Scott Baxter

We are back at Monzo Bank this week for our 2nd C-suite event in a week! 100 CTO/CPOs will be joining us for our partnership with YLD ⭐️ Driving Innovation for CTOs, CPTOs & CPOs: → The untold truths: You don’t know what you don’t know, until you have the seat at the table, AKA everything that nobody tells you → The working partnership between CTO’s, CPO’s, the wider C-Suite, the Board and the Investors → CTO > CPTO > CPO & moving to a more commercial understanding - what do businesses lose from being product centric? What is the Future of the Product function? → Are Product leaders executives without accountability? (CTO builds, CMO markets, CRO sells, etc) https://lnkd.in/ePezHuhs

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🔍 Consumer Spending, Saving & Investment Trends in 2024 🔍 🚨 Hot off the press! hashtag#Paysafe’s Inside the Wallet report is here! We polled 14,500 people worldwide on their money habits. From the UK to Argentina, we’ve got the scoop on how people are spending and saving. 📊 Get the inside track on financial trends and future predictions. 📈 #ConsumerTrends #InsideTheWallet #ItStartsHere

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UK fintechs are gradually changing the face of finance and banking. They’ve helped to boost the economy and are pulling their weight when it comes to increasing financial security. But with economic factors such as interest rate changes, inflation, and economic downturns or booms significantly influencing the sector, they cannot afford to slow their growth and momentum. This article explores how fintechs are shaping a brighter future for the UK and how they are playing a transformative role in the banking sector. A really interesting and positive piece (despite the challenges!), I think you’ll enjoy this one. https://lnkd.in/eViTQazP #FinTech #BankingSector #FinancialServices

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As Harry Baker, Proposition and Product Manager at Barclays Eagle Labs, puts it: "Most people that are running scaling companies go through very similar problems. And we want to make sure that, as a cohort, these people are are learning from each other and they're creating their own tribe where they can get together and crowdsource the answers to problems" 🗣️ So following a six-month journey together on our Scaleup Programme with Barclays Eagle Labs, we're delighted by how much our founders value the networks they've built, while furthering their growth ambitions to even double headcount in some cases 📈 Check out the video below to hear from Scaleup Programme alumni G.Digital CEO Georgie Lynskey, Boodil COO Sam Owens and former Cloud8 CEO Dipa Mistry Kandola about their experiences of working with us 🎥 If you want to be part of the next Scaleup Programme cohort, register your early interest here: https://lnkd.in/er6qEkJM Read more to understand the challenges, opportunities and achievements unlocked at scaleup stage: https://lnkd.in/d_MXq39r Emma Marshall | Saj Huq | Russell Gundry | Charlotte West | Joe Howard | Winnie Yan | Alliah Rust | Naia P. | #Innovation | #Programme | #Cohort | #Graduation | #Founders | #Collaboration | #Network

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What do the Mayflower and B2B FinTechs have in common? Well they both went to America in search of hope.... Numerous times the last 6m+ I've heard of the struggles within British & some European FinTechs to find profitability in their home markets. (Markets are tough - undeniably) So what's their solution..... "Team we're expanding to the US!!". Understandably the US accounts for a massive slice of the banking / wealth / investment markets, so of course that makes sense & yes there is definitely the opportunity to take a bite of a larger pie. That said of those leaving said companies or on the cusp of it, generally perceive that their CEOs & CROs are making the "easy" call - if we can't sell here we need to head to a bigger territory. Although.... is the problem perhaps closer to home and is your business in good shape to properly crack the US... Things I believe need to be considered: 🌎 Regulatory Compliance 👍 : How significant are the market adaptations to your core product and whats the time / spend you need to outlay before fit for the market? 🇺🇸 Cultural Nuances 🇪🇺 : Does your product translate well in the US market - are their market nuances that are more European or British in their nature? 📱 Brand Recognition 🕸 : Do you have a reputation (social media, events etc) that will carry in to the US. Sales teams can be great but if you're selling a costly product in a new market you want some collateral to leverage. 🗣 Customer Service 🎧 : Great having a sales team in the US however is it a good idea with the support all being on GMT/ CET? ✅ Is your product even that good? ❎ Post pandemic money was cheap and several product came to market and got funding without really having a proper USP or strong route to market - therefore is not the time for a product reset? I'm sure there's loads more and also hiring is key - you can't simply hire a superstar to get your out your woes..... If there's any companies that read this and want a more broad chat about what others are doing and the hazards to avoid I'm more than happy to chat! #mayflower #comingtoamerica #Fintechs2024 #USsalvation #kureos #markettrends.

