Monoova Finnies 24 Finalists

April 25, 2024

For the second year running, Monoova have been named as Finnies 24 finalists 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

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.

The winners of Finnies 24 will be announced 6 June 2024. View the full list of finalists here.


Monoova Payments Pty Ltd (ABN 38 126 015 227) trading as Monoova (“Monoova”) is the authorised representative of Monoova Global Payments Pty Ltd (ABN 77 106 249 852; AFSL No. 421414 ), the issuer of the Combined Financial Services Guide & Product Disclosure Statement Non-Cash Payment Products and Services dated 20 September 2023. (FSG/PDS). This information is given in summary form and does not purport to be complete. To the maximum extent permitted by law, Monoova does not assume responsibility for, the content, accuracy or completeness of the information presented. Before acting on any information you should consider the appropriateness of the information having regard to these matters and seek independent legal, financial and tax advice. To the extent that the information contained above is sourced from third parties or provides link to third party websites, Monoova takes no responsibility for the accuracy, currency, reliability and correctness of any information included in the material provided by third parties nor for the accuracy, currency, reliability and correctness of links or references to information sources (including internet sites) operated by third parties.

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