When you are trying to access financial services from a business, for example, apply for a loan from a lending business that uses Mono, usually, the business will prompt you to share your account statement using Mono as part of the application process.
When this happens, you need to enter your mobile or internet banking login details on the Mono widget to connect your financial account and automatically send your statement to the business.
Why should I share my statement using Mono?
It is the easiest way to send your financial statement to a business and access the service you need without manually retrieving your statement from the bank.
It is completely safe and secure to share your statement with a business, using Mono. We encrypt your login details so the business or app you connected your account to can't see your credentials. You can read our end-user policy and security protocols to learn more about how we keep your details safe.
Mono won't share your bank statement without your consent, you have control over who can access your statements.
With Mono Portal, you can also disconnect your account from a business and stop sharing your data anytime if you no longer require the services of the business.
What happens after I share my statement?
The business will have details of your financial transactions on the connected account for a set period, i.e., 6 months or 12 months.
The business can now make informed decisions based on your financial data or offer personalised financial services that is well suited to your needs.