This multi award-winning and completely mobile banking account is now expanding into Europe. Based in London, fintech firm Monese appeals to the culture of nomadic work as it empowers people to "travel, live and work freely, anywhere in the world." This service will also appeal to migrants and expats. Offering an instant account to the smartphone-addicted, Monese makes it easier to manage personal finances on the go.
The company already allows you to instantly open a UK current account without requiring credit checks or proof of address. Now, you will be able to open a 100% mobile banking account in the European continent as well, making it easier to send funds to other countries safely. The account comes with a contactless debit card too (which is synced to the Monese app).
What's Driving This Trend
- Mobile Banking
- Monese is expanding its mobile banking service in Europe and providing an opportunity for other firms to develop user-friendly, on-the-go financial apps.
- Virtual Nomadic Banking
- Monese's mobile banking account is a disruptive innovation opportunity for other fintech firms to capitalize on the trend towards nomadic work and remote lifestyles.
- Instant Account Opening
- Monese's instant account opening feature is a trend among fintech firms looking to provide quick and easy access to financial services.
Who This Affects Most
- Fintech
- Fintech firms can leverage Monese's expansion into Europe to develop their own mobile banking accounts and compete in a growing market.
- Banking
- Established banks may take cues from Monese's mobile banking account to improve their own services and reach a wider customer base.
- Migration Services
- Monese's mobile banking account can be a valuable addition to migration services, allowing migrants and expats to instantly open bank accounts and transfer funds internationally.
