8.6 C
New York
Sunday, October 25, 2020
Tags Monzo

Tag: Monzo

Monzo launches new Premium account and offers its first metal card

Monzo bank has just launched its second premium account in the last three months as part of an effort to increase revenues and cover deep losses.

Monzo reached 50,000 business accounts since launch in March

Monzo spent 12 months building a business account for SMEs that has been launched March this year and managed to attract 50,000 customers according to AltFi.

Monzo introducing new fees for services

For some customers, Monzo bank cash withdrawals and card replacement will be met with new charges from 31 October 2020 as Monzo introduced new rules.

Monzo Plus has attracted about 50.000 users since its launch last month

The British challenger Monzo bank has relaunched its premium ‘Monzo Plus’ account with a £5/month fee. And their customers embraced it.

Which challenger bank model is going to survive?

With the annual reports from Revolut, Monzo and Starling it became apparent that challenger banks were losing money despite the rapid growth in 2019. Which models are viable to profit and which not?

Monzo capital requirement was raised by the Bank of England

Monzo bank is now obliged to have a capital worth of 13.6 percent of its risk-weighted assets to be protected against potential losses.

Challenger vs. incumbent banks, who is going to win the customer over?

Revolut managed to raise $80 million from TSG Consumer Partners while Monzo bank’s losses jumped from £47.2m to £113.8m. CFTE has done a research among its employees to see if challenger banks stand a chance to ever replace the incumbent banks so customers use them as their primary account.

Monzo bank future in doubt as losses double

Monzo bank’s losses jumped from £47.2m to £113.8m amid a hiring spree, marketing and US expansion.

Monzo is finally launching its premium ‘Plus’ subscription account

British challenger Monzo bank has relaunched its premium 'Monzo Plus' account with a £5/month fee.

Monzo’s new open banking feature is called ‘easy bank transfer’

Monzo bank has been recently working on a simpler way to move money into the Monzo account from other major UK banks.
- Advertisment -

Most Read

The Everly Summary (weekly TOP5 news)

Welcome to Everly.eu’s weekly summary. Let’s see the most important news we have covered during the last week in a TOP 5 list!

Lunar, the Nordic challenger bank, raises €40m in Series C

Nordic challenger Lunar has managed to raise another €40 million in funding and is about to launch a BNPL product.

Gohenry launches new account designed for teens

Money app gohenry, has released pocket money account for customers aged 13 to 18 years.

Curve Credit will be powered by Thought Machine’s Vault

Thought Machine is a cloud-native core banking technology company and it has been selected by Curve to power it's new 'buy now, pay later' feature, the Curve Credit.