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Monument releases app and launches first savings products

Monument releases app and launches first savings products | Fintech Finance

After receiving its full banking licence and commencing its property investment lending activity, Monument launches its app and first suite of savings products to the market.

Monument’s savings products are designed to be simple, fair and easy to use. One of the key differences it offers is an exceptional client service using modern technology, allowing clients to open savings accounts in minutes, making the process one of the quickest in the market.

Once a client has opened an account though the app, they can interact with the Monument team by live chat, phone, video and email, and to switch between those channels, within the app, at the touch of a finger.

Monument also believes that client loyalty should be rewarded rather than taken for granted: when a client renews a savings or lending product, they will receive a better rate than is available to a new client at that time.

John Saunders, Chief Commercial Officer, said: “We are thrilled to be launching our app and to be open for savings business. We have worked hard to build a client experience accessed via the app that provides intuitive and highly efficient client onboarding and an immersive service experience. Whilst clients can do almost everything in the app, when they do need to “speak” to us, they can choose how they do that through the channels we have built into the app, and they can move between them. We believe that by putting the client in control, and having real people powered by great technology, we will reset service standards.

Nobody likes being taken for granted, and from the outset we were clear that client loyalty should be rewarded rather than penalised. So, when a client gets to the end of their fixed term savings, or their lending product, and they take out a new product with us, we thank them with a better rate. In our view, it’s the simple, fair and sensible way to treat our clients.”

Details of the Monument launch savings products, eligibility, and terms and conditions can be found on the website. Depositors must hold a minimum balance of £25,000 with Monument across all savings accounts they have at any time. The Monument Bank app is available for both Apple and Android operating systems and can be downloaded from the App Store and Google Play.

The Bank – whose executives and board have held senior roles in HSBC, Barclays, McKinsey & Co, UBS, Goldman Sachs, Apollo Global Management, PWC, Coutts, 10x, Publicis Sapient, Tech Mahindra and the UK regulators, amongst others – received its full banking license in November 2021.

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