Case Study: Loot achieves instant deposits with Monoova

Loot enables instant deposits with Monoova as 90% of retail banking accounts support PayTo

Loot, a financial education and trading platform for young Australians, faced the challenge of meeting its users' strong preference for modern, real-time payment methods. The platform needed to integrate seamless payment options like PayID and PayTo to avoid user dissatisfaction and keep pace with the declining use of traditional payment systems. To solve this, they partnered with the payments vendor Monoova.

Monoova provided its automated payment solutions, including PayTo and PayID, which were integrated into Loot's platform by technology partner Whitefox. The solution enabled Loot to offer users instant virtual bank account creation and real-time deposits directly through its app. This integration resulted in a robust payment infrastructure that significantly enhanced the user experience and positioned Loot for future growth.

Loot