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Fintech’s IPO Moment – A Sign of the Times? Big moves are happening in fintech! 💡 Monzo Bank is ramping up for a potential IPO, hiring former Nubank and Barclays execs to strengthen its leadership as whispers of public listing grow louder​. Meanwhile, Klarna is making headlines with its formal U.S. IPO filing, celebrating its first profitable quarter​Sifted These IPOs represent a major turning point for the fintech sector. Once known for aggressive growth at all costs, the focus is shifting toward operational sustainability and profit. Here’s what makes this interesting: Monzo Bank: This UK-based challenger bank is laser-focused on expanding its footprint in the U.S. and Europe. Its strategic hires signal readiness for a new chapter of global influence. Klarna: Known for Buy Now, Pay Later, Klarna’s profitability demonstrates that even fintech unicorns can evolve into disciplined businesses, making it a key company to watch. 💬 These developments raise questions: Are fintech IPOs a reliable marker of maturity or simply a strategic cash grab in uncertain times? How will going public impact their ability to remain innovative while meeting shareholder expectations? We’re at a pivotal moment where fintechs must balance scaling with delivering value. Are these companies setting a new standard for the industry?

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Really enjoyed last week's Product London Meetup, which was hosted at Monzo Bank! 🚀 We had the pleasure of hearing from Christine Tsai, Product Manager at Monzo, who shared her innovative approach to developing a business banking strategy that will ultimately make her team redundant! 🤯 What made it a success? 1. Problem First: Clearly defining the problem was half the battle 🔍 2. Strategy & Leadership Support: Focused missions and strong leadership provided the space to be bold. 💪 3. Plan for the End in Mind: Acknowledge when you think the team will no longer be needed. 🏁 Veronique Merriam Barbosa, Head of Loyalty Rewards at Monzo, revealed how they launched their rewards programme in 5 months, reaching over 1.6 million customers and providing £4.3 million in customers accounts! 💰 What was their secret sauce? 1. Empowered Squads with Exec Availability = Faster execution. 🏎️ 2. Can-Do Culture and A+ Players = Less roadblocks 🔒 3. Rapid Experimentation = Quicker data-informed decisions ⚡ Krishna Panicker, VP Product at Airbase, emphasised the importance of maximising impact through value stacking: How can you achieve this? 1. Focus on Growth: Understand the difference between additive (A+B+C) and compounding growth (AxBxC). 📈 2. Unbundle Problems: Identify the problem behind the problem. 🔄 3. Rebundle Solutions: Iterate forward to develop effective solutions. 🔧 Example: Apple’s approach • Passbook: Established a card habit through Digital ticket storage 🎟️ • Touch ID: Created an auth habit by combining convenience with security. 🔐 • Apple Pay: Fostered a habit of secure payments by leveraging existing card and authentication behaviours. 💳 🤔 Food for thought: • As a product manager, what’s the difficult question you need to ask? • As a product leader, how can you create a space for your PM's to be bold and creative? • How robust are your processes to enable you to quickly imagine, research, design and ship an experiment? • What underlying problems are your customers facing and how can you effectively unbundle these issues to address their true needs? A huge thank you to all the speakers for their invaluable insights and to Alex Scriven for moderating! It was also fantastic to attend alongside alongside Kuldeep Jethwa & Feyisayo A. Delighted to have also run into Andy Twiggs, Victoria Jones and Shiv Khuti! #ProductManagement #Leadership #Innovation #CustomerExperience #Meetup #Monzo #ProductStrategy #Growth #Networking #ValueStacking

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Have you ever wondered why payments regulation became crucial in the UK? Join me as I dive deep into its inception with John Burns, a pioneer in the field. Discover why it was needed and how it shaped the financial landscape. Listen to the full discussion here:  https://lnkd.in/dUbmWG5F #ComplianceMatters #ComplianceRecruitment #Compliance #ComplianceNews #ComplianceJobs 

