Business Banking and Merchant Enrichment

I’m not in the market for a business account - but I was thinking about the merchant enrichment process (and its current issues) and got to thinking whether it would be a useful feature in a Monzo business account for companies to manage/curate their brands in Monzo. So, when you set up a business account, you’d have the ability to upload a logo, set an emoji, suggest the ‘friendly’ name in the app.

This could both differentiate the business account generally, help create a virtuous circle between personal and business accounts - as well as eradicate some of the merchant enrichment pain. Heck, create an open API on top of it and you could even feed competitor banks with your business banks’ logos (not as strange as it might seen).

Any thoughts?


I think you could spin Merchant Enrichment out as a Fintech on its own purely focusing on backend Merchant stuff especially as it seems all fintechs are going down that route


You read my mind! :wink:

(Although I’m now wondering if you could really monetise it in the long-term. Maybe a not-for-profit or something…? It’s effectively open data - maybe Companies House could give it a go?!)

Hmm the monetisation would be a private message :wink:
But I reckon what you would need to focus on would be
Twitter Instagram and web scraping for logos
Names-NLP would probably work
Location data and having it synced to the Merchant transaction just for proof etc.
Support to change things(preferably instantly)
I personally would include PDF and photo receipts.
I mean its open source data but packaging it into one easily to use API that’s the difficult bit

Subscriptions from the companies that wish to make use of your API to enrich their apps :stuck_out_tongue:


Plus people and companies are lazy :joy:. So they would pay for the convenience


We’re definitely on the same page here.


Amazing! Excited to see what you come up with. :eyes:

A kind of Gravatar for brands? Or am I misunderstanding?

I personally run a business helping small businesses establish their online brand/identity and I am looking forward to signing up to a Monzo Business account. Having already gone full Monzo personally, I think this is something I see Monzo doing really well.

I have a question for Monzo though, and that is as I am in direct contact with new start ups I am in a great position to promote Monzo business banking and would be interested to know if this is something Monzo would support?

I am potentially going to start a Ltd company, I am actually looking at my logo and thinking of a full web site branding as the business includes several components but are all integrated, so seeing this post was actually thinking that if I setup a business account would love to submit my own business logo :wink:

Hey Martin :wave:

We’re a little too early on our business banking journey to talk about this right now, but we’d love to chat a little later down the line :blush:

You’ll be able to set your business’ logo up in your Monzo Business Account in the future!

If you’re a merchant (i.e. people are using their card to pay you for your products), once you’ve set up your business, just send us your Twitter handle in Monzo Chat and tell us the name of your business, and we can make sure it all looks perfect in the Monzo app for other customers :wink:

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Will do :wink:

On a slightly different note as if I do setup a limited company, I was made aware by a mate that a 3rd party company registered the name for them and they joined Barclays business banking with a £50 credit to the account.

Any chance that Monzo could registered a company for you and open a business account?

This is also something we could do in the future! We’ve definitely discussed it :eyes:


Well get a move on you have a month I reckon before I do it :joy::joy::joy: