Mondo in recruitment drive for senior executives
UK-based challenger bank Mondo is on a recruitment drive to find senior executives.
Mondo, which positions itself as a “mobile first” bank, will be offering a contactless debit card paired with a mobile banking app to its customers.
As part of this ambition to end the “tyranny of legacy banks” it is advertising for two android engineers; and a number of senior executive positions:
- Head of financial crime;
- Head of lending;
- Head of risk;
- Head of security.
Building the bank
It also recently partnered with Thames Card Technology for debit card production and personalisation. Beta test cards will be issued to consumers this year.
In terms of its mobile app, features include intelligent notifications, instant balance updates and financial management.
However, it did have issues with the app when customers unsuccessfully tried to join the “virtual queue” to sign up for the Mondo card.
The debit cards are being issued to consumers in waves. The first 2,000 alpha-cards are already in circulation working alongside the Mondo app and another 4,000 are expected to be commissioned.
Although Mondo is yet to obtain the full banking licence and open for business, it has been valued at £30 million in a recent £6 million funding round. It secured £5 million from Passion Capital, a London-based venture capital fund (this fund already invested £2 million last year).
And £1 million was raised via a crowdfunding campaign on Crowdcube. It was so popular that the Crowdcube website crashed. The bank raised the required £1 million in 96 seconds, making it the fastest crowdfunding raise in history at more than £10,000 per second. More than 1,800 individuals invested in Mondo.