Monzo has introduced Investments, a product aiming to remove investment obstacles by making it straightforward, accessible, and affordable directly through its app.
In brief:
-British digital bank Monzo has launched a feature that lets users invest with as little as £1
-The feature, called Investments, will allow Monzo’s customers to invest in a number of funds managed by BlackRock
-It’s the latest drive from the company to push into new parts of financial services and generate new revenue sources as it seeks to edge toward full-year profitability
What does this mean?
“There’s many, many barriers customers have in getting started … and the aim of our product is to banish those barriers,” Anil told CNBC in an interview ahead of the product launch. “One of the biggest barriers is the idea that investing isn’t affordable so people can’t get started. With Monzo Investments, you can start from £1.”
