Why losing access to my money for a day deepened my trust in fintech

While I’m generally cynical when it comes to most fintech startups (I’m British – cynicism is my default position), I’m a huge fan of Monzo. This UK-only banking startup lets you track your spending through a gorgeous mobile application, as well as spend with abandon while overseas without incurring any fees. Monzo, like many fintech startups, hasn’t fully developed its infrastructure yet. When it comes to spending money through the cards, it depends on a third-party payment processor called Global Processing Services (GPS), which is based in Dubai. Monzo isn’t alone in this. Other hot fintech startups that depend on…

This story continues at The Next Web


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