Monzo continues European expansion with Spain launch. The Spanish debut comes hot on the heels of Monzo's April launch in Ireland, which came four months after securing its European banking licence in December 2025. October 29, 2026 Monzo, a UK-based digital bank with more than 16 million customers, has officially entered the Spanish market, representing its first expansion into continental Europe. Registered with the Banco de España, Monzo opened a waitlist for Spanish customers back in May and is now accepting applications for personal, joint, under-18, business, and instant access savings accounts. Each account is issued with a Spanish IBAN and connects to Bizum, the country's mobile payment service. Francisco Sierra, who previously held roles at Funding Circle, N26, and Western Union, joined Monzo in June 2025 as general manager for Spain to lead the rollout. The launch follows Monzo's Irish debut in April, which itself came four months after the challenger obtained its European banking licence from the European Central Bank and the Central Bank of Ireland in December 2025. Diana Layfield, Monzo's group CEO, states that the Spanish launch is a "major step" towards achieving its goal to "bring Monzo to millions more customers across Europe". To focus on its European ambitions, Monzo exited the US market earlier this year following a four-year presence. After two years leading the bank's European expansion efforts, EU CEO Michael Carney stepped down last month to start his own AI accessibility venture. Monzo has not yet named his replacement. Reporter, FinTech Futures Cameron Emanuel-Burns, a reporter at FinTech Futures, is dedicated to enhancing the accessibility of fintech for a broader audience. He has contributed articles to various media platforms and possesses a strong interest in all aspects of fintech. Prior to his involvement in the financial industry, Emanuel-Burns worked in the podcasting field, where he held editorial, hosting,and production positions for renowned production companies, covering diverse topics. With a research master's degree in conflict analysis, he conducted a study on the influence of anti-refugee policies on extremism.

Funding Circle launches new Cashback card transfer feature for SMEs. Published: 27th October 2026 Funding Circle has introduced a new transfer feature for its Cashback card, enabling UK small businesses to make payments directly to bank accounts using their existing card credit facility. The new functionality allows business owners to transfer funds to any UK bank account, extending the use of the Cashback card beyond traditional card payments to cover expenses such as rent, supplier invoices and other business costs. The feature is designed to help SMEs manage their cash flow more effectively by bringing card spending and bank transfers together in one platform. Businesses can also transfer funds directly into their own business bank accounts, providing access to additional working capital when needed. Transfers requested before 2pm on working days will be processed on the same day, giving businesses greater flexibility to manage short-term funding requirements. The transfer feature is integrated into Funding Circle's existing web portal and mobile app, allowing customers to manage payments and cash flow from a single platform. Customers can benefit from up to 42 days of interest-free credit, enabling businesses to manage payment timings without immediately drawing on their cash reserves. To maintain consistency and transparency for suppliers, payments are made in the customer's own business name. The functionality also integrates with accounting software including Xero, Sage and FreeAgent, automatically synchronising transactions and reducing the need for manual data entry. Funding Circle said the feature would help businesses manage expenses that cannot typically be paid by credit card, while reducing the administrative burden of using multiple funding and payment solutions. Tim Trailor, Managing Director, Cards at Funding Circle, commented: "Small business owners need financial tools that are simple, useful, and built for their everyday realities. By allowing its customers to use their card credit to pay any supplier, Finance Connect is removing the friction of managing multiple credit facilities. "We are committed to consistent product innovation that gives small businesses greater control over their everyday cash flow." The launch forms part of Funding Circle's ongoing investment in technology and product development as it expands its range of financial services for UK SMEs. Lisa Laverick Editor - Finance Connect