Monadd is a tech-enabled platform that facilitates admin updating across accounts. It is a one platform combining AI and minimal information input from the user to recognize the services attached to a person’s household. It allows anyone to update their address, cancel services, get visibility of contract expiration and contextual data, switch to green sustainable services, add multiple households and their attached accounts as well as store and securely share admin documents (contracts, invoices, agreements) for easy finding, processing and handling when they are needed. Designed to lessen the cognitive load, Keep private docs secured, and maintain users informed with personalized insights for them to make educated decisions anytime and anywhere they need to manage their admin.
Founder Interview with Jessica Mendoza
What was the inspiration around Monadd’s inception and bridging the gap between offline and online admin? How did you become aware of this unfulfilled need?
Cognitive overwhelm, lack of awareness and time-consumption are at the heart of any admin problem. Whether it’s online or offline, admin is usually scattered and can never be found easily, particularly in those crucial life moments, like when a person is moving home. It is often difficult to even remember and collect all the admin pieces that need one’s attention, let alone having the time and mental space to tackle them individually and through the different processes every service provider has reserved for them.
In my case, there was a moment in my life where I had to do something really simple (again): updating my address across multiple accounts when I was moving home. Despite technology nowadays assisting us in all aspects of life and relieving us from tasks that can easily be automated, there was just no solution to this simple problem. Nor was I able to alert my multiple service providers of any other lifestyle change.
I quickly realized that the problem is even bigger: While in business environments it is standard to have sophisticated document management and automated workflows, there is a huge gap in this regard on the consumer side. A gap that puts all parties on a disadvantage: the individual person with its admin needs, the service providers which suffer from bad and inconsistent customer data and less effective CRM, the environment through misdelivered mail, wrong addresses etc. It also raises the question of data-ownership: Why wouldn’t I be in control of my personal data, just sharing what needs to be shared and when it needs to be shared with the specific party that needs it?
What was missing was a solution for people to efficiently and effectively organize and manage their admin and satisfy their various needs around it, like having it available in one place, being able to sort and search it with one click, being alerted around important dates or granting secure access to selected third parties when needed. A solution that relieves them from the mental load around it and gives them the satisfactory feeling that it is all safe and securely accessible in one place whenever and wherever they need it. With it also reducing the risk for late fees, negative impact on credit-scores and even risks around identity theft from e.g. misdelivered social security or voting paperwork.
With deploying change of address as our first and main use case and gathering extensive feedback from our customers it became clear to us how big the potential is, especially in an environment that becomes increasingly subscription based, from Netflix and other entertainment providers to software subscriptions, e-commerce accounts, gym memberships, phone and broadband providers down to recurring council, tax and public administration paperwork etc.
We made it our mission to improve people’s lives around admin and handling their data along strong ethical guidelines, while at the same time creating various commercial opportunities for service providers and improving the situation of all stakeholders involved, including public administration and down to the environment.
Was there a major risk that stands out to you which Monadd took, especially at its onset? Are there any challenges you’re facing now?
Everything is a risk, particularly if you’re creating something that has not been done before. Sure, there are solutions here and there that solve parts of the problem, but there hasn’t been a comprehensive solution in the market yet. We face the challenge of defining a path, stepping into roads that have not been well travelled, it’s harder to explain a market that has not fully been defined to incoming investors. All of these factors are challenges.