Digital financial institution Monzo has taken the following step in growing its funding providing, which launched in 2023, because it migrates property to Seccl, the Octopus-owned embedded funding platform.
In July 2024, Monzo expanded its funding choices and launched a pension tracing and consolidation service. Now, in 2025, with over 300,000 prospects profiting from the shares and shares ISA and normal funding account (GIA), in addition to the pension service, Monzo has introduced it should migrate property to Seccl because it takes over the availability of custody, wrapper administration and funding providers for Monzo prospects.
Monzo chosen Seccl as its new expertise companion in January. Following a profitable expertise integration, the primary property have been positioned on its new, Seccl-powered proposition in Might. Present prospects are anticipated to be moved to Seccl in September, whereas new Monzo funding accounts opened are already powered by Seccl.
Andy Good, CPO of Monzo, mentioned: “Consistent with our mission to earn cash work for everybody, we’ve helped to demystify investing for 1000’s of consumers, making it easy, clear and reasonably priced. Working with Seccl means we are able to go even additional and introduce extra thrilling options and instruments that assist our prospects develop their cash, all throughout the Monzo app.”
Investing with Monzo
As a part of the migration, Monzo is introducing a spread of recent options – beginning with a completely digital accumulation SIPP (to which prospects could make new contributions, in addition to consolidate present pensions) and the flexibility to commerce ETFs.
BlackRock will proceed to handle the funds accessible to Monzo Investments and Pensions prospects.
David Ferguson, CEO of Seccl, mentioned: “Monzo has justifiably turn out to be one of the crucial well-known banks within the UK during the last decade. Constructed round digital journeys that delight, not diminish (and supported by a wholesome splash of Scorching Coral), it has accomplished what 10 years in the past would have appeared unattainable: constructed a financial institution that folks really love.
“We couldn’t be extra excited to assist them as they proceed to carry their daring mission and good buyer expertise to the world of investing. Over the previous few months, we’ve labored carefully with their staff to seamlessly combine our expertise and get prospects up and operating on our platform. We stay up for watching many hundreds of thousands of individuals make investments effortlessly and affordably due to this partnership.”