Monoova are Finnies Award Finalists 2025

This award recognises a fintech organisation that has demonstrated a commitment to innovation and has delivered transformative new financial services offerings through the innovative use of technology to its customers.

It’s a category we were proud to take home in 2022 and we’re incredibly thrilled to be shortlisted again in 2025.

Key Metrics

Over $150B processed in transactions since 2022

Created over 22% of all PayIDs in Australia as of February 2025

Responsible for 56% of active PayTo mandates in Australia as of February 2025

8% increase in our Net Promoter Score (NPS) year on year

Monoova supports the scaling of fast-moving business by automating how they receive, manage and pay funds. We offer the largest array of payment rails via API by any non-bank Payment Service Provider (PSP) in Australia: NPP, PayTo, PayID, Direct Entry, BPAY, cards and cross-border transfers. Leveraging our API-driven innovation, real-time payments and ledger, advanced reconciliation, business are able to scale and streamline their payment operations.

For a large number of emerging Australian fintechs, Monoova’s support is often critical for their ability to launch. In addition, we enable the expansion into Australia of leading international fintechs, offering seamless access to domestic payment infrastructure.

Monoova also actively participates in the Australian fintech ecosystem by collaborating with government, industry groups, regulators, schemes, and banks to drive innovative use cases from travel and insurance platforms to investment and remitter apps. Our strong risk-and-compliance framework makes us a trusted partner, enabling us to meet rigorous standards in even higher-risk sectors.

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Best Innovation in Payments

This award recognises the fintech payments provider that has delivered the most innovative, efficient and secure payment service solution as experienced by their clients transacting across a wide range of use cases and/or geographic locations.

Key Innovations

• Real-Time Payments – using NPP and PayTo, Monoova facilitates instant 24/7 payments. PayTo modernises recurring payments with real-time authorisation, improving on outdated direct debit models.
• Automatcher for Reconciliation – virtual accounts with unique BSBs and PayIDs automate reconciliation in seconds. Customisable rules allow businesses to reject unwanted payments, ensuring accuracy and eliminating mistaken deposits.
• Real-Time Ledger – provides real-time balance tracking and statements at scale, making complex payment workflows more transparent and reducing operational costs for businesses.
• Instant Refunds & Payouts – customers no longer wait days for refunds or withdrawals, boosting satisfaction and trust.

Monoova is a leading Payment Service Provider (PSP) transforming payments in Australia with its API-driven platform. By integrating NPP, PayTo, PayID, Direct Debit, BPAY, and cross-border transfers into a single solution, Monoova enables businesses to streamline transactions, enhance security, and transition seamlessly from legacy systems to real-time payments.

Monoova’s payment innovations are transforming industries by enabling faster, safer, and more seamless financial transactions. Through delivering greater transparency and more customer-friendly experiences, we’re helping to strengthen the future of Australia’s financial ecosystem.

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Excellence in Industry Collaboration & Partnerships

This award recognises an exemplary collaboration or partnership between at least one fintech and one or more other organisations delivering innovation that assists retail investors, companies/institutions or consumers through an innovative fintech platform or functionality or through knowledge-sharing. The partnership could be between two Australian companies or an Australian fintech and international partner, but must show opportunity to scale.

This award aims to celebrate companies that are willing to work together to drive the cultural and economic success of the fintech ecosystem.

Monoova and carsales: An Industry Leading Collaboration

Monoova’s collaboration with carsales, Australia’s leading ASX-listed (CAR) automotive marketplace, has delivered groundbreaking innovation in the fintech and automotive marketplace industries. ‘Pay through carsales’ was created as a way to address the long-standing issue in private vehicle sales of aligning payment timing with vehicle handover.

Monoova’s deep technical and regulatory expertise was critical to developing a seamless and secure payment experience.

Key capabilities provided include:

• Onboarding: The validation of NPP-enabled accounts with a penny test
• Ledger Account: Monoova built a dedicated ledger feature for the platform, enabling buyers to track balances and transactions
• Unique Account Numbers: Buyers receive a unique BSB and account number for secure fund transfers
• Real-Time Disbursement: The instant transfer of funds upon vehicle handover, ensuring smooth settlements
• Customer Support: Proactive and responsive assistance to resolve high-value transaction issues

Monoova’s payment technology enables funds to be securely held in a virtual account until both parties confirm the transaction is ready to proceed. By integrating Monoova’s payment infrastructure, carsales has delivered a game-changing solution that transforms how Australians buy and sell private vehicles – making transactions faster, safer, and simpler than ever before.

Since launching Pay through carsales, over $30 million in payments  has been processed in just four months, proving strong demand and rapid adoption. This collaboration demonstrates how fintech can drive innovation and disruption in traditional industries, for the benefit of the end consumer.

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Best Workplace Diversity

This award recognises the workplace in a fintech company that has created an inclusive environment that accepts each individual’s differences, embraces their strengths and provides opportunities for all staff to achieve their full potential.

Monoovian Metrics

21 languages spoken across the team

60% of staff were born outside Australia

Caregivers: 41% of staff are caregivers

At Monoova, diversity and inclusion aren’t just policies – they’re fundamental to how we lead, grow, and work together. Our leadership actively integrates diversity into recruitment, workplace culture, and daily operations to foster a truly inclusive environment that drives collaboration, enhances employee satisfaction, and directly contributes to Monoova’s continued success. This approach not only fuels innovation and strengthens our team but also delivers better outcomes for our clients.

Some of the key initiatives we’ve established include:

• ‍Workplace flexibility and support from hybrid working arrangements, diversity leave, a work from anywhere policy, family friendly office setup and access to the RespectX reporting tool ‍
• Ensuring fair and equitable hiring and support for neurodivergent candidates and staff‍
• Our partnership with ACON, reinforcing our commitment to LGBTQ+ inclusion and workplace equality‍
• Celebrating cultural moments together, including Harmony Day, Diwali, Lunar New Year and more‍
• Giving back through programs like Basket Brigade to support families in need during Christmas, STEPtember and R U OK Day

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