Tagged: monzo

December 30, 2019 @ 7:32 am By Omar Faridi  |  

Digital bank Monzo is reportedly holding discussions with various large investors about potentially raising additional funds. Following its upcoming investment round, the company might become one of the UK’s largest Fintech startups. According to sources on the matter, Monzo is in talks with investors, some… Read More

December 19, 2019 @ 9:02 am By Samantha Hurst  |  

UK-based digital banking group Monzo announced on Wednesday it will now allow cash withdrawals in the European Economic Area (EEA) to be free. This news notably follows a change in EU regulation on cross-border payments we’ve decided to remove ATM fees and limits for countries… Read More

December 18, 2019 @ 3:40 pm By Samantha Hurst  |  

RDC (Regulatory DataCorp) announced on Wednesday it has renewed its agreement with UK-based digital banking group Monzo to help fight against anti-money laundering for the bank’s U.S. launch. According to RDC, the partnership will build on the success of the past two years in the… Read More

December 2, 2019 @ 7:23 am By Samantha Hurst  |  

UK-based digital banking group Monzo recently announced it is offering Google Pay options for users as they wait for their debit card replacements. The new option will allow users to continue using their Monzo services until their card arrives. “When you lose your Monzo card… Read More

November 19, 2019 @ 7:18 am By Omar Faridi  |  

Funding Xchange (FXE), a company that helps people and organizations find suitable business loans and funding options from its marketplace of more than 45 established lenders, has raised £8 million (appr. $10.4 million) through an investment round. FXE’s decisioning platform is used by UK-based Monzo, a… Read More

October 18, 2019 @ 12:54 pm By JD Alois  |  

Yesterday, the BBC program “Watchdog Live” reported on alleged problems at digital bank Monzo where customers have been blocked from accessing their accounts. “we’ve been contacted by quite a few customers saying they have had their accounts frozen with no explanation, so all of a… Read More

September 30, 2019 @ 10:04 am By JD Alois  |  

Crowdcube, a leading UK based crowdfunding platform, is out with a note touting the fact they have funded 3 out of 16 (19%) of the UK’s active unicorns. These three companies include BrewDog, Monzo and Revolut. Crowdcube reports that in the past 12 months, the… Read More

September 25, 2019 @ 8:50 am By Samantha Hurst  |  

UK challenger bank Monzo announced on Tuesday it is making some changes to its Monzo Plus product after users offered feedback on improvement. Tom Davies, the CEO of Monzo revealed more details about the product’s changes, as well as new team and name. “We’re going… Read More

September 16, 2019 @ 8:28 am By Samantha Hurst  |  

UK challenger bank Monzo announced on Monday that more than three million people are now using its banking services. The digital bank reported that the amount of people equals 1 in every 20 adults in the UK. Founded in 2015, Monzo claims it is building… Read More

August 18, 2019 @ 2:45 pm By Aubrey Hansen  |  

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

August 15, 2019 @ 8:21 am By Samantha Hurst  |  

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

August 9, 2019 @ 9:54 pm By Samantha Hurst  |  

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

August 5, 2019 @ 11:17 am By Samantha Hurst  |  

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

July 31, 2019 @ 10:29 pm By Samantha Hurst  |  

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

July 17, 2019 @ 9:54 am By JD Alois  |  

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

July 8, 2019 @ 1:06 pm By Samantha Hurst  |  

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

July 4, 2019 @ 10:23 am By JD Alois  |  

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

June 27, 2019 @ 11:50 am By Samantha Hurst  |  

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

June 25, 2019 @ 2:46 pm By JD Alois  |  

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

June 25, 2019 @ 8:56 am By Samantha Hurst  |  

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