Platform Features
The MoMo-LightWay Finance platform is designed with robust, modular capabilities to ensure secure, efficient, and user-friendly mobile money services. Below are the core features and functionalities:
1. User Management & Authentication
User registration and onboarding process
Secure login with multi-factor authentication (MFA/2FA)
Account verification and password recovery workflows
Session management to protect against unauthorized access
2. KYC & Compliance Verification
Integration with third-party identity verification services (Sumsub)
Know Your Customer (KYC) checks for identity validation
Enforcement of Anti-Money Laundering (AML) compliance
Maintenance of secure customer identity records
3. Fund Transfer & Transaction Management
Domestic and international transfers to:
MoMo customers (MoMo direct transfers)
Accounts in other banks.
Transaction lifecycle management: initiation, processing, completion, failure handling, and reconciliation.
Support for multi-currency transactions
Ability to save cards and beneficiaries for faster repeat transactions
4. Fee & Exchange Rate Engine
Real-time Foreign Rates (FX) rates calculation
Option to check the current exchange rate before transaction
5. Notifications & Communication Module
Real-time and scheduled notifications for:
Transaction updates
Alerts and reminders
Promotional campaigns
Delivery channels: email, SMS, and push notifications
6. Admin & Operations Dashboard
Tools for customer account management
Live transaction monitoring and anomaly detection
Manual KYC review and fraud alert handling
Operational and compliance reporting tools
7. Security & Auditing Framework
Platform-wide encryption for sensitive data
Role-based access control for internal and external users
Comprehensive activity logging and auditing
Secure API access management.
8. Reporting & Analytics Module
Operational reporting on transaction volumes and service usage
Financial reporting for settlements and reconciliation
Business Intelligence dashboards for performance insights
Regulatory reporting to meet compliance requirements
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