Monnai was founded in 2021 by Ravish Patel and Pierre Demarche, technology leaders who had worked together at a Belgium-based global communications firm for over a decade. As they traveled extensively, living and working in more than 40 countries, the co-founders gained experience building and operating global tech businesses.
Despite their success, ongoing challenges in accessing financial consumer services motivated them to establish Monnai, a company focused on leveraging data, bridging gaps between global and hyper-local markets and helping all stakeholders thrive in a connected global community.
Demarche, who serves as CEO, stated Monnai is committed to building an innovative, diverse default global infrastructure that companies can access in real time through a single API. The infrastructure is based on four key pillars, which he summarized as onboarding, trust and fraud risk management, credit decisioning, and collections.
“Our Verification and Insights APIs deliver over 500 insights, enabling fintechs to grow rapidly and securely anywhere in the world,” he said. “With our solution, businesses benefit from 99 percent uplift in fraudulent identities detected and 85 percent users identified with high confidence and it takes less than a week to access 5 billion identity and behavior data in real time.”
Monnai’s 20 employees, based around the world, are led by Demarche, who is based in California, and Chief Product Officer Ravish Patel, who works in India, where engineering and operations teams support the company’s global infrastructure and APIs. Go-to-market and customer activities are led by local teams in India, the United States, Singapore, Indonesia, the Philippines and Malaysia, company representatives stated, adding that LATAM will soon be added. Monnai noted that its infrastructure serves over 3 billion consumers in India, Southeast Asia and LATAM, leveraging more than 500 insights to enable fintechs to grow rapidly and securely anywhere in the world. The company expects its continued growth to reach more than 5 billion consumers in these emerging markets while powering regional and global fintech transactions.
Monnai’s near-term roadmap includes plans to further enhance infrastructure by vertically integrating data aggregation and orchestration solutions into a single offering. This enhanced infrastructure will help fintech and financial institution partners deliver high value, low maintenance financial products in emerging markets, the company stated.
Demarche pointed out that Monnai helps partnering organizations make informed decisions throughout the customer lifecycle in the following three ways:
Monnai reduces the complexities of disparate data, regulatory compliance and demographic bias through a single API, delivering ubiquitous decisioning insights to help our partner fintechs and financial institutions and service providers grow and scale, Demarche stated.
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Co-founder & CEO
Company Profile originally appeared in
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