Monevium app banking
Challenger Banks Europe Paytech Trending

International Transfer Capabilities Key to Monevium Digital Banking App Launch

Monevium becomes the latest fintech to wade into the mobile banking arena with the launch of its new app. 

The UK-based authorised payment institution Monevium is introducing an app-based interface to support the digital functionality and accessibility of its Euro IBAN account offering.

The app’s new functions include the ability to order virtual debit cards as well as physical debit cards directly from within the interface and a view of all card and account statements in real-time.

As expected from a digital banking app of the modern market, the app also supports a funds transfer service with both an internal and international scope.

Peer-to-peer (P2P) payment functionality supports internal transfers between users, while the SWIFT network or single Euro payments area (SEPA) system facilitates international payments.

Unlike traditional banking systems, Monevium has ensured that users can complete this functionality entirely within the mobile interface.

In regard to user security, the app also offers a PIN storage service allowing identification numbers to be referenced, altered and secured through digital means, while physical cards can be frozen/unfrozen or reported and replaced through the app if misplaced.

Mobile-first modern economy

Speaking on the company’s venture into the digital banking space, Alexey Stepanov, the managing director of Monevium, explains how the app seeks to “further the ‘mobile-first’ nature of everyday life in the modern economy.”

With its customers at the forefront of modern living, Stepanov says that the app’s functionality makes keeping track of transactions, as well as managing new ones, “effortless, regardless of location, all in one place, on one user-friendly platform.”

He ascertains the launch of the app to be “just the first step in our mobile journey,” before adding that the company intends to introduce new features “over the coming months.”

With this, it’s likely that in the future, Monevium with continue to extend into the digital banking sector with an offering for corporate clients, balance top-ups from debit cards and the introduction of further currencies.

Author

  • Tyler is a fintech journalist with specific interests in online banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.

Related posts

Crypto Fraud Continued Drastic Rise in 2022; Reveals CoinJournal

Tom Bleach

Singapore FinTech Festival 2021 to Take Place in November as a Hybrid Digital and Physical Event

Polly Jean Harrison

‘Stark Warning to Celebs’ – Kim Kardashian Fined By US SEC For Crypto Promotion

The Fintech Times