The Financial Inclusion Summit Series: Issue no. 15

Interview with Monifair


The “dream” – how it all started

Monifair is a fintech startup based in Oslo. Founded by a team who wants to bring fairness back into finances. We are on a mission to help our customers achieve their dreams and life goals, by offering a service that gives them mastery and empowerment over their finances. We will be offering the benefits of the latest technologies, innovations and services at a rapid pace. All packaged up in a beautifully designed mobile application, and with financial education that helps.


Product / Area of focus – to best represents Monifair’s work

Launching in Q3 2019, Monifair will initially allow users to reach their financial goals by giving them a full overview, control and insights into their finances. The MVP main features will let users to:

  • View all their finances in one place
  • Get analytics and insights into how they are spending money
  • Set budgets, financial goals and track progress
  • Payment functionality and paying invoices
  • Able to set up group expenses and shared actions

Future developments will include affordable refinancing, opportunities to compare deals and a host of banking services.



Challenges in the geographical areas of influence

Apart from the fact that Norway stands out for their political and social stability, it is performing well above other European countries when it comes to economic development. However, according to the Norwegian press and media, there are some financial challenges Norwegian young adults (18-35) are struggling with, but are, at the same time, an opportunity to expand and make our product grow in order to solve/palliate them:

Fragmented finances and tools: in the Norwegian market is possible to find different solutions that might answer to the financial needs the target audience presents, but they do not present a complete product to manage all the personal finances.

Saving culture in young adults is diminishing, focus on living for now: only 26% of the Norwegian population made a budget to plan their economy during 2017, the lowest percentage both in Nordic and European region.

Rapidly increasing personal debt: according to the Norwegian Financial Authority, there was a 25% increase in applications for consumer loans in Norway from 2016 to 2017. Furthermore, the debt collection companies received a total of 8.6 million cases for follow-up in 2017, an increase of 10% from 2016.


Co-operation and partnerships

In order to offer the latest technologies, innovations and services at a rapid pace, Monifair is partnering with Neonomics. This Norwegian FinTech startup provides a smart platform for banking interconnectivity around the globe. Their end-goal is to foster a worldwide synergistic relationship between banks, FinTechs and the like in pursuit of innovative collaboration in the open banking era. Neonomics will provide to Monifair the necessary technology to connect with banks or other financial institutions and to allow users to carry out payments through the app.



Monifair is a small team of six people who have just started on the journey of developing the best financial management tool for younger people. Our main accomplishments so far have been the seed funding raise and production of the MVP version of the Monifair app which is ready to be launched soon.


The Financial Inclusion Summit takes place in Oslo, Norway, on 28 March 2019. To find out more or request an invitation, visit:

Follow us on @FinIncSummit #fintechforall



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