Tagged: monzo

February 3, 2023 @ 9:15 am By JD Alois  |  

Monzo, a top digital bank serving the UK and the US, has surpassed seven million customers, according to an investor update posted on the Monzo community forum. The post indicates that Monzo has been growing by 150,000 new account sign-ups each month, with 350,000 customers… Read More

January 17, 2023 @ 5:00 pm By Omar Faridi  |  

Andrew Ellam, former Chief of Staff to CTO and Head of Technical Program Management at Monzo Bank, joins the senior leadership team as VP of Technology at Climate X, a multi-award-winning global climate risk data & analytics provider based in London, UK. Andrew reportedly “brings… Read More

August 23, 2022 @ 3:32 pm By JD Alois  |  

Digital banks and neobanks are a fairly recent evolution in the financial services world. Incumbent banking has been around for decades, if not hundreds of years. Old banks taking deposits for safekeeping, paying little in return (or charging fees), packaged with mediocre services, and queues… Read More

July 26, 2022 @ 12:28 pm By JD Alois  |  

Monzo, a leading digital bank, has been ordered by the UK Competition and Markets Authority (CMA) to manage its departing customers better. According to a statement by the CMA, Monzo must review how it communicates with exiting customers regarding historic financial transactions. Apparently, Monzo informed… Read More

May 31, 2022 @ 12:27 pm By Omar Faridi  |  

The team at Fintech Monzo notes that you can now send funds abroad from your Monzo Business account. Monzo confirmed that they have partnered with global Fintech firm Wise (LSE:WISE) in order to give clients a simple, affordable way to send funds overseas. The money… Read More

January 14, 2022 @ 8:56 am By Omar Faridi  |  

UK-headquartered digital bank Monzo reveals that they’re opening up their Open Banking-powered gambling block to “all Open Banking providers, following a pilot last year with Truelayer.” As mentioned in the update from Monzo, this extension will let all licensed UK Open Banking firms to “integrate… Read More

December 29, 2021 @ 11:17 pm By Omar Faridi  |  

Fintech firm Monzo notes that you can now choose to set your contactless spending limits “to levels you’re comfortable with.” Or you may choose to turn contactless off completely if you want to, the team at Monzo writes in a blog post. In October 2021,… Read More

December 5, 2021 @ 2:30 pm By Omar Faridi  |  

Mobile banking app N26 recently confirmed that they’re getting ready to close down all US accounts in January 2022. As noted in a blog post by UK-based Fintech Monzo, this decision has “left many customers looking for a replacement that offers easy mobile banking, low… Read More

November 26, 2021 @ 10:18 am By Omar Faridi  |  

UK-based digital bank Monzo notes that since bringing clients a better way to pay later with their new product, Monzo Flex, they have seen significant demand from customers asking to be among the first to use it. Monzo is now inviting people who’ve asked for… Read More

November 19, 2021 @ 10:56 am By Tony Zerucha  |  

A pair of Belgian banks have ousted Revolut from the top spot in the fourth annual Sia Partners‘ Mobile Banking Benchmark: A Study on the Present State of Mobile Banking in the World. Sia Partners considered 135 banks in 17 countries across Europe, North Africa,… Read More

November 7, 2021 @ 2:23 pm By Omar Faridi  |  

The team at UK-based digital bank Monzo has shared how they are working towards net zero carbon emissions. As noted in a blog post by Monzo: “We are in a climate crisis. Everyone has a responsibility to act, and take decisions that will support a… Read More

November 1, 2021 @ 2:50 pm By Omar Faridi  |  

UK-headquartered digital bank Monzo notes that you can view all your scheduled and recurring payments in a single place within the Payments tab of your Monzo app. The team at Monzo writes in a blog post: “We know that tracking your future payments and ensuring… Read More

October 17, 2021 @ 6:21 pm By Omar Faridi  |  

The team at UK-based digital bank Monzo notes that beginning on October 14, 2021, they have  increased the limit for contactless card payments “from £45 to £100.” So the Fintech firm’s clients can carry out single payments of “up to £100” using their contactless Monzo… Read More

October 11, 2021 @ 10:07 pm By JD Alois  |  

Last week, Oportun (Nasdaq:OPRT), an online lender that utilizes artificial intelligence, said it had decided to voluntarily withdraw its application for a national bank charter from the Office of the Comptroller of the Currency (OCC). The OCC is the main bank regulator in the United… Read More

October 8, 2021 @ 8:18 am By Omar Faridi  |  

You can now invest commission-free with Freetrade, thanks to a new offer that’s currently available only with Monzo Plus and Monzo Premium. The Monzo team writes in a blog post that investing can be “a good way to grow your savings over the long-term.” That’s… Read More

October 4, 2021 @ 8:03 am By Omar Faridi  |  

UK-based digital bank Monzo has reportedly been forced to abandon its efforts to secure a US banking permit, after an unsuccessful 2-year engagement with regulators. In a statement, Monzo‘s management stated after their recent discussions with the OCC (Office of the Comptroller of the Currency),… Read More

September 27, 2021 @ 7:49 am By Omar Faridi  |  

UK-based digital bank Monzo notes that clients have been able to pay Direct Debits and “standing orders” from a Pot for a while, and now customers may complete card payments as well  – including via Apple Pay and Google Pay. As explained in a blog… Read More

September 20, 2021 @ 2:22 pm By Omar Faridi  |  

UK-based digital bank Monzo says that it already makes it easy for clients to manage their spending and ensures that they have funds set aside for settling bills and adding to their savings. Monzo, which is under investigation for possible money laundering activity and posted… Read More

September 12, 2021 @ 7:27 pm By Omar Faridi  |  

UK-based digital banking platform Monzo, which is under investigation for possible money laundering activity and posted £130m in losses, is reportedly planning to enter the fast-evolving Buy Now, Pay Later (BNPL) sector. As first reported by the Evening Standard, two different sources noted that the virtual… Read More

September 12, 2021 @ 11:37 am By Omar Faridi  |  

Women Returners and Innovate Finance have teamed up to establish a cross-company returner program, which aims to encourage professionals to try re-entering the Fintech industry after long-term or extended career breaks. UK’s digital bank Starling, Fintech Unicorn Klarna and PrimaryBid will reportedly take part in… Read More