As trading has become more accessible with lower barriers to entry, a growing number of people are signing up to trading platforms. Making trades online, accessing international markets, and not needing to make large initial investments with high management fees has been revolutionary for the industry, and it’s underpinned by technological developments.
What was once revolutionary becomes industry standard
As the technology that enabled online investing for the average person developed, the investment platform space became highly competitive. Now, it’s not just access to markets that investors are looking for. Whether they’re sophisticated investors with long term strategies or hobbyists just getting started, investors are evaluating platforms based on how quickly they can get up and running.
In the technology and product sector, this is often called ‘speed to value’, i.e. how quickly a customer receives value from your product. For investment platforms, this speed to value is how quickly a customer can get signed up, fund their investment account, make a trade, and potentially see a return on that investment.
Account funding then becomes a cornerstone of customer happiness for investment platforms. If your account funding process leaves customers waiting, it’s not just trades you’re slowing down; it’s the growth of your own platform too.
A strong payments and account funding experience can then become an investment platform’s unique differentiator and growth lever. Here’s how:
Outpace the competition with speed and efficiency
By enabling instant funding, real-time payouts, and automated reconciliation, you’ll provide investors with speed and accuracy that exceeds expectations. These features aren’t just conveniences; they’re critical to keeping investors engaged and confident in your platform.
Smooth, fast, and secure transactions (whether for funding accounts or receiving payouts) create a full-circle experience that builds trust, reduces frustration, and keeps investors coming back. With Monoova, you’re not just keeping up — you’re leading the way.
Instant funding: A game-changer for investors
Instant account funding is quickly becoming the expectation for investment platforms. If you’re not offering it, you may find yourself falling behind. Investors want their funds to be in their account, ready for trading opportunities.
Traditional payment systems like bank account transfers have been the industry standard until recently. They can take up to three business days to clear and settle and have an increased chance of human error when inputting BSB and account numbers. This is frustrating, and without the right funds at the right time, investors could miss out on opportunities, leading to an unsatisfying experience.
In Australia, the New Payments Platform (NPP) has been introduced to facilitate near-instant transactions. Monoova offers integration into the NPP and adds significant capabilities to the base technology for account funding and technology platform transactions.
PayTo integration
PayTo is similar to Direct Debit, where funds come directly from a customer’s bank account. Unlike Direct Debit, PayTo is real-time and 24/7/365, so customers can top up their accounts instantly. See more about PayTo here.
PayID generation and virtual accounts
PayID is a new way to move funds real time using an email address or phone number. This is a faster, simpler alternative to using a BSB and account number. When a PayID is assigned to a Monoova virtual account, this can be cross referenced with a customer ID, creating a strong traceability of who made what payment. PayTo agreements can be set up using a PayID, circumventing frustrating account number typos and slow transaction times.
Automated reconciliation
With all of these accounts and agreements linked to customer IDs, your reconciliation process becomes a lot simpler. With Monoova’s automated reconciliation, it’s also, well, automated! Ensure accuracy, reduce processing time, and increase your team’s capacity more important tasks.
Cards and digital wallets
While NPP is growing in popularity, the differing needs of your customers can be met with various payment options. If they’ve set up Apple Pay, Google Pay, or have a preference to use a card, Monoova’s online checkout has these options built in, with all the regulatory requirements met for card transactions, meaning your team doesn’t have to build it, and it benefits from automated reconciliation too.
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Pay outs
It’s not all about account funding. An investor withdrawing funds from their investment account back into their bank account is the completion of their payment experience. A positive start needs a satisfying ending in order for the whole experience to be remembered fondly.
Monoova facilitates the funds being transacted into and out of your platform. With PayTo, there’s already a bank account linked, ready for funds to be directed to it, and a PayID or classic BSB and account can be used to direct funds in the absence of a PayTo agreement. Depending on the method selected, payouts can also be in real-time (or near real-time).
Secure, trusted transactions
Setting up payments for an investments platform can be tricky. It’s a highly regulated space, and new customers need a high level of trust before signing up.
While investors are taking risks by investing their money in stocks, that’s a risk they’re knowingly signing up for. The platform they choose to take those risks with, however, needs to be secure.
Monoova adheres to all regulatory requirements for payments, including:
- 3D Secure for cards, and PCI compliant
- Secure online checkout
- Transaction monitoring engine
- SOC 2 Type 1 and Type 2
- Anti-Money Laundering (AML) and fraud checks
- Account whitelisting, and our RISK API
Our ledger product digitally segregates end-user funds, keeping their accounts (and funds) secure, reconciled, and up-to-date.
Elevate your payment experience and Make Money Move
With a flexible and scalable infrastructure, Monoova enables you to deliver the fast, smooth, and reliable payment experience investors expect. From simplifying deposits with PayTo and PayID to ensuring instant access to funds, Monoova helps you stand out in a competitive market while building trust and loyalty with your customers.
Ready to elevate your payment experience? Download this one-pager to find out more about investment platforms or book a chat with one of our experts.
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