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Paying by bank details becomes easier: monobank launches new AI-powered feature

Paying by bank details becomes easier: monobank launches new AI-powered feature monobank has launched a new AI-powered feature (photo: Vitalii Nosach / RBC-Ukraine)
Author: RBC Ukraine

monobank, Ukraine's largest mobile-only bank, has introduced a new feature that significantly simplifies payments made using bank details. Users can upload bills and invoices, while artificial intelligence automatically recognizes the payment information, according to the bank's founder, Oleh Horokhovskyi.

The monobank team continues to improve its payment services and has announced the launch of the new feature.

"For example, if you need to pay using bank details but only have a document with lots of payment information, simply upload it to mono," the bank explains.

In particular, for IBAN payments, users can now upload a bill or invoice in PDF, PNG, or JPEG formats.

The built-in artificial intelligence automatically identifies the required payment details among a large number of characters. The user only needs to check that the detected data is correct before making the payment.

monobank reminded customers that they have long been able to simply copy a message containing payment details and paste it into the input field. In this case, the system independently separates the payment information from the rest of the text.

In addition, monobank has expanded its referral program and launched new bonuses for sole proprietors, accountants, and companies. Users can receive up to 1,000 hryvnias for inviting others to open an account.

Recently, the bank has simplified transfers via QR codes and links as well.