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"The Contentsquare platform is so intuitive; new users can get going straight away, which means as our QA team evolves and changes, we can easily and quickly bring new users." Helen and Damien at international financial services group, Admiral share how they're using Contensquare to optimize their digital quality assurance process.  Read the full story 

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As 2024 concludes, several key developments have shaped the FinTech payments industry this year... Understanding the key trends and shifts is crucial for startups looking to make their mark in the payments space, especially with some companies that have been very exciting to watch this year, particularly - NomuPay, SumUp, iwoca, Apron, Crezco, PingPong Payments. I'm noticing 👀 - Higher demand for personalised payment - Increased investment in mobile wallets - Tap-to-pay features - The rise of net banking So what's beyond 2024? I'm predicting 👀 - Further simplification of cross-border payments - Surge in digital currencies and cryptocurrencies - Sustainable and green finance - Increase in embedded finance How to stand out? Be authentic. Be agile. Be responsive to the changing dynamics. #FinTech #Payments #DigitalPayments #PaymentSolutions #RealTimePayments #CrossBorderPayments #PaymentProcessing

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Mate, How does that matter to you and me? Are we going to get any money from it? Is society going to get anything out of it? Will that risk them their banking license? Will that impact their valuation? Will that impact their NPS ( Net Promoter Score)? Will that impact their growth and expansion?

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Monzo Bank is gearing up for a potential IPO, and the excitement is palpable! With key appointments like Tom Oldham, who played a pivotal role in Nubank’s NYSE listing, Monzo is clearly building a formidable leadership team to navigate this ambitious journey. Their $5.9 billion valuation demonstrates solid growth, and with over 11 million customers, the groundwork is set for growth in the competitive US and European markets. But why does this matter beyond Monzo? A successful IPO could reignite investor interest in fintech, setting a new trend for digital banks. It could also pressurize competitors like Revolut and Starling Bank to reconsider their own IPO timelines. For early investors and retail traders alike, this is an enticing proposition! The stakes are high, and if Monzo plays its cards right, it could redefine the fintech landscape. Are you ready for this potential game-changer?

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𝗠𝗼𝗻𝘇𝗼'𝘀 𝗚𝗿𝗼𝘄𝘁𝗵 𝗖𝗼𝗻𝘁𝗶𝗻𝘂𝗲𝘀 𝘄𝗶𝘁𝗵 𝗡𝗲𝘄 $𝟱.𝟵𝗕 𝗩𝗮𝗹𝘂𝗮𝘁𝗶𝗼𝗻 Monzo Bank, the UK-based digital bank, has achieved a $5.9 billion valuation through a recent secondary market share sale, allowing employees to benefit from the company's success without needing to go public. 🌱 𝗞𝗲𝘆 𝗽𝗼𝗶𝗻𝘁𝘀: • Investors such as Singapore’s GIC and StepStone Group have increased their stakes, highlighting strong confidence in Monzo’s future. • Monzo’s recent $190 million raise, part of a larger $425 million Series I, included Alphabet’s CapitalG and GV. • The bank recently reported its first full-year pre-tax profit, with revenues doubling year-over-year. • Serving 20% of UK adults and 6% of UK businesses, Monzo is solidifying its market presence. • Expansion plans are in motion with a focus on Europe and the U.S. as it continues to scale. Monzo's trajectory reflects the growing influence of challenger banks in the global fintech landscape. 🌍💸 Source: https://lnkd.in/ejDQnAYF For more weekly insight and thought-provoking analysis, ensure you get your copy at 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗕𝘆𝘁𝗲𝘀: https://lnkd.in/ev-WMFzG. Make sure you sign up to get your weekly analysis.  #Fintech #Monzo #Growth #ChallengerBanks

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FINTECH IS GROWING 🚀🦄 Fintech is growing across banking, payments, insurance, wealth management, digital assets and more – offering traditional retail banks the chance to diversify their revenue streams away from interest rate-sensitive products. Big banks want in, and are adopting several different entrance strategies – each with their own risks and rewards. A great article from Cityam over the weekend. #FINTECH #GROWTH #COMPETITION #BANKINGANDFINANCIALSERVICES

