And the only way to do this is together with our customers.
We began in 2021 with the idea that easy and safe financial services should be available to everyone. We built a strong ethically and values based company that truly believes in doing the right thing for our customers, and a platform based on continuous innovation to deliver the best possible experience.
We worked with our trial customer group to build the first version of the Mondooli mobile app which launched in July and featured our most comprehensive range of banking services yet. And we're just getting started!
Our banking product was trialed in Indonesia with the launch of the Bellion Wallet mobile app. We received overwhelming feedback at its ease of use and friendliness. We divested our crypto business at the end of 2023 to focus fully on our banking product. We also rebranded to Mondooli.
We expanded our product offering to include fiat currencies and launched in Indonesia. Our vision to build the best possible banking experience was just getting started.
We were born as Bellion Wallet and began life enabling customers to buy, sell, swap and earn interest on cryptocurrencies. Our easy-to-use product was a hit and we grew rapidly to finish the year with 80k customers and a team of almost 20 people across 3 countries.
We truly believe in doing the right thing for our customers so we built a company that operates very differently to traditional banks.
We're a neobank so we partner with licensed banks and payment institutions and fully comply with laws and regulations to keep your money safe.
How do traditional banks operate?
Traditional banks operate using a practice called fractional-reserve banking. This means a traditional bank will lend your money to other customers to earn interest - of which only a small portion is paid to you, the rest the bank keeps as profit. This is why a traditional bank is required to join a deposit protection scheme. In addition, banks often charge you monthly fees, transaction fees and more.
How do we operate?
We believe there is a better and safer way. We don't lend your money to other customers - we keep it safe and always available using safeguarding. This means 100% of your balance is protected, unlike a deposit protection scheme which has a maximum limit. We also invest a small portion of funds in government backed low risk assets, such as bonds that are approved by regulators, to be able to pay interest on your balance.
Safeguarding is regulated by the EU Electronic Money Directive 2009/110/EC and UK Electronic Money Regulations 2011.
We always put our customers first and delight with amazing and easy to use products backed with industry leading customer care. We're here to make an experience that our customers love.
We are making products that deliver financial services in new ways. Think about the future and how to make life better for our customers. Always think outside the box and don't be afraid to do what hasn't been done before.
We work together to achieve the same goal. We all have different strengths and as a team we can achieve so much. Always respect your team mates and help where you can. Give and receive feedback constructively.
Our core DNA is being ethical and trustworthy. Our customers place their trust in us to ensure we operate in an ethical and trustworthy manner. We never compromise to keep our customers protected and safe.
We're on the look out for exceptionally talented people to join our team and help create an experience our customers love.
Careers at Mondooli
