Senior Backend Engineer - Product
Mercury- Full Time
- Senior (5 to 8 years)
Description: Monzo is on a mission to make money work for everyone, moving away from the complexities of traditional banking. Starting as a prepaid card provider, Monzo has significantly expanded its product offerings over the last 10 years in the UK. Services now include personal and business accounts, joint accounts, accounts for 16-17 year olds, a free kids account, and credit cards, with further innovations planned. UK customers can also access savings, investments, and pension consolidation services. Known for its distinctive hot coral cards, early access to pay, financial education on social media, and award-winning customer service, Monzo consistently strives to create positive customer experiences. The company prioritizes solving problems and improving lives through its services over simply selling products.
The Growth team at Monzo is dedicated to driving a critical company metric: new user acquisition. This team comprises small, autonomous, cross-functional squads that collaborate across various disciplines to formulate and test hypotheses. The goal is to deliver customer value rapidly by focusing on experimentation and data-driven decision-making, enabling quick validation or invalidation of hypotheses to identify and amplify impactful changes.
Digital-only banking platform for consumers
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.