Full-Time
Digital banking platform for personal finance
£60k - £75k/yr
Mid, Senior
London, UK + 1 more
More locations: Remote in UK
The role can be based in the London office, but distributed working within the UK is also open, with ad hoc meetings in London.
Monzo is a digital banking platform that focuses on providing a convenient way for individuals to manage their finances through a mobile app. The app allows users to track their income, spending, and savings easily. It includes features that help users save money, such as automatically setting aside a portion of their paycheck or rounding up payments to the nearest dollar. Monzo generates revenue from interest on customer deposits, fees for certain services, and interchange fees from card transactions. It also offers overdrafts and personal loans. The platform provides real-time balance updates and instant spending notifications, helping users stay informed about their finances and ensuring timely bill payments. With over 8 million customers, Monzo stands out in the fintech sector by catering to the demand for mobile-first banking solutions.
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
Leading digital bank Monzo today announces the appointment of Andy Smart to the role of Chief Product Officer (CPO) as it continues to build the one app customers turn to to manage their entire financial lives.Andy joined in 2016 as one of Monzo’s first 20 employees and during his career has served in several significant positions across the technology platform including being appointed Monzo’s first Vice President of Engineering, and acting as Interim CTO. As VP he was responsible for leading the team of more than 200 engineers and managers across all products including personal banking, subscriptions business banking, borrowing and payments. Most recently Andy was General Manager of Wealth, where he led the development of Monzo’s hugely successful instant access savings and investments products and more recently Monzo Pension.In the last 12 months alone, Monzo has launched multiple new products and features as it progresses on its ambition to build the one app that solves all the money needs of its customers. Today, it has more than 11 million customers who can budget, save, borrow, invest, track their mortgage and consolidate their pensions all within the Monzo app – with much more to come. These products are alongside a growing suite of never-been-seen-before security features like Call Status and Known Locations that help to protect customers’ money.TS Anil, Group CEO of Monzo, said: “Andy has made a huge success of every role he’s had at Monzo, keeping the customer at the heart of his thinking and strategy every step of the way. As CPO he’ll continue turning our ambitions into a reality, putting game-changing products and features into the hands of our 11 million customers as we take Monzo to new heights.”Andy Smart, Monzo’s Chief Product Officer, said: “Monzo set out to change the face of finance by bringing the best of banking and technology together, and we’re doing just that
Monzo, the UK’s largest digital bank with more than 11m customers, today announced they are removing the waitlist for their Under 16s product – making it available for any eligible parents or guardians to sign their kids up. U16s is a free account designed to bring the best of Monzo’s money management tools to children aged 6-15.Bringing Monzo magic to a new generation, the account gives children the opportunity to experience money firsts like saving, budgeting, receiving pocket money or using a card to pay in a shop, all while giving parents or guardians complete control and visibility to ensure they’re managing their money safely.This latest announcement includes two new features added to the product since launch:Additional parent access: Parents/guardians can now add another adult as an additional family member on the Under 16s account. This means two of them can look after their children’s accounts. Additional family members can see the child’s spending, add money, and even freeze their card.Friends & family can gift money: Parents can share a unique payment link with friends and family that they can use to send money directly to the Under 16s accountOver 300,000 accounts have been set up since launch, featuring:Free for every child: No sign-up, top up or subscription fees and no fees for spending abroadLoved Monzo features: Children can set savings goals, organise money in Pots, receive scheduled pocket money payments and customise their Monzo appNeon Monzo card: Kids choose their own pink, yellow or blue neon cardVisibility and control for parents: Parents have the child’s account linked to their own, and can choose to be notified when their child spends. Parents can set spending limits and use customisable controls to turn cash withdrawals and online payments on or off.In-app education: Guidance on money topics customers want their children to learn about, like saving, budgeting and spending safely onlineAccount grows with you: Children can graduate to a 16-17s account and again to a full Monzo account when they become an adultResearch from Monzo reveals that of the parents who discuss finances with their children, half of them (50%) said they want their children to understand how to save pocket money, with (42%) saying they wanted their children to understand how to create a budget.Parents or guardians can now sign up for Monzo for Under 16s here:https://monzo.com/current- account/under-16s
Nordic challenger bank Lunar is launching a paid offshoot app for children and teenagers and says it can capture hundreds of thousands of customers. The Danish challenger bank, which is ten years old, is launching Lunar Youth, designed for children and teens aged between seven and 17. In the UK, challenger Monzo is also launching a child-friendly app.Lunar Youth features include an option for children and teens to design their own card and app theme; digital tools, such as an overview of spending, real-time insights, spend categorisation and budgeting tools. The app is linked to a parent's bank account, and parents can set budget limits, monitor transactions, and access spending insights.It also includes category restrictions in areas such as crypto, gambling, and adult content while all online purchases require parental approval.Ken Villum Klausen, founder and CEO of Lunar, which has over 950,000 customers, said:"We’re building a digital bank for a digital generation—giving kids the tools to explore, learn, and build confidentially managing money, step by step, in a safe environment. We’ve been around for nearly a decade, and the customers who joined us in the early days have grown up with us—many of them now becoming parents themselves. "Lunar Youth isn’t just about kids; it’s about continuing to be the go-to bank for our users as they move through different life stages—whether they’re opening their first account as teenagers or helping their own children take their first financial steps."Lunar Youth is offered to users on some of Lunar’s paid tiers, priced at around four euros a month
In 2021, Monzo introduced "Monzo Flex," a buy-now-pay-later product, and has plans to launch pension services, allowing customers to consolidate their pension schemes within the app.
Bhatia joined Monzo in 2020 from American Express, where she spent 15 years in a variety of roles including GM head of Europe, global merchant services.