Tagged: monzo

September 1, 2020 @ 2:47 pm By Samantha Hurst  |  

UK based digital bank Monzo announced on Tuesday two new fees for its customers. The fintech startup reported that starting October 31st, it will introduce fees for taking out cash and getting replacement cards. “We’re introducing a 3% fee if you withdraw more than £250… Read More

August 15, 2020 @ 11:31 am By Omar Faridi  |  

There are now at least 67 FIntech unicorns, globally, that are valued at a combined $244.6 billion, according to a recently published infographic by CBInsights which shows that North America, particularly the US, is home to some of the world’s largest Fintechs. Fintech unicorns are… Read More

July 30, 2020 @ 4:20 pm By JD Alois  |  

Losses at UK based digital bank Monzo continue to mount, according to a report. Monzo is said to have generated £113.8 million in losses versus year prior losses of £47.1 million. Simultaneously, top-line revenue rose to £67.2m from £19.7m for the fiscal year-end February, according… Read More

July 16, 2020 @ 4:02 pm By Samantha Hurst  |  

UK challenger bank Monzo announced on Wednesday the launch of its new account, Monzo Plus. The digital bank reported that the account was created to help users get a “grip” on their finances with features like other bank accounts, credit cards, and credit scores through… Read More

June 17, 2020 @ 11:07 am By JD Alois  |  

Top digital bank Monzo has raised £60 million in new funding at a significant decline in valuation reportedly a 40% haircut. A second tranche of funding may be forthcoming later this year. It was reported last month that Monzo was seeking up to £100 million… Read More

May 31, 2020 @ 11:30 pm By Omar Faridi  |  

Digital or neobanks are increasingly being used by consumers of all age groups for managing finances, and completing transactions. Despite the COVID-19 outbreak and resulting economic problems, digital bank Starling Bank recently secured £40 million in capital. Challenger banks aim to offer better services compared… Read More

May 25, 2020 @ 1:29 pm By Omar Faridi  |  

Many large banks in the United Kingdom appear to be falling behind their all-digital competitors when it comes to providing better overall customer service, which includes the ability to allow clients to quickly open new accounts – according to a recent review performed by Peter… Read More

May 25, 2020 @ 10:17 am By JD Alois  |  

Monzo is one of the top digital banks in the UK that is seeking to challenge old brick and mortar banks in Europe and elsewhere including the USA. The past few months of operations have not been without a few bumps as Monzo has seen… Read More

May 20, 2020 @ 11:01 pm By JD Alois  |  

Monzo founder Tom Blomfield has exited the CEO role at the digital bank and will now become President of the company according to multiple reports. The current US CEO TS Anil is said to become the new “UK Bank CEO” according to Techcrunch. Anil is… Read More

May 16, 2020 @ 12:45 pm By Omar Faridi  |  

UK-based digital bank Monzo is reportedly planning to acquire additional capital at a 40% discount on its previous valuation. It was reported in December that Monzo was seeking to raise an additional £100 million but it appears the Coronavirus has impacted the funding round. As… Read More

May 14, 2020 @ 3:20 pm By Samantha Hurst  |  

UK challenger bank Monzo announced on Wednesday it has moved its Faster Payments connection in-house. The digital banking group revealed that the decision to shift in-house was due to the problems making and receiving bank transfers last May. Monzo reported: “At the time of the… Read More

May 12, 2020 @ 7:23 am By Omar Faridi  |  

UK-based digital bank Monzo has reportedly hired David Laramy, the former head of fraud at JPMorgan Chase. Laramy will be serving as Monzo’s new vice president and head of its global financial crime division. Laramy’s appointment has come shortly after the banking challenger appointed former American… Read More

May 2, 2020 @ 12:58 pm By Omar Faridi  |  

Digital bank Monzo has made more personnel changes, as it continues to strengthen its executive team. Sujata Bhatia, a former SVP and general manager, Europe at Global Merchant Services at American Express, will be serving as Monzo’s new chief operating officer. Bhatia will be replacing… Read More

April 24, 2020 @ 1:07 am By Omar Faridi  |  

UK-based digital bank Monzo has been planning to enter the US market for a fairly long time. A beta launch in the US was announced in late 2019. The banking challenger, which has been valued at over $1 billion, has managed to almost double its… Read More

April 15, 2020 @ 10:28 am By JD Alois  |  

The three largest European digital banks have over 18 million registered users combined. That number is predicted to soar to over 23 million by the end of this year, according to a writeup by Finanso. Today, Revolut (UK) is the biggest at over 10 million… Read More

April 9, 2020 @ 2:50 pm By Samantha Hurst  |  

UK-based challenger bank Monzo is reportedly set to shut down its customer support office in Las Vegas. As previously reported, the company announced the launch of the office in the summer of 2018. The customer support team was created to help Monzo scale its customer service… Read More

April 5, 2020 @ 7:07 pm By JD Alois  |  

Fintechs are starting to furlough employees as the economy tanks due to the COVID-19 induced decline. While not officially in recession, major economies are bracing for the worse while businesses are compelled to let employees go as business activity slows. On Monday, it was reported… Read More

April 1, 2020 @ 2:18 pm By Samantha Hurst  |  

Just a few weeks after launching its business accounts, UK challenger bank Monzo announced the launch of “Monzo Business” for web, which gives users the option to manage their business account on their computer or laptop. As previously reported, Monzo stated it spent the past… Read More

March 24, 2020 @ 10:11 am By Samantha Hurst  |  

As the world continues the fight against the coronavirus (COVID-19) outbreak, UK challenger bank Monzo is reassuring its customers that its services are continuing to be safe and secure. According to Monzo, more than 4 million people are already using Monzo to manage their money…. Read More

March 17, 2020 @ 2:44 pm By Samantha Hurst  |  

UK challenger bank Monzo announced on Tuesday the launch of its new business banking accounts. The banking group reported that it has spent the past twelve months building the account to make banking “effortless” for small businesses.  Monzo’s team explained: “We want our business accounts… Read More