Monzo

Senior Backend Engineer

Cardiff, Wales, United Kingdom

£95,000 – £130,000Compensation
Senior (5 to 8 years)Experience Level
Full TimeJob Type
UnknownVisa
Banking, Financial ServicesIndustries

Position Overview

  • Location Type: London / UK Remote
  • Job Type: Full-time
  • Salary: £95,000 - £130,000 + 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 problems and changing lives through technology and customer service.

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

Requirements

  • Strong experience working on backend engineering projects.
  • Enjoy learning new things.
  • No formal qualifications or degree requirements.

Responsibilities

  • Collaborate with a team to make a difference to 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 specific part of Monzo within a wider collective (self-governing business unit).
  • Contribute to the development of Monzo’s banking platform.

Application Instructions

  • The application process involves a standard interview process across all collectives, with the final selection based on skills, experience, preferences, and business needs.

Skills

Backend Engineering
Collaboration
Teamwork
Platform Development
Financial Services
Open-source Contribution

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.

Land your dream remote job 3x faster with AI