Banking Licence - with restrictions - tick


( related to Monzo CEO, Investor in Monzo ) #1

Good to hear that all the Mondo teams hard work is paying off - hope there aren’t too many sore heads from the partying :wink:


( surohpotsirhC) #2

It’s official as it’s on the Trello board :tada:


(Andy) #3

Congratulations!!! :laughing::laughing::laughing:


(Alex Sherwood) #4

For anyone wondering where the card on the Trello board with this update is Banking License with Restrictions (AWR).


(Chris Richards) #5

Awesome news, congrats!


(Nigel Laverick) #6

Wonderful news :grinning::smile::grinning::mondo:


(Ben) #7

Woo hoo! No entirely sure what this means, other than progress. Is there anything extra that we can get now, as avid users?


(Rika Raybould) #8

Great to hear! :smiley: :tada: :tada:


(Kal Mba) #9

WOOPP WOOPPP!!:tada::tada::tada::tada::tada::tada::tada:
Sooo close to saying goodbye to Barclays!!
Great work team :mondo:


(Josh Bray) #10

Great news guys ! Well done to all involved


#11

Awesome guys :slight_smile: :slight_smile:


(Stuart Cameron) #12

Will this bring the announcement of the new name…


(Sebastian Mauer) #13

Boom: https://register.fca.org.uk/ShPo_FirmDetailsPage?id=001b000002syvKiAAI

Guess nothing much will happen until the Mobilisation process is over:

In carrying out the regulated activity of accepting deposits, the aggregate amount of deposits held by the firm at any time and may not exceed £50,000. Deposit has the meaning given in Article 5(2) of the Financial Services and Markets Act 2000 (regulated Activities) Order 2001. [Note: this restriction is imposed as part of the PRA and FCA mobilisation process for newly authorised banks. For more information on mobilisation see the PRA and FCA websites


(Ben) #14

Focus FS… hum… wonder what the new name will be :thinking:


#15

Thats not their new name.


(Stuart Cameron) #16

Mondo is a trading title of Focus FS Ltd


(Ben) #17

That sorts that then. Thanks @stuart!


(Josh Bray) #18

At least it’s a step in the correct direction. They can work on getting an unrestricted licence.


(Alex Sherwood) #19

Nice bit of PR in the Wall Street Journal Digital Start-Up Mondo Gets Banking License.

Mondo will be able to offer current accounts in early 2017, after the license’s restrictions are lifted.


(Caleb Wong) #20

Congrats on being a bank!