Pernille Nielsen

What’s in store for the future of payments?….. Well I’m not sure of the right answer but if todays event is anything to go by then Buy Now Pay Later will play a significant role. Some really interesting talks today from experts from the Payments sector at the FinTech North’s Future of Payments event, with BLNP being the main topic for discussion. I’ve got to admit I had some misconceptions about BNPL being designed for people in their young 20s paying for fast fashion. But Danielle Reed from Klarna tackled some of these misconceptions head on highlighting that Klarna’s average user is actually 37. It’s also interesting to see James Jackson and the team at Bumper UK leverage BNPL within the automotive industry to enable consumers to drive safer cars. The Motor Ombudsman found 33% of drivers were planning missing their annual service due to cost of living pressures. By offering interest free payment plans, Bumper is enabling more drivers ensure they can afford to keep their car safe without taking out credit loans. It’s unclear how future regulation will impact the BNPL industry but some further regulation could be beneficial in supporting some of the more vulnerable consumers that use BNPL services.

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Want to boost your online sales? 📈 Download our small business guide to online marketplaces to discover the latest trends, how to form a plan, and where to make sales 🚀 Get the free guide now ⤵️ https://ow.ly/7nIv50Rp9mL Monzo Bank #StartUpUK #marketplaces #onlinemarketplace #smallbuisness

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⚡How to provide faster payouts to your customers SumUp offers its UK merchants 7 am next day payouts. Wise processes 55% of its payments in less than 20 seconds end-to-end. What about you? Payout speed is an increasingly important dimension for payfacs and broader payment companies' customers. However, from accessing the right payment schemes to accelerating internal processes, providing instant payouts is far from trivial. Explore the main elements to consider in this article: https://lnkd.in/dnPDj7Sz #payouts #payments #schemes

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Monzo Bank has just unveiled its FY24 results. 📄 It has smashed profitability, tripled revenue, and added millions of new customers. But what's driving this meteoric rise? We break it down: 📈 Profit Breakthrough: First Full Year of Profitability A profit before tax of £15.4M showcases effective cost management and revenue diversification. This achievement not only underscores operational efficiency but also validates its sustainable business model. 💸 Revenue Growth: A 2.5x Surge This 2.5x growth is a testament to the bank’s strong market momentum and successful monetisation strategies. 👥 Customer Expansion: 31% Growth in User Base This growth was fueled primarily by organic channels, with 46% of new customers joining through word of mouth, highlighting exceptional customer satisfaction and brand loyalty. 💳 Card Spend: Enhanced Customer Engagement Card spend rose by 42% to £47.8B, reflecting higher customer engagement and trust in Monzo for daily transactions. This increase signifies that customers are increasingly relying on Monzo for their everyday financial needs. 💰 Deposits: 88% Surge This surge underscores growing customer confidence and their reliance on Monzo as their primary banking institution. 📊 Asset Growth: Doubling of Total Assets Monzo’s total assets nearly doubled, rising by 94% to £13.0B. This expansion likely includes a substantial increase in the gross loan book, reflecting Monzo’s enhanced lending activities and expanded service offerings. __________________ 🚀 Monzo's vision for growth remains robust. They anticipate hitting 11 million consumers by next year, driven by potential ventures into mortgages and deeper business lending, areas where Monzo sees significant headroom. The strategic market entry into Europe and the US further underscores its ambition to scale globally. 𝐇𝐨𝐰 𝐖𝐡𝐢𝐭𝐞𝐒𝐢𝐠𝐡𝐭 𝐑𝐚𝐝𝐚𝐫 𝐌𝐞𝐦𝐛𝐞𝐫𝐬𝐡𝐢𝐩 𝐔𝐧𝐥𝐨𝐜𝐤𝐬 𝐌𝐨𝐫𝐞 𝐅𝐢𝐧𝐭𝐞𝐜𝐡 𝐈𝐧𝐭𝐞𝐥 Deep dive into industry trends, competitor strategies, and emerging technologies. Learn from the winning plays of leading companies like Apple, Stripe, Starling Bank, OakNorth Bank, and Toast. Steer your business course towards the future with the data and insights you need to succeed. Become a member of WhiteSight Radar and navigate the ever-evolving fintech landscape with confidence. 👉: https://lnkd.in/g6J3ngnZ #fintech #digitalfinance #digitalbank #profitability #Monzo

