In our last newsletter, we shared that we added the Chipper Cash connection on the Mono widget, improved invoice billing experience on the dashboard, deprecated the Auto data sync feature, and made updates to connected account limit.
For June, we have the 360view endpoint v2, dashboard updates, a deep dive into how Mono powers digital lenders, and more. Keep reading for the highlights.
Company and Product Updates
360view endpoint v2 is live!
We recently launched an improved version of the Mono 360view endpoint. This enables you to view and retrieve all the bank accounts registered with a user’s BVN (bank verification number) or phone number, along with the bank meta information like the logos. This endpoint is currently available to only Nigerian businesses and costs NGN 100 per API call. Try out the 360view endpoint.
The Mono Transaction Metadata v2 is live!
We released the v2 of the Mono Transaction Metadata feature. This upgrade includes a wider range of transaction categories such as cheque deposits, investment deposits, investment payouts, etc, and returns better accuracy and precision than before when classifying customers’ transactions.
With this feature, businesses and developers can get richer and more detailed insight into users’ finances and build powerful financial solutions. Here's how this works.
New connection on the widget
We have added Opay as a connection on the Mono Connect widget. Now, your users in Nigeria can securely link their Opay account to your business, so you can access their financial data with their permission.
With this connection, you can securely retrieve their account, identity, transaction, statements, and income data, and build personalized financial experiences for users. Try a demo here.
Updates to Manual data sync
For a better experience when manually syncing connected accounts on the dashboard, we now send notifications (colour-coded badges) during the sync process.
When you initiate a sync, an amber badge will appear on the top of your screen until account syncing is complete. A green badge is shown when a sync is completed successfully, and in cases where an account can’t be synced because it has MFA enabled and requires re-authentication, you will get a red badge.
Billing Audit Logs
You can now view billing events from the Audit Logs module on your dashboard. This allows you to monitor and track which specific person on your team has performed a billing action on your Mono account.
Some of the events you can view on the Audit Logs section include who initiated a subscription, subscribed to a plan, or deleted a payment card.
To view the billing events on your dashboard, expand the More tab on the sidebar menu and click on Audit Logs. Log in to try this out.
Search feature on the dashboard sidebar
We have enabled a search feature on the sidebar menu of the dashboard so you can easily find and view the products you use, without sorting through them individually.
This feature is helpful for partners who are enabled for multiple products on the dashboard and ensures that they can navigate them more quickly.
To use this, log into your dashboard, click on the search bar at the top of the sidebar, enter the specific product you are looking for, and click on the right search result that pops up.
DirectPay billing overview
To improve the experience for multiple product usage on the Mono dashboard, we've implemented a dedicated billing view for DirectPay. This lets partners who use both Mono Connect and Mono DirectPay toggle between both products on the Plans and Billings module, and easily manage subscriptions and billing information.
To see how this works, navigate to the Plans & Billings section and click the button at the top right to switch between the products you currently use.
Managing Add-ons subscription
We have made an update that allows you to easily subscribe to and manage add-ons that are not available on your Mono Connect subscription plan.
To do this, navigate to the More tab on the sidebar menu, click on Products, scroll down to the Add-ons section, and then click the Add to plan button next to your preferred add-on. Log in to try this out.
Powering seamless lending in Africa with Open Banking
Mono has been powering hundreds of lending businesses in Africa today in making credit accessible to individuals and small businesses.
In our first long-form article, we explored the challenges that digital lenders in Africa often face with making secure, data-informed loan decisions, and how Mono’s infrastructure can help lenders scale their lending process. Read it here.
How Zilla uses Mono to power its credit financing algorithm
Zilla is a Buy Now Pay Later (BNPL) company that offers credit financing options to businesses, which allows their customers to make purchases and pay later in flexible instalments.
In this partner story video, Tolu Abiodun, Zilla’s CEO, shared how their team uses Mono to power their credit-decisioning algorithm and build seamless payment experiences for users. Watch the video here.