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.
AltFi is returning to Amsterdam for its second annual Summit in the city. The inaugural event last year was a roaring success, with key figures from across Continental Europe's alternative finance and digital banking sectors highlighted. These included Jeroen Broekema, managing director of Funding Circle Netherlands, and Mieke van Engelen, head of innovative partnerships at ABN AMRO's standalone lending platform, New10.