A big plus is that the backend stack is being built from scratch. The problem is what’s brand new now can in the next 5 years be obsolete. So I know Tom has made a few comments about the mainstream banks regarding them having old systems. (Which they do.) How are the team going to stop their brand new systems being spoken about in the very same way in the next 5 to 10 years?
This blog post may be prove helpful : https://monzo.com/blog/2016/09/19/building-a-modern-bank-backend/
Essentially our backend evolves constantly. It’s not like we spent a year building something and then that’s it, nothing gets changed ever again! Any of our engineering team can provide more details, but largely speaking, the stack was designed with constant evolution in mind, which is the same for many modern tech startups, but has generally never been the case before for a bank.
Thanks Simon for your help.