Monzo

Backend Engineer III

Cardiff, Wales, United Kingdom

£75,000 – £105,000Compensation
Senior (5 to 8 years)Experience Level
Full TimeJob Type
UnknownVisa
Financial Services, BankingIndustries

Requirements

Candidates should possess strong experience working as a backend engineer, with a demonstrated enjoyment of learning new things and a willingness to collaborate with diverse teams including product managers, marketers, and designers. Formal qualifications or degree requirements are not requested for this role.

Responsibilities

As a Backend Engineer III at Monzo, you will collaborate with your team to build and support a specific part of the Monzo platform, working within a squad and contributing to the wider collectives such as Core Banking, Business Banking, Wealth, Borrowing, Growth, Payments, Platform, Fincrime, and Security & Expansion. You will contribute to the design and development of the in-house banking platform, addressing challenges across various areas including products, infrastructure, security, payments, and finance.

Skills

Backend Development
Team Collaboration
Learning Agility

Monzo

Digital-only banking platform for consumers

About Monzo

Monzo operates as a digital-only banking platform focused on providing a modern way for individuals to manage their finances. Its main product is a mobile app that allows users to track their income, spending, and savings easily. The app includes features that help users save money, such as automatically setting aside a portion of their paycheck or rounding up transactions to the nearest dollar. Monzo generates revenue through interest on deposits, fees for certain services, and interchange fees from card transactions, as well as offering overdrafts and personal loans. What sets Monzo apart from traditional banks is its real-time balance updates and instant spending notifications, which help users stay informed about their finances. The goal of Monzo is to provide a convenient, mobile-first banking experience that meets the needs of its growing customer base, which has surpassed 8 million users.

Key Metrics

London, United KingdomHeadquarters
2015Year Founded
$1,856.7MTotal Funding
LATE_VCCompany Stage
Fintech, Financial ServicesIndustries
1,001-5,000Employees

Benefits

Competitive salary
Flexible working hours
Work from home
Stock options
32 days of paid vacation and public holidays per year
Health insurance
EAP
Learning budget
Home office stipend
Paid parental leave

Risks

Monzo breached UK banking regulations, risking reputational damage and fines.
Expansion into Europe poses regulatory challenges and potential licensing delays.
Reliance on digital platforms makes Monzo vulnerable to technological disruptions.

Differentiation

Monzo offers real-time spending updates and categorized transactions via a mobile app.
The 'Pots' feature allows users to set aside money for specific purposes.
Monzo Plus provides premium features like custom card designs and travel insurance.

Upsides

Monzo secured $400M in 2024, valuing the bank at $5 billion.
The partnership with SignLive enhances accessibility for Deaf customers.
Expansion into Europe in 2025 could significantly increase Monzo's customer base.

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