The feature has been in high demand among Monzo users.
Next week, leading digital bank Monzo will reveal more details on its hotly-anticipated joint accounts, before turning the first of these accounts live for a small group of app testers.
Monzo Labs gives some users early access to new features and experimental products launched by the bank. At an event on Thursday, Monzo will give customers a chance to meet the team that built the joint accounts feature, providing a ‘behind the scenes’ look at its latest product.
The banking challenger says that joint accounts are one of its ‘all time most popular community requests’. Its rival Starling Bank launched its joint accounts a few weeks ago, claiming to have become the first UK bank to do so with a fully mobile application process. Thanks to Google Nearby technology, Starling users will simply need to sit next to one another in order to active their joint accounts.
Digital banks in the UK have a habit of copying one another's products – but the style in which those products are delivered often differs. Monzo tends to be very considered in its launches, involving users for extensive testing at each turn. The bank's ‘big list’ online allows users to see its product roadmap online. At the opposite end of the spectrum is Revolut, which has rolled out everything from spare change vaults to a crypto trading service in the past year, at it continues its frenzied expansion.
Attendees at Monzo’s event next Thursday will get a progress report on the ‘big list’, after which the joint accounts will be switched on via Labs.
Now in its sixth year, the AltFi London Summit returns on 18th March 2019 to 155 Bishopsgate. Last year proved to be a crucial turning point for the key players building the future of finance. Leading platforms launched oversubscribed IPOs, digital banks proliferated and mainstream financial institutions started their own disruptive propositions. With 2019 certain to be another landmark year, more questions will be asked by regulators with investor interest in disruption also poised for more rapid growth.