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Hiring for the payments sector? Here's a quick guide to secure top talent: 1. Define Your Vision: Clearly articulate your company's mission and how payments professionals contribute. 2. Highlight Tech Stack: Top talent seeks innovation. Showcase your cutting-edge technologies and commitment to staying ahead. 3. Flexible Work Policies: In a digital era, flexibility is key. Remote options and flexible schedules attract diverse and skilled candidates. 4. Career Progression: Outline career growth paths. Payments professionals are ambitious—show them their potential trajectory. 5. Emphasise Company Culture: Payments is collaborative. A positive, inclusive culture is a magnet for top talent. Do you want to work with a recruitment partner who can advise whilst also securing the best people for your business? I’d be happy to help, lets chat! #PaymentsRecruitment #TalentAcquisition #HiringStrategies

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As cross-border payments get faster and faster, investing in tools that pre-validate transactions before they're sent is becoming increasingly important. In a recent OMFIF article, Swift's Cian OMurchu explains the role that Verification of Payee can play, and what's needed to unite systems already in operation. 👉 Read now: https://okt.to/OIXHxe #payments #crossborderpayments

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Monzo is openly testing their emergency banking mode on a small group of users. The best part? If selected, you won't be bothered again for five years. This transparency and commitment to reliability dispel any doubts about neobanks. Monzo proves that they're not just for small transactions but are built for robust, stable operations. Kudos to Monzo for setting a high standard in banking infrastructure! 💪 #Fintech #Banking #Innovation

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#FinTech | 🚀 Big News from Monzo Bank Here’s a deep dive into their 2024 Annual Report 🧵👇 1/ 📈 𝗥𝗲𝗰𝗼𝗿𝗱 𝗥𝗲𝘃𝗲𝗻𝘂𝗲 𝗚𝗿𝗼𝘄𝘁𝗵: Monzo’s gross revenue grew by 2.5x, hitting £880M in FY2024 compared to £355.6M in FY2023. Talk about a leap! 2/ 👥 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿 𝗦𝘂𝗿𝗴𝗲: Customer base exploded to 9.7M, up from 7.4M last year. Word of mouth drove 46% of this growth. People are loving Monzo! 3/ 💰 𝗣𝗿𝗼𝗳𝗶𝘁 𝗠𝗶𝗹𝗲𝘀𝘁𝗼𝗻𝗲: For the first time, Monzo posted a profit before tax of £15.4M, reversing a £116.3M loss in FY2023. They’re in the black! 4/ 🌍 𝗧𝗼𝗽 𝗥𝗮𝗻𝗸𝗶𝗻𝗴𝘀: - #1 for Overall Service Quality in Great Britain and Northern Ireland (CMA 2024). - Best Business Banking Provider at the 2024 British Bank Awards. 5/ 💡 𝗜𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝘃𝗲 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝘀: - Launched Instant Access Savings Pots and Monzo Investments. - Rolled out new cashback offers and international transfer capabilities. 6/ 📊 𝗜𝗺𝗽𝗿𝗲𝘀𝘀𝗶𝘃𝗲 𝗠𝗲𝘁𝗿𝗶𝗰𝘀: - Customer deposits surged by 88% to £11.2B. - Total assets almost doubled, reaching £13B. 7/ 🌱 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆 & 𝗜𝗻𝗰𝗹𝘂𝘀𝗶𝗼𝗻: - Expanded environmental reporting under Climate-related Financial Disclosures (CFD). - Focused on financial inclusion, aiming to simplify banking for all. 8/ 🤝 𝗩𝗮𝗹𝘂𝗮𝘁𝗶𝗼𝗻 𝗕𝗼𝗼𝘀𝘁: - Successfully raised £489.5M in capital, led by CapitalG. - Valuation jumped to over £4B. 9/ 👨‍👩‍👧‍👦 𝗧𝗲𝗮𝗺 𝗚𝗿𝗼𝘄𝘁𝗵: - Increased workforce by 47%, now totaling 3,736 colleagues. - Commitment to diversity and inclusivity remains strong. 10/ 🔮 𝗙𝘂𝘁𝘂𝗿𝗲 𝗩𝗶𝘀𝗶𝗼𝗻: Monzo’s mission is clear: to make money work for everyone. They’re set to scale even further, aiming to serve millions more globally. Stay tuned for more updates from Monzo as they continue to innovate and grow! 🌟

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