'Bank in a Box' technology vendor Monument raises £18 million

This funding round for Monument Technology signals a shift in how financial institutions build their lending infrastructure. For retailers, this represents the next wave of 'Banking-as-a-Service.' It means that traditional banks and non-bank lenders will have access to more modern, cloud-native tools to launch financing products faster than ever before. If your current financing partner is slow to update their tech or lacks mobile-first features, companies like Monument are the reason that is likely to change soon. The investment shows that there is a massive appetite for technology that simplifies the 'back office' of banking. For a merchant or operator, this translates to smoother application processes and better integration capabilities when you connect a lender's software to your point-of-sale system. When lenders use modern platforms, you see fewer technical glitches and faster approvals for your customers. This capital injection will help Monument scale its platform, potentially bringing more competition into the lender-tech space which generally lowers costs for businesses that offer credit.

Source: Finextra — Lending

← Return to the library· Submit a correction