Now that the festive holidays are upon us, I want to thank you for all the support you’ve given us this year. I’d also like to share some of the ways we’ve made Monese bigger and better in 2018, and give you a sneak peek at what’s coming up in 2019!
Here at Monese, we are building a new kind of banking service - one that is unrestricted by national boundaries or financial borders. A banking service that makes it easier for you to live, study, work, travel or retire anywhere in the world; that is fast and keeps people connected; one that speaks your language wherever you happen to live.
We expect next year to be even more exciting and we can’t wait to get going!
This year was a transformative year for Monese that saw us expand our operation in many ways. We also celebrated our 5th birthday, which gave us a great opportunity to look back and reflect on what we have achieved so far...
Everyday thousands more are joining Monese. In 2018 our number of sign-ups trebled, and we’ll soon have one million people signed up to Monese. Most of our customers use Monese as a primary account and trust us with their salaries with 75% of our incoming funds being salary payments - this tells me that Monese is meeting a real need.
A few months ago, we launched Monese Business, growing our offering to customers and businesses across the UK and Europe. Monese Business can be set-up in five minutes and comes bundled with personal banking in one simple-to-use app. Opening a business account can be a notoriously time-consuming and complicated process, especially if you’re not a local. It can sometimes take weeks, or even months, to open a business account, and Monese Business speeds up and simplifies this process no end.
We know that life moves fast for entrepreneurs and that their work often takes them all over the world. They need their banking to be fast, connected, and transparent. Business banking shouldn’t slow down anyone’s ambitions. Rather, it should be with them at every step, wherever they are in the world.
We also introduced a whole host of new in-app features, which have included Pay Your Contacts, 3D Secure support, Smart Transaction screens and Recurring Payments (known as standing orders in the UK) as well as new currencies and card designs.
Monese customers are able to bank in 12 languages as supported by the Monese app - and we’re not stopping there! We have plans to introduce many more over the course of 2019. In addition, we also provide in-app customer support in 28 languages. So, If you ever need to contact us, there’s a good chance we speak your language.
Earlier in 2018 we introduced the Monese Premium plan. Designed with the high-end users in mind, we have removed all transactional and foreign exchange fees, providing a truly exceptional and frictionless mobile banking experience. We can confidently recommend Monese Premium as the best package for those who travel frequently - whether it’s for business or pleasure. If you’re travelling for three months around the globe, or spending two weeks on holiday, there’s no reason to worry about restrictions on withdrawals or charges on exchange rates. Monese Premium represents the best value banking solution in terms of sending large amounts of money abroad. Everything is included in the cost and capped at a monthly fee - making for an awesome banking experience that is cost effective, stress-free and completely unlimited.
Monese is one of the fastest growing FinTech companies in Europe, which is evidenced by the investors it has secured in its latest financing round. In September, we closed $60 million of additional financing from Kinnevik, PayPal, International Airlines Group and Augmentum Fintech. This investment is being used for both product development and international expansion, and it will allow us to make our service accessible to many more customers. These investors bring an unparalleled level of expertise in their field, and are helping guide us as we navigate the next stage of our growth. We were also recently named by the UK’s Sunday Times’ Fast Track as one of 10 ‘Disruptors to Watch’ in 2018.
We recently also opened two new offices in Lisbon and Berlin, and now have over 200 people in the Monese team in total working across our offices in the UK, Estonia, Portugal and Germany.
We have been blown away by the support you have given our app on multi-language customer service sites like Trustpilot where you have given us a great 9.1/10 rating, we are one of the highest rated banking services companies on the site! We’re never complacent and the feedback you have given us this year is very important to us.
We are already working on the new products and features that are coming straight to your Monese app in early 2019.
We’re working on introducing additional payment channels. We know from our conversations with customers that a lot of you have requested these features and would welcome both the convenience and extra security they offer.
We will also introduce a range of money management tools in early 2019, so you can enjoy even more control over your finances from within your Monese app.
Our customers can fund their accounts via debit card top-ups, bank transfers or cash deposits - we already have more than 40,000 cash deposit locations available. We are soon rolling our more ways to top-up in Europe, and have will soon be introducing support for the SOFORT payment method - as frequently used in Germany and Austria.
We also plan to host many more customer events across Europe. We really value your feedback and meeting customers face-to-face to understand how we can make even more improvements to our banking service. Expect to hear more from us in the New Year!
Finally, we know that 2019 is going be even better than 2018. We’re growing in every way, and that means we are hiring. So, if you think you’ve got what it takes – or you know some brilliant people who want to help build a smart and globally connected banking service – we’re recruiting for the following roles right now.
At Monese we are working to create the world’s most connected and portable banking service. We believe banking should be smart, inclusive and built around you.
Thanks again for all your support over the last twelve months, we really do appreciate it. We can’t wait to share more updates, products and features with you in the coming months.
Here’s wishing you all a very happy New Year!
Over 1 million people have now signed up to Monese – and we couldn’t have done it without you!
We're launching a trial programme with the Post Office, to help those without a residential address get access to a Monese account
We’ve teamed up with Inclusion Signpost to tackle financial exclusion in the UK