The wealth management sector is evolving rapidly, driven by shifting investor expectations and increasingly powerful technology. Wealth management clients, whether they’re everyday Australians building their nest egg, SMSF holders or high-net-worth individuals diversifying their portfolios, increasingly expect fast, flexible access to their money.
Traditionally, investments have been managed through slower, manual systems with limited real-time visibility. In today’s world, investors want to move funds, view performance and act on new opportunities in minutes, not days.
This growing pressure point is being addressed with the introduction of fast payments, which empowers investors to respond to investment opportunities as they arise. In a market where timing can significantly impact returns, offering this capability gives wealth management platforms the ability to disrupt the status quo and build their reputation as a future-focused, cutting-edge provider.
An example of fast payment technology is NPP, the New Payments Platform that facilitates near-instant transactions and supports a 24/7 digital economy. From onboarding and funding accounts to disbursing dividends or facilitating asset transfers, this next-level payment capability is unlocking speed, transparency and flexibility in what has traditionally been a rigid system.
Take a look at some of the friction points experienced by fund managers and investors, and how emerging technologies are providing the solution.
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Digital fund management challenges for the wealth industry
Investors are increasingly making on-the-spot decisions and time-dependent transactions when it comes to their investments and wealth management. The faster your wealth management platform can transfer and reconcile client deposits and withdrawals, the faster your clients can update their investments, access funds and see the outcomes of their activities, and the more trust you build as their provider.
A future-focused wealth management platform will improve its reputation with investors by offering:
- Instant deposits and account reconciliation (not multi-day waits for funds to clear)
- Real-time updates and easy-to-use dashboards, delivering a service that feels high tech but low touch
- A digital platform that is as easy to use as their everyday banking app
- The option to pay and be paid their way, whether it is via BPAY, card payment, direct deposit or NPP.
Meanwhile, wealth managers need a similar level of efficiency when they log into their online systems.
They expect:
- A back end that is automatically and immediately reconciled
- Accurate, up-to-date records with customisable functionality
- Easy fixes or an end to the problem of ‘orphan’ deposits or incorrect reference numbers
- The ability to view client balances and withdrawals in real time
As wealth management platforms make the transition to be digital-first, they face the dilemma of investing significant funds in a custom-built platform or ‘stitching’ a number of different solutions together and dealing with the resulting gaps.
Monoova provides a simplified solution, offering real-time transactions and settlements, and ensuring funds can be moved securely and without delay. For platforms managing inflows and outflows of funds daily, this speed and flexibility translate into smoother operations and better feedback from investors.
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Monoova’s smart payment solutions for wealth management funds
Leveraging the New Payments Platform and a simple but powerful API, Monoova makes moving funds and reconciling transactions easier, while providing a safe, easy-to-use and compliant digital environment.
The platform provides the following features:
1. Instant account funding and payouts
Wealth clients span diverse age groups and demographics. Some prefer modern digital wallets and real-time payment technology like PayID and PayTo; others feel more comfortable making BPAY or card payments. Monoova supports all transactions, facilitating real-time transactions and settlements for recurring and one-off payments.
When it’s time to withdraw their funds, clients enjoy the same convenience in reverse. Money is transferred back to their chosen account quickly and efficiently, closing the payment loop with zero friction.
Monoova makes transactions seamless by allowing the following payment options:
- PayID
- PayTo
- Direct Debit/OSKO
- Direct entry
- BPAY
- Online card payments
- Google Pay and Apple Pay
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2. Automated reconciliation
Payment errors, untrackable deposits and miskeyed reference numbers drain time for wealth managers, but Monoova’s automated reconciliation solves this at scale.
With Monoova, every payment is matched to a customer ID using virtual accounts, PayID or PayTo agreements. Customisable rules take care of any mismatches based on your internal logic. This leads to lower risk and significant time savings—potentially hours each month.
3. Ledger transparency and control
Monoova’s ledger product improves account visibility, giving fund managers access to digitally segregated customer funds and transaction reports that are updated in real time.
Ledger enables:
- Near instant account balance updates
- Detailed, consolidated transaction histories
- Accurate customer statements and audit trails
Account funding, payouts and end-of-month reporting become so much easier to deal with because all information is contained in one secure, compliant environment, with clear separation between client accounts.
4. Security and scale
Security and compliance are baseline expectations in the wealth sector, and Monoova is built to meet them. Our solutions are designed with the controls, oversight and data protection features required to support regulated financial environments, including:
- SOC 2 Type 2, PCI-DSS and 3D Secure 2 compliance
- Transaction monitoring and anti-money laundering checks
- Account whitelisting
- Source account verification
- Confirmation of Payee technology
- Built-in tools to support Know Your Customer (KYC) processes
With Monoova, you can give your clients high-trust experiences without compromising on speed or innovation.
5. International payment capabilities
Managing cross-border payments is essential in wealth management. Monoova’s API simplifies the process, offering an end-to-end solution that enables wealth platforms to move funds globally with speed, transparency and control.
With competitive FX rates, automated reconciliation and real-time tracking, our technology reduces administrative burden and delivers a smoother client experience. Whether it’s processing international investments, disbursing dividends or onboarding clients with overseas accounts, Monoova makes international payments as seamless as domestic transfers.
Our platform is designed to integrate easily with your existing systems, providing secure, scalable infrastructure that supports global growth.
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One API. Countless improvements to speed and customer experience.
Monoova’s API offers one powerful solution for payment processing, reconciliation and account visibility.
Whether your wealth management fund is offering new investment products, rethinking post-retirement investment management or preparing for the next wave of fintech innovation, Monoova’s payment infrastructure gives you the flexibility and future-readiness to grow.
As Nick from carsales explains,
“What we were looking for was someone that could move quickly, who was on board with our vision but also had credibility in the market. Trust and safety is extremely important for carsales so we were looking for a partner that really valued those same things. in the end it was the capabilities of the Monoova team that really helped us make that decision and we were super impressed by their team. Monoova are leaders in fast payments and that's a really key capability in creating the customer experience that we're looking for.”
Nicholas van den Brink, Head of Product, New Ventures at CAR Group
Make your fund the easy choice
Wealth management clients are looking for qualified advice, helpful customer service and seamless digital interactions. By providing instant access to funds, clear reporting, flexible payment methods, you’re giving them convenience and peace of mind as they watch their investments grow.
Want to simplify and streamline payments and account management? Speak with a member of our team today.
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