Monavate teams up with tell.money to scale payment security with CoP

By selecting tell.money’s solutions, Monavate aims to solidify its commitment to fraud prevention, compliance, and simplified financial advancement. The company, a principal member of Visa, Mastercard, and Discover, focuses on supporting businesses in developing optimised payment ecosystems.

The collaboration with tell.money comes after Monavate started working with Know Your Customer in June 2024 to improve European compliance processes and scale trust in digital payments. By integrating Know Your Customer’s solutions, Monavate was set to be able to tap into its real-time global registry connections in over 140 countries via a single REST API. In addition to automating and strengthening compliance procedures, the integration focused on augmenting operational efficiency, supporting adherence to regulatory standards within the digital ecosystem.

Making payments more secure for businesses and their users

The decision to partner with tell.money comes after Monavate conducted a detailed market review, with the fintech selecting the latter’s solutions to strengthen fraud prevention, payment security, and regulatory compliance, while also ensuring an optimal experience for businesses and their customers. Commenting on the news, representatives from Monavate underlined that, through tell.money’s CoP solution, their company is set to be able to offer an additional layer of security that makes sure that payments reach the intended recipient, in turn allowing customers to transact with more confidence. Merged with tell.money’s Open Banking capabilities, the collaboration centres on enabling Monavate to continue to deliver financial solutions that meet the needs, demands, and preferences of its users with an increased level of security and trust.

Furthermore, tell.money, which focuses on simplified regulatory solutions for financial institutions and implementation of CoP and Open Banking with reduced complexities, stated that, by integrating its services, Monavate can further advance payment security while benefiting from additional possibilities for fintech companies and payment providers.