Another UK attacker...think we need 2 more attackers and we have more attackers than incumbents....traction of the attackers to be seen
We already knew that GoCardless co-founder Tom Blomfield was working on a new U.K. banking startup, but now, thanks in part to a noisy series of Tweets from investors, developers and the company’s own Twitter account, more details have emerged. Dubbed Mondo, the startup is described as a “full stack” and mobile-first bank, in reference to the fact that it isn’t simply a mobile app piggybacking existing banking software or an existing bank in order to offer a better User Experience. Instead, my understanding is that the company’s plans and accompanying technology is considerably more ambitious. In addition to applying for a full banking license in its own right — meaning that it will be able to generate revenue through lending out bank deposits — Mondo is busy writing its own full stack banking software from scratch.