Property News · June 29, 2015

Digital banking: Mondo hopes to become the Google or Facebook of the sector


Tom Blomfield’s Mondo is one of a number of new startups hoping to tap into customers’ increasing use of digital technology as branch use falls steeplyIt was 21 May, and a historic moment for Tom Blomfield. Stood at a cash machine in Clerkenwell, central London, the ambitious young entrepreneur withdrew money from a brand new account with a new bank at which he was the only customer.Five weeks later, Mondo has 30 customers testing its prototype account. Blomfield – a former management consultant now on his third business startup, all before the age of 30 – said a crunch meeting with the Bank of England on Wednesday would determine whether Mondo gets the formal go-ahead to apply for a banking licence. The full process would take another six months. Continue reading…

Source : theguardian.com
Read more…Digital banking: Mondo hopes to become the Google or Facebook of the sector

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