accounts for their users on the Grey App. This allows users to make deposits, receive funds, and top-up their virtual cards with a Naira bank account, using Grey.