UK Digital Bank Monese Shares 2018 Successes & Announces 2019 Plans

Digital challenger bank Monese is celebrating the new year by reflecting on 2018 successes and revealing plans for 2019. As previously reported, Monese is licensed and regulated by the UK Financial Conduct Authority (FCA). It describes itself as an award-winning banking account that users can open instantly on their phones. The company claims to be the first 100% mobile current account in the UK. While sharing more details about 2018, Norris Koppel, Founder and CEO, stated in a recent blog post:

Here at Monese, we are building a new kind of banking service – one that is unrestricted by national boundaries or financial borders. A banking service that makes it easier for you to live, study, work, travel or retire anywhere in the world; that is fast and keeps people connected; one that speaks your language wherever you happen to live.”

According to Koppel, more than 700,000 users have signed up with Monese and in 2018 the platform’s number of sign-ups trebled, with the number soon going up to one million. Koppel reported that most of the customers that use Monese as a primary account. Along with an increase of accounts, Monese launched its business account, Monese Business, to grow offerings to customers and businesses across the UK and Europe. Along with this service, Monese released new features over the past twelve months, including Pay Your Contacts, 3D Secure support, Smart Transaction screens and Recurring Payments 

Koppel then shared what’s to come for 2019, which are the following:

  • New payment channels: Monese working on introducing additional payment channels. We know from our conversations with customers that a lot of you have requested these features and would welcome both the convenience and extra security they offer.
  • Better ways to manage money: Monese will also introduce a range of money management tools in early 2019, so you can enjoy even more control over your finances from within the Monese app.
  • More ways to fund your account: Customers can fund their accounts through debit card top-ups, bank transfers or cash deposits. The bank already has more than 40,000 cash deposit locations available.

Koppel went on to add:

At Monese we are working to create the world’s most connected and portable banking service. We believe banking should be smart, inclusive and built around you. Thanks again for all your support over the last twelve months, we really do appreciate it. We can’t wait to share more updates, products and features with you in the coming months.”

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