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asherwood

78 karma · joined October 24, 2016

[ my public key: https://keybase.io/alexs; my proof: https://keybase.io/alexs/sigs/G6RI5utExv9mXjmK5meaE4zn0V1KHxSjNNILICkESn0 ]
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asherwood··on Monzo Lost £6.7M Last Year: And This Should Terrify Traditional Banks
> With that investment they're building and marketing a disruptive financial services brand. They're creating all of the technology to support a credit card and current account both in the back end systems and front end mobile apps. They are meeting all of the legal and regulatory requirements. They're providing pretty good customer service and assuming all of the infrastructure costs associated with growing and running a company etc.

In other words, they've built a bank with that 6.7m (+ 1.4m the year before) & they're about to launch current accounts, while the legacy banks struggled to add Touch ID protection to their mobile apps in the same time period. You don't think that's significant?

asherwood··on Monzo Lost £6.7M Last Year: And This Should Terrify Traditional Banks
They're very different, they don't have a banking license, don't want one & are mainly focused on international payments, rather than current accounts & an open marketplace.
asherwood··on Building a Bank with Go [video]
This might help, Monzo published a blog detailing their technology stack a while ago -

https://monzo.com/blog/2016/09/19/building-a-modern-bank-bac...

asherwood··on Prototyping a connected piggy bank
There are but it's not long until Monzo is a bank & they will have an open API so this type of integration should be straightforward.

https://community.monzo.com/t/status-of-the-api/5497/4?u=ale...