Tagged: monzo

Future Fintech: The Fight for the Digital Banking Crown

As 2019 moves into its third quarter, the once burgeoning industry of digital banking is starting to make serious waves in the financial world – and investors are taking notice. Big players like Monzo, Starling, N26, Revolut, and EQIBank have recently completed massive funding rounds… Read More

Monzo Announces Launch of Flexible Loans

UK challenger bank Monzo announced on Thursday the launch of its flexible loans. The startup reported that over the past nine months it has gradually been offering loans to more and more of its customers to make sure its system was to “get it right.”… Read More

Monzo Announces New Interest Rates For Savings Pots

UK challenger bank Monzo announced on Friday it has added new interest rates for its Savings Pots. Monzo reported that it is now 1.81% (AER/Gross) on fixed Savings Pots and 1.15% (AER/Gross Variable) on Easy Access Savings Pots. “We’re making opening and managing a savings… Read More

Monzo: We Weren’t Storing Some Customers’ PINs Correctly Which Caused An Issue With Online Banking Services

Just days after addressing previous issues in its banking services, digital challenger bank Monzo announced it may have figured out what was causing the most recent issues, which was that it wasn’t storing some customers’ PINs correctly. The banking startup revealed in a recent blog… Read More

Monzo Addresses Recent Problems With Banking Service: We’ve Fixed the Issue & Everything Should Be Back to Normal

UK digital banking group Monzo announced on Tuesday it has fixed that issues that may have caused its users to have problems accessing the banking service. Monzo revealed that when the issue happened, users were unable to do the following: Log into the app Send… Read More

Varo Money Inches Closer to Becoming First True Digital Only Bank in the US

Varo Money has been in operations for years now providing banking services in a digital only environment to a growing number of consumers. Like all other US-based aspiring digital banks, Varo has had to leverage regulatory arbitrage to provide its services by partnering with another… Read More

Monzo Announces New Xero & FreeAgent Integration For Business Accounts

UK challenger bank Monzo announced on Monday it has formed a new integration with Xero and FreeAgent for its business accounts. Monzo revealed in a blog post: “We’ve heard that other accounting tools, are important to you too, which we’d love to work on in… Read More

Report: Fintech Remains Prominent in UKs Biggest VC Rounds so far in 2019

The UK has been a hotbed of Fintech innovation for years now. The one-two punch of a creative financial services industry combined with a world-leading regulatory approach have joined to create a robust ecosystem of Fintech development. Of course, none of this would take place… Read More

Monzo Publishes 2019 Annual Report

UK challenger bank Monzo has published its 2019 annual report. According to Monzo. The annual report is a detailed look at what a company’s been doing and how that’s affected its finances over the past financial year. CEO of Monzo, Tom Blomfield, has also written… Read More

Chatter: Digital Bank Varo Said to be Shutting Down Personal Loan Division as it Focuses on Becoming First US Fintech Bank [u]

Varo Money, one of a handful of US-based digital challenger banks seeking to receive a bank charter from the Office of Comptroller of the Currency (OCC), is shutting down its consumer lending division, according to a reliable source. Multiple employees are said to be looking… Read More

UK Challenger Bank Monzo Secures £113 Million Through Latest Investment Round; Bringing Valuation to £2 Billion

UK-based challenger bank Monzo announced on Monday it secured £113 million through its latest investment, led by Y Combinator Continuity and Latitude. The round of funding reportedly brings the platform’s valuation to £2 billion.  The news about Monzo’s latest investment round comes just six months after the… Read More

Monzo Addresses Bank Transfer Errors & How the Digital Bank Platform is Preventing Future Issues

UK challenger bank Monzo addressed recent issues concerning its bank transfer services. The digital banking platform reported that on May 30th, around a quarter of bank transfers into Monzo accounts were failing or delayed by several hours and bank transfers from the Monzo accounts were… Read More

UK based Digital Bank Monzo Launches in US, Partners with Licensed Bank to Provide Services

Digital challenger bank Monzo has crossed the Atlantic and entered the US marketplace. On the same day competitor Revolut announced an expansion into Australia, Monzo announced banking services in the US in a release and a blog post. A signup form is available on the… Read More

Monzo Attracts Two Million Users to Digital Banking Platform

UK challenger bank Monzo announced on Monday it has attracted two million users to its digital banking platform. Founded in 2015, Monzo reported that it is building a “new kind of bank” that lives within smartphones and is built for the way users live today…. Read More

Jumio Further Strengthens Partnership With UK Challenger Bank Monzo

U.S. fintech Jumio announced on Thursday it has joined forces with UK challenger banker Monzo. Jumio reported that it has been Monzo’s primary identity verification solution since 2017 and the companies have worked together to offer an easy-to-use, intuitive mobile onboarding experience for Monzo’s customers,… Read More

Monzo Introduces New Account Customization Premium Feature Monzo Plus

UK challenger bank Monzo announced earlier this week the launch of its new customization premium feature, Monzo Plus. Monzo reported that it previously published a list of things it was looking to explore throughout 2019, including an option to allow users to purchase “add-ons” for their… Read More

Monzo: Users May Now Open An ISA Through Monzo Mobile App

UK challenger bank Monzo announced on Thursday that users may now use the Monzo mobile app to open a cash ISA (Individual Savings Account), thanks to its partnership with OakNorth. It was revealed: “You’ll need to deposit a minimum of £500 to open one. In both… Read More

Monzo Pauses Plans to Join UK’s Cheque Image Clearing System

UK challenger bank Monzo announced on Friday it was putting its plans on hold to allow its users to pay in cheques with a picture. The startup reported that last year it announced its plans to join the Image Clearing System, but in January, it… Read More

Crowdcube Looks to Change Nominee Terms for Monzo Investors, Takes Heat in Online Forum

In the past week, Crowdcube has issued a request to change the Nominee terms for Monzo, a digital-only challenger bank that has gained Unicorn status. Monzo has crowdfunded several times on Crowdcube. The most recent crowdfunding round saw the Fintech raise £2 million in just two… Read More

Monzo Launches First 100 Business Accounts

UK challenger bank Monzo announced on Monday the launch of its first 100 business accounts. This news comes just a few months after Monzo revealed it was considered business banking, with Founder and CEO, Tom Blomfield, stating 2019 plans included business accounts. Speaking about the new… Read More

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