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Are banks evolving in line with their customers? With 22% still sometimes needing to use a desktop or call their bank to complete tasks, there is still work to do. We surveyed over 1,700 UK banking app users to explore what they think about the apps they use. We’ve not only presented the findings but given practical tips and ideas that you can apply immediately. It’s time for less talk and more apption. Download our latest report here: https://bit.ly/4d6fwnH

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Want to become your own boss? Download The StartUp Kit to access all the tools and tips you need to succeed: ✅ Learn the base ingredients required for a start-up ✅ Support your idea with a plan ✅ Start making sales Download now ➡️ https://ow.ly/lNtg50Rp7Ne Monzo Bank #StartUpUK

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While reading an article on the average savings by age in the UK, I was astonished to learn that individuals aged 25-35 have average savings of only £500-£5000. Given that the average annual income for this age group is around £32,000 and considering the high cost of living in the UK, it's apparent that savings are a significant concern. Moreover, a large portion of our society lacks proper information on investing and saving assets securely, which is crucial for building a financial safety net over time, especially in our dynamic and fluctuating economic climate. The article below has some solid information about some of the top savings accounts for 2024. Additionally, it would be helpful to invest time in learning more about cash ISAs and index funds since I have personally invested in them and find them to be a great option.

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Monzo's proposed new features for fraud are amazing 📌 Known locations or "leave your money at home." Places you're comfortable moving large amounts of money but fraudsters are unlikely to access 🤝 Trusted contacts. If a large transfer is requested your trusted friend must approve. Hugely helpful if your phone is stolen or for vulnerable folks. 🔐 Secret QR codes. Print out a QR code and keep it in a safe place to scan when needed.If these aren't available the fallback is step up KYC. All of this is possible with the right user device signals + some imagination Kudos to our friends in the fraud squad 🐟 trying to make things a bit better every day

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Ideally, payments get processed with the press of a button, no different from dialing a number and knowing, without having to think about it, that the right person will answer. Customers making payments expect something simple and effective. But it’s a challenging environment for fintechs as they try to deliver that experience, with funding drying up and regulators coming down on them. On the upside, it’s also a vibrant market. Demand is expanding, as more and more businesses seek to make payments across geographic boundaries and platforms. Read more: https://ow.ly/Yi8h50Sfs4B #payments #AML #fintechs #paymentsystems #regulations

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The trade-off between security and friction is a delicate one. Too much friction annoys customers and leads to complaints both directly to the provider and posted on social media, affecting the provider’s reputation. It’s time to get the balance right. More on this here: https://hubs.li/Q02szsjX0

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The latest episode of For the Love of Finance is all about building a high-performing finance team from the ground up. Julie Oey, VP of FP&A at Gelato (ex-Runa, Monzo Bank) shared her insights on: • Finding top talent for growing finance teams • Scaling top tips – why you should always think 12 months ahead • Two essential steps to manage SaaS & cloud costs ➡ Swipe for some key takeaways from the episode! Link in comments for the full episode 💜 #finance #financecareers #financeleadership #fintech #saas #scaling #cfos #cloudcosts

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It's hard not to notice almost everyone with a Monzo card. Especially after surpassing 9m personal customers, 400,000 business customers, and reporting their first year of profitability with 2.5x growth! Well done Monzo Bank. 'I’ve never believed in the idea that a company has to choose between being either mission-oriented, or focused on business outcomes. FY2024 proved Monzo is doing both - and that our strategy of placing the customer at the heart of everything we do is working at scale.' Monzo Bank CEO TS Anil https://lnkd.in/ezx2CNr4

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Digital and mobile banking will revolutionize the way we handle our finances not only as individuals but as companies as well.

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🚀 Exciting news for freelancers in fintech! The demand for freelance talent in London has surged by a whopping 61.2% year-on-year. This boom is driven by increased tech investments and digital transformations in financial services. 📈 Top skills in demand include AI, machine learning, and data analytics. Interestingly, risk and compliance roles have skyrocketed by 86.5%. 🌟 It seems like now is the perfect time for tech-savvy freelancers to dive into the fintech sector. 🌐