At Monzo we’re building a new kind of bank, built for your smartphone. The company, founded in early 2015, now has over 60 employees based in our Old Street office. In August 2016 we officially became a regulated bank and will be launching current accounts in a matter of months.
Over 60,000 people in the UK are using the Monzo app as part of our Beta, on iOS or on Android, with hundreds more joining every day.
"La plataforma de Crowdcube se colapsó el día en que la campaña de Monzo salió al aire."
"I was showing our Minister for Small Business... the way that Monzo cards work. When I saw this I was so blown away."
"It promises to offer travellers the Mastercard exchange rate with no extra fees or charges for using the card abroad – unlike most banks which pile on the fees if you use your card overseas."
"“We have an unfair advantage,” says Tom Blomfield. “We have no customers and no revenues.”"
"Monzo wants to take on the traditional banking sector on its own turf, aiming to offer a full current account service in early 2017."
"“When you can order an Uber at the click of a button or start seeing self-driving cars on the street, the idea that banking hasn’t changed in decades is extremely frustrating.”"
"That's where Monzo comes in: yes, it's an app, but it's also a bank in itself. A real bank, just without the long lines and physical offices."
"“It’s the Lamborghini of card colors, it’s vulgar, it’s shouting,” Lind says. “You know, if you stick it under UV light, it’s fluorescent,” Stanley adds."
"Monzo will let you ask Siri to send payments to fellow Monzo users, authenticating them with the touch of a finger with Touch ID."
"Tom Blomfield, Britain's youngest bank chief executive at 31, believes the British banking system is broken."
"Mondo is very lucky because we have customers that use their smartphones and not their branches."
"It’s not just millenials taking to the digital platform: Monzo’s oldest user is 74.”
"The travelling benefits alone will be enough for some people to get one alone. For others, the current pre-paid card could be used as a very modern way of giving kids pocket money or simply limiting your own spending if you're prone to getting carried away.”
"But since announcing the name change process Mondo has won a restricted banking licence, meaning it can hold customer money and issue proper accounts.”
"We’ve entered the most profound era of change for financial services companies since the 1970s brought us index mutual funds, discount brokers and ATMs.”
"This week Mondo, one of the most-hyped up and coming challenger banks, was given the golden seal of approval by the Bank of England to launch its app-based bank in Britain.”
"The bank, built around a mobile phone app, will focus on current accounts and digital services, interacting with customers by sending notifications and providing instant balance updates - rather than through high street branches.”
"London-based challenger bank Mondo has received a restricted UK banking license. UK financial regulators granted their approval approximately 18 months after the company was first founded in early 2015.”
“Startup app-only bank Mondo just made a crucial step in becoming an official bank after being granted a restricted banking licence by UK regulators.”
“Mondo, the U.K. mobile banking startup and probably the noisiest of the new breed of British challenger banks, is now officially, well, a bank.”
“Mondo announced on Thursday that it has received a license “with restrictions” by the Financial Conduct Authority and the Prudential Regulation Authority, less than 18 months after being founded.”
“Digital challenger Mondo, a smartphone-only app, has been granted a banking licence which gives it free-reign to offer customers the full range of services offered by the traditional high street banks.”
“Mondo has been dreamt up to combat frustrations at the inefficiencies of the traditional High Street banks, it's ‘for anyone that lives on their mobile phones’.”
“At the moment Mondo only offers prepaid debit cards that can be topped up at cash machines and online, but it hopes to get a full banking licence later this year. This will enable it to offer standing order, direct debit and faster payments features.”
“We're taking a different approach… using the smartphone and technology to develop a relationship with our customers…and to use that relationship to manage their lifestyle.”
“Mondo, the digital bank that we’ve come to know and love, needs your help finding a new name.”
“We've seen close to 10,000 submissions already", said a cheery spokesperson for the firm. "As of right now we're at 9,400 and that's just from this morning!”
“There is a long waiting list but Mondo is trying to send out 1,500 cards a week to everyone who wants one”
“Mondo, the yet-to-launch U.K. banking startup that is creating quite a lot of buzz amongst the London tech scene and beyond, is opening its Beta to the public today”
“Challenger banks – upstart lenders looking to take on the major retail players – are fast becoming all the rage”
“We are pretty comfortable in declaring a world record in equity crowdfunding for fastest million pound raise – ever.”
“A brand being built through coverage in the technology press on top of a product being built in an extended soft launch with early adopters.”
“Mondo is one of a growing number of companies trying to disrupt retail banking in the U.K.”
“Innovative new mobile-first challenger bank Mondo has landed a fresh round of funding”
“It feels like I’m living in the future of money management”
“The potential market size is an order of magnitude or two bigger than the kind most other companies try and tackle.”
“From a cramped office in East London, Tom Blomfield, a 30-year-old Brit, is preparing to take on the banking sector.”
“Its about Mondo being an open platform, one that welcomes people to build ideas and even money-making businesses on top of the bank they’re building.”
“I used to carry around loads of cash and only used my card for big purchases. But Mondo is handy because I can clearly see everything I do.”
“Mondo definitely isn't banking the way you'll be used to.”
“Banking simply “no longer stacks up” in its current iteration – and that often means a poor deal for the consumer.”
“Mondo will will focus on predictive and intuitive software.”
“Mondo CEO Tom Blomfield doesn't look like a typical banker, and he doesn't want his mobile app to behave like a typical bank”
“Founder Tom Blomfield says Mondo's entire experience is designed around your smartphone”
"I think that in the next two or three years a bank will be launched that will become the scale of Google or Facebook”
"Mondo is a bank designed for the world we live in today.”
"Mondo is a bank designed for the world we live in today.”