Monzo, founded in 2015, offers current accounts to more than 4 million customers. It provides a number of financial services to consumers, ranging from current accounts to saving pots and access to loans. The startup has predominantly relied on the wild popularity of its "hot coral" debit cards and easy-to-use app to win new customers, over conventional marketing.
As the coronavirus crisis deepened, executives agreed to take a variety of paycuts until 2021 and their situation is unchanged, Business Insider understands.— but its losses ballooned to £115.4 million , twice that of 2018. The company has warned that the pandemic is a threat to its business. The challenger bank's cofounder Tom Blomfield moved from CEO to president earlier this year and took a 100% salary reduction as part of the company's coronavirus measures.
Blomfield's old job has been taken up by TS Anil, the Visa veteran who joined Monzo as US CEO in February.
SAI Love a challenger. Are they having an impact in the UK? banking retail
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Look inside President Trump and Larry Ellison's relationship - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. what's going to happen to these corrupt deals when Trump is defeated.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Inside Sunrun and Vivint Solar's historic $3.2 billion deal - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Gold shortages are here and increasing. Sandstorm Gold is going to have INCREDIBLE cash flow for next decade. $1800+ Gold spot price certainly does not hurt!
Source: BusinessInsider - 🏆 729. / 51 Read more »
Inside Orum House, the Bel Air mansion shaped like a propeller: photos - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Wowed by this house!
Source: BusinessInsider - 🏆 729. / 51 Read more »
Inside Benetti's 353-foot hybrid gigayacht 'Luminosity' - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. I may be mistaken but I think it's currently docked in Portofino, Italy. My offer, 1 Bitcoin
Source: BusinessInsider - 🏆 729. / 51 Read more »
Alibaba Declares Full Recovery From COVID-19 With Q1 ResultsChina’s e-commerce leader Alibaba Group continues to benefit from China’s digital transformation, which has been accelerated by the pandemic.
Source: wwd - 🏆 24. / 68 Read more »