We Won!

Great news! Monese has won the Horizon 2020 award for research and innovation. Monese has been awarded €1.125 million (£900,000) to support us in our endeavour to provide local bank accounts across the EU in a transparent and low cost manner.

Horizon 2020 is the biggest EU research and innovation programme ever, and is a core part of The European Union’s blueprint for smart, sustainable and inclusive growth and jobs. The goal of Horizon 2020 is to ensure Europe produces scientific and technological breakthroughs, discoveries and world-firsts by supporting European innovators in taking great ideas from the lab to the market.

Horizon 2020 praised Monese’s efforts in advancing technology and innovation in finance, noting Monese’s development of ‘a mobile-first banking service that validates customers’ identity fully online, enabling access to banking for customers with poor credit history or no formal proof of address.’

Some other of our commended innovations are:

Fast Account Opening – You can open your Monese account in as little as 120 seconds, using only your smartphone and European passport or national i.d card. That’s it, nothing else is needed.

Instant Transfers – You can send money between Monese accounts instantly, in real-time, no waiting or delays.

Cheap Currency Transfers – When you make currency transfers through our app it will cost only 0.5% above the mid-market rate, one of the cheapest available on the market.

Insta-balance feature – Monese’s newest feature lets you view your balance instantly (and securely) without opening the app, as long as you are logged in. All you need to do is open the notifications drawer on your smartphone.

In addition to our fantastic Horizon 2020 win, we have also been voted ‘Best Challenger Bank’ at the European Fintech Awards! Check out our Facebook page for more information.


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