Full-Time
Posted on 2/18/2025
Digital-only banking platform for consumers
ÂŁ30.8k - ÂŁ35kAnnually
Mid, Senior
Cardiff, UK
The role is office-based Monday to Friday.
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Monzo operates as a digital-only banking platform focused on providing a modern way for individuals to manage their finances. Its main product is a mobile app that allows users to track their income, spending, and savings easily. The app includes features that help users save money, such as automatically setting aside a portion of their paycheck or rounding up transactions to the nearest dollar. Monzo generates revenue through interest on deposits, fees for certain services, and interchange fees from card transactions, as well as offering overdrafts and personal loans. What sets Monzo apart from traditional banks is its real-time balance updates and instant spending notifications, which help users stay informed about their finances. The goal of Monzo is to provide a convenient, mobile-first banking experience that meets the needs of its growing customer base, which has surpassed 8 million.
Company Size
1,001-5,000
Company Stage
Late Stage VC
Total Funding
$1.9B
Headquarters
London, United Kingdom
Founded
2015
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Competitive salary
Flexible working hours
Work from home
Stock options
32 days of paid vacation and public holidays per year
Health insurance
EAP
Learning budget
Home office stipend
Paid parental leave
Monzoâs chief operating officer Sujata Bhatia is leaving the UK challenger bank after five years.Bhatia announced on LinkedIn that she is "stepping away" from the neobank, saying it was the right time to exit.She said:âThereâs never a good time to leave a company thatâs on a tear and has some of the best and smartest people driving it forward, but in many ways, thatâs exactly why it feels like the right time. I couldnât be prouder of what weâve achieved as a company over the last five years.âBhatia, a former American Express executive, pointed to some Monzo highlights during her tenure, including the challenger backing becoming full-year profitable.She also singled out CEO TS Anil, who she said had taken the âbar for leadership to new levels".Bhatia, who was part of Monzoâs executive team, didnât reveal details of her next move.Prior to Monzo, Bhatia spent almost 16 years at American Express, including roles as senior vice president for Global Merchant Services Europe and senior vice president of Global Strategy and Capabilities.Anil said:âSujata has been an incredible force over the past five years and Iâd like to pay a special thanks to her for everything sheâs done to help build Monzo into the success it is today. She leaves with all our love and gratitude as she embarks on her next chapter.âMonzo, which now has move 10 million customers, and is valued at $5.9bn, is set to launch across the EU next year
The last half-decade of the 2020s looms, and for FinTechs and financial services in general, the dust has just started to be kicked up on Capitol Hill and in the White House in terms of new regulations and even a reshaping of the regulatory agencies themselves. Consumer Financial Protection Bureau Director Rohit Chopra was removed, and there is a bill in Congress afoot to abolish the agency itself. The Federal Deposit Insurance Corp. issued a slew of consent orders that delve into AML and KYC. Thredd CEO Jim McCarthy told Karen Webster that a seismic shift will define the sector
Recognized as one of the most dynamic and innovative ecosystems globally, the UK is home to a thriving network of startups, scale-ups, and established tech giants. With strong infrastructure, access to venture capital, and a highly skilled workforce, the UK remains a global leader in sectors like fintech, artificial intelligence, and digital health. In 2024, the UK maintained its leading position, raising âŹ17.5 billion (23.6% of total investments) across more than 861 deals. While the country retained its position from the previous year, the total amount raised was approximately 30% lower than in 2023, when UK companies raised âŹ24.7 billion. Nevertheless, the ecosystem faces challenges, such as a shortage of tech talent due to competition with global markets, high operating costs, and uncertainties around post-Brexit regulatory frameworks. Despite these obstacles, the UKâs tech sector remains resilient, continuing to attract significant investment and foster innovation
While Monzo wants to go public, its leadership reportedly canât agree on where to list.Thatâs according to a report Tuesday (Jan. 21) by the Financial Times (FT), citing sources who say that while CEO TS Anil is backing an initial public offering (IPO) in the U.S., the neobankâs board wants to list in Monzoâs home city of London.Sources say the FinTech, valued at $5 billion last year, is in preliminary talks with bankers as it works to become âIPO readyâ before the end of the year.The company also hasnât settled on a timeframe for an IPO and wants to be ready for the right market conditions, the sources said. One source said the IPO would be more likely to come in 2026, though Monzo is intent on having its governance and paperwork ready this year.PYMNTS has contacted Monzo for comment but has not yet gotten a reply.The FT report notes that the debate about where to list could potentially be bad news for the London Stock Exchange. Companies going public in the U.K. raised the lowest amount on record last year, the report said â citing data from Dealogic âamid worries about the British marketâs liquidity and valuations.FinTech companies could turn things around, the report adds. Aside from Monzo, neobanks such as Starling and Revolut are expected to go public in the coming years
Neobanks have gained momentum with the promise of helping consumers shift their financial lives fully online â with digital onboarding, speedier account openings and competitive rates on deposits and other offerings â in direct competition with traditional omnichannel financial institutions (FIs). Those same attributes are being leveraged by the digital-only players to attract smaller businesses, particularly where there have been some gaps left by FIs. But challenges and risks remain. The potential of the small- to medium-sized business (SMB) market is vast. In the U.S. alone, there are more than 33 million smaller businesses in operation, as estimated by the U.S