Almost exactly two years ago, Mono went live in Nigeria. The founders, Abdul Hassan and Prakhar Singh had finally put services built from months of work and planning on the market to make innovation and automation possible and reliable through Open Banking in Africa.
They have announced that Mono is live in Kenya. Kenya is one of the most populous East African countries and is an advanced mobile money technology and services hub, creating a population of customers who have a growing appetite for innovative money solutions.
Working with growing Kenyan businesses that provide customers with various financial solutions — from rent financing to micro loans — in the last few months prior to this launch, has been insightful and instrumental to our understanding of the important role that secure access to financial data plays in the Kenyan market.
There is less friction with our customer journey and customers are able to sign up and receive credit decisions instantly resulting in better customer satisfaction. We’ve also seen improved Turnaround Times (TATs) with customers, and we’re able to make more informed credit decisions as we do not rely on customers’ self-reported income and expenses.
Bryan Maranga, Product Manager at LipaLater Group, Kenya
