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

Position Overview

  • Location Type: London / UK Remote
  • Job Type: Full-time
  • Salary: £75,000 - £105,000 + Benefits
  • Company: Monzo

About Monzo: Monzo is on a mission to make money work for everyone. They've evolved from a prepaid card to offer a comprehensive suite of banking services in the UK, including personal and business accounts, joint accounts, accounts for young adults, and credit cards. They also provide savings, investment, and pension consolidation options. Monzo focuses on solving customer problems and creating magical moments through financial education and award-winning customer service.

About the Engineering Teams: Monzo has approximately 400 engineers building their in-house banking platform. They have ambitious goals for the future, and technology is a key driver. Engineers collaborate across various disciplines to address challenges related to products, infrastructure, security, payments, finance, customer operations, financial crime, and data. They contribute to open-source software and maintain a blog to share their work.

Requirements

  • Strong experience working as a backend engineer (specific qualifications not required).
  • Enjoy learning new things.
  • Ability to collaborate effectively within a team.

Responsibilities

  • Collaborate with a team to make a difference to Monzo’s customers.
  • Work within a squad alongside product managers, marketers, user researchers, designers, mobile engineers, web engineers, data analysts, business analysts, writers, and more.
  • Build and support a particular part of Monzo.
  • Contribute to the wider collectives (self-governing business units).

Application Instructions

  • No formal qualifications or degree requirements are specified.
  • Monzo will conduct a standard interview process to find the best match for the role based on skills, experience, preferences, and business needs.

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.

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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