21 September 2017
Find out more

Monzo faces second tech issue in a week

08 March 2017  |  6788 views  |  5 Mobile banking on smartphone

Engineers at app-only bank Monzo are back on the fire-fighting front line for the second time in a week as they grapple to fix issues relating to incorrect payment displays with the startup's mobile app.

On Monday, Monzo announced plans to move card processing inhouse after a severe outage at its current third party service provider left customers high and dry for most of Sunday.

Now it appears that the technical gremlins have struck again, this time causing payments between users, transactions and balances to display incorrectly in the app.

The problems first appeared overnight and persist into this morning as Monzo's tech team continue to investigate the problem. "This remains an in-app display problem and your card will work as normal," says the bank in a status update to its 120,000 customers.

Another issue that caused the Android app to crash when launched has been fixed.

The cock-ups are an embarrassment for the firm, which bills itself as a "technology company as much as a bank", but appear inevitable for a digital business model based on the premise of agile on-the-fly iterations and fast time to market.

Comments: (5)

Alexander Peschkoff
Alexander Peschkoff - TEDIPAY - London | 08 March, 2017, 11:48

Well, a challenger bank is a challenger bank. I.e. "challenge" is the name of the game.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Michael Fuller
Michael Fuller - None - London | 08 March, 2017, 11:57

Monzo has over 100,000 "alpha and beta" testers at the moment (not 12,000) so users understand that the service won't be 100% all the time. The transparency with which they operate and speed of response though rather puts the traditional Banks to shame.

The moment there's an issue the App explains the situation and users don't have to take to Twitter to find out what is wrong. 

1 thumb up! 1 thumb up! (Log in to thumb up)
Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune | 08 March, 2017, 17:53

You forgot one more premise of the digital business model: "fail fast":)

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune | 08 March, 2017, 17:54

At least they can't blame the pet whipping boy, legacy systems, for this cock up!

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
A Finextra member
A Finextra member | 09 March, 2017, 10:52

Monzo are very clear that they are still in a testing phase, and users should always carry another card.  As Michael says, it's a rare standard of transparency and collaboration for the industry.  Normally when outages like this happen to established banks, cash flows and even balances can be affected.

1 thumb up! 1 thumb up! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Monzo to move card processing inhouse following outage

Monzo to move card processing inhouse following outage

06 March 2017  |  11178 views  |  0 comments | 14 tweets | 16 linkedin
Monzo blows past £2.5 million crowdfunding target

Monzo blows past £2.5 million crowdfunding target

28 February 2017  |  7429 views  |  0 comments | 6 tweets | 5 linkedin
Monzo draws £19.5 million funding; returns to Crowdcube for further £2.5 million

Monzo draws £19.5 million funding; returns to Crowdcube for further £2.5 million

23 February 2017  |  6578 views  |  0 comments | 8 tweets | 3 linkedin
Monzo raises £4.8m

Monzo raises £4.8m

21 October 2016  |  12646 views  |  0 comments
Mondo becomes Monzo

Mondo becomes Monzo

25 August 2016  |  14061 views  |  2 comments | 14 tweets | 9 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comdownload the paper nowvisit www.abe-eba.eu

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
12138 views comments | 26 tweets | 41 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
10815 views comments | 6 tweets | 17 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
9453 views comments | 6 tweets | 3 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
8041 views comments | 18 tweets | 26 linkedin
UAE banks pool cyber security dataUAE banks pool cyber security data
8017 views comments | 5 tweets | 4 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job