Introducing The Mono Telco API

3/31/24, 8:02 AM Introducing the Mono Telco API - Mono Blog
Mono Blog
Introducing the Mono Telco API

30 Aug, 2022 Product
Olanrewaju Adeloye
Product
Share article Twitter LinkedIn
Secure access to user-permissioned financial data, as the core of open banking, allows
businesses to offer individuals innovative financial services, giving them more value
using these data and insights. Over two million bank consumers have securely shared
their financial transaction information successfully with businesses using Mono
Connect in the last two years.
Due to the nature of access to Open Banking, there still exists a barrier to entry for
users who are not traditionally banked. In Nigeria, for instance, Nigeria Inter-Bank
Settlement System (NIBSS) data shows that 37 million adults are without an active
bank account as of May 29, 2022 — representing 36.8 percent of the adult
population. This leaves innovators and their services out of reach for these segments
of customers.
Last month, we began experimenting with enabling more businesses to extend their
service offering to underbanked consumers by leveraging alternative data sources to
drive financial inclusion, help businesses make data-informed decisions, and build new
products by accessing customers' mobile network data across emerging economies.
Today, we are excited to announce the Mono Telco data API to businesses in Nigeria.
With your users’ consent, you can securely retrieve reliable telco data to build inclusive
https://mono.co/blog/introducing-mono-telco-api 1/6
products, offer more personalized experiences, and make more data-informed

decisions for your business and users.
Why Telco Data?

Telcos are some of the world’s largest granular data aggregators, with a direct
connection to millions of consumers. Today, Nigeria is one of Africa’s largest mobile
markets, accounting for over 204.2 million mobile subscribers and a mobile
penetration rate of > 87% of the population. With the number of mobile subscribers
across the networks expected to increase over the coming years, Telco data can open
businesses to a new source of data to make informed decisions on consumer behavior.
In turn, more underbanked customers can access more relevant financial services.
What data can businesses retrieve?
User Identity - Full name, phone number, Gender, NIN, date of birth, address.
Balances - Airtime, data, and SMS balances.
Account information - Full name, phone number, account type, balance,
currency.
Transaction history - Airtime and data usage history, Airtime and data top-up
history, Airtime and data borrowing history
How businesses are using the Mono Telco Data API
1. Consumer Insights - Businesses can rely on telco information to summarise

relevant user insights and predict potential user behavior based on transaction
history.
2. Alternative credit scoring - Successful lending relies heavily on creditworthiness
assessment. Achieving this with customers in the traditionally banked population
is much easier, as users have clear financial statements that can be assessed and
used to form a profile. For the underbanked, lending and Buy Now Pay Later
(BNPL) businesses have more difficulty accessing financial data points and often
rely on self-reported financial information. Access to alternative but reliable data
points from an underbanked user’s telco network can help businesses build a
suitable credit profile.
How to use the Mono Telco Data API

To get started with Mono’s Telco Data API, you’ll need to have an active and verified
business account on Mono.
If you already do, this detailed, step-by-step guide will help you integrate the Telco API
into your app.
Questions you might have and answers to them
1. Can all partners access this feature?

Yes, Telco Data is available to active and verified businesses that use Mono in
Nigeria.
2. How much does it cost to use the Telco API?
Telco Data costs ₦100 per connected Telco account.
If you have any questions or feedback to share, please email us at [email protected] —

we'd love to hear from you!
Like what you read?

Become a subscriber and receive notifications about blog posts, company
events and announcements, products and more.
Enter email Subscribe
Next Read
27 Mar, 2024 Product
5 ways we have improved the widget experience for

your users
Read the story
21 Feb, 2024 Product
The Mono Widget 2.0 is Live!
Read the story
Start building with Mono

Access high-quality financial data and start
processing payments directly from bank accounts
in minutes.
Start now for free Talk to Sales
Products Resources Company Legal
Connect Developers About us End-User Policy
Statement Pages Documentation Partner stories Privacy Policy
DirectPay API Reference Blog Developer Policy
DirectPay Pages SDKs Coverage Terms of Use
Portal Demo Careers Cookies
Transactions Join Slack Contact Security
Income Consumers
Information
Data Sync
© Mono Technologies Nigeria Limited
Twitter LinkedIn

Introducing The Mono Telco API - Mono Blog

Uploaded by

Copyright:

Available Formats

Introducing The Mono Telco API - Mono Blog

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Introducing The Mono Telco API - Mono Blog

Uploaded by

Copyright:

Available Formats

3/31/24, 8:02 AM Introducing the Mono Telco API - Mono Blog

Share article Twitter LinkedIn

products, offer more personalized experiences, and make more data-informed

Why Telco Data?

What data can businesses retrieve?

How businesses are using the Mono Telco Data API

1. Consumer Insights - Businesses can rely on telco information to summarise

How to use the Mono Telco Data API

Questions you might have and answers to them

1. Can all partners access this feature?

If you have any questions or feedback to share, please email us at [email protected] —

Like what you read?

Enter email Subscribe

27 Mar, 2024 Product

5 ways we have improved the widget experience for

21 Feb, 2024 Product

The Mono Widget 2.0 is Live!

Read the story

Start building with Mono

Start now for free Talk to Sales

Products Resources Company Legal

Connect Developers About us End-User Policy

Statement Pages Documentation Partner stories Privacy Policy

DirectPay API Reference Blog Developer Policy

DirectPay Pages SDKs Coverage Terms of Use

Portal Demo Careers Cookies

Transactions Join Slack Contact Security

© Mono Technologies Nigeria Limited

You might also like