.png)
Monoova have been named as the Finnies 24 winner for Excellence in Payments. Often referred to as the Oscars of Fintech, organised by FinTech Australia, the Finnies are Australia’s most prestigious fintech awards, celebrating the many achievements across the industry. We're incredibly proud of this achievement and it's a testament to the work our team have put in over the last year.
Excellence in Payments Winner
The Excellence in Payments award acknowledges fintech payments providers with the most innovative, efficient, and secure service as experienced by their clients transacting across a wide range of use cases and/or geographic locations. Entrants can be either B2B and B2C services.
As a leading Payment Service Provider (PSP) specialising in real-time and automated payments, we have a history of firsts including:
- One of the first live New Payments Platform (NPP) Identified Institutions
- The first and only provider to deliver PayTo with significant and dominant volume
- Launching the first automated reconciliation platform utilising PayIDs
Via API integration Monoova provides businesses comprehensive payment solutions that takes the friction out of traditional payment processing and management. Monoova’s solution is customisable and enables businesses to send, receive and manage funds transfers more efficiently, reduce costs and improve their customers' payment experience.
- Decrease reconciliation time by 99%, from 2 hours to just 10 seconds.
- Cut manual disbursement time by 98%, from 3 minutes to a tiny 3 seconds
With so much time back and our clients can put their teams time to more valuable use than mundane reconciliation and focus on retention and growth.
The Monoova Difference
The product
Monoova is responsible for 64% of all PayTo agreements in Australia
What makes Monoova different to our competitors is the suite of payment rails we enable access to. Businesses can access the traditional payment rails of BPAY, direct debits and online card payments alongside the new real-time payments with PayID, Osko and PayTo all from one provider. Layer in virtual accounts and automated reconciliation along with FX services and you have a solution that’s more or less unmatched. Fast, first adopters. Monoova focuses on bringing the best solutions to market, backed with NPP innovations. PayTo is a solid example, of taking clients and prospects through education and implementation to success. As a result, Monoova is responsible for 64% of all PayTo agreements.
Security and compliance
In a world where fraud are frequent scams are smarter, Monoova puts security at the forefront.
From the get-go our payment solution had built in 2FA and we strive to improve constantly. We achieved SOC 2 Type 1 compliance. SOC 2 (Systems and Organization Controls 2) is a security framework that specifies how organisations should protect customer data from unauthorised access, security incidents, and other vulnerabilities. Investing in the SOC 2 security framework has been an important step in continuing our commitment to provide our clients with the best security standards available platform for processing payments for example, choosing partners such as Fastly to enhance transaction security.
Banking and regulator relationships
Monoova enjoys longstanding relationships with banks and regulators without which a payments company cannot operate. At Blockchain Week 2022, Monoova was specifically singled out for at points having been the only payments provider that could service the digital currency industry in Australia.
Secret sauce
Whilst we stand by our excellent product suite, best-of-breed API and leading security partners, the real difference is the people. We hear time and again, how invaluable our support has been. This is in part due to how we structure the service of the accounts, allocating a specialist to each account but mostly because putting the customer first, ensuring their success, is central to our ethic.
View the full list of finalists from Fintech Australia.
.png)
