This case study features Monese, a UK-based digital financial services provider, on its migration to tell.money’s Open Banking platform in the second half of 2024.

 

1. What made you start looking for a new Open Banking provider?

With our previous Open Banking provider, every time a new TPP introduced consent management changes, support requests were redirected to our internal teams unless we purchased their Pro support package. This created additional workload for our team and diverted resources away from higher-value initiatives. By moving to Tell Money, they took ownership of this support with their standard support package, significantly reducing the burden on our internal teams and allowing us to focus on more strategic, value-added projects.

2. What mattered most when choosing a new provider?

The key factors in our decision were the quality of support, the ease of migration, and overall cost. We wanted a provider that would offer responsive, hands-on support, make the transition as seamless as possible, and deliver good value without compromising on service or functionality.

3. Why did you choose tell.?

From the outset, Tell Money took the time to understand the challenges we were facing rather than offering a one-size-fits-all solution. They focused on addressing our immediate pain points first and demonstrated a clear commitment to making the migration as straightforward as possible. That proactive, tailor made approach gave us confidence that they were the right partner.

4. How did you find the migration process?

What surprised us most was how much of the migration Tell Money took ownership of. They handled the vast majority of the work on their side, which significantly reduced the burden on our internal team. They also proactively managed communications with the TPPs, guiding them through the re-registration process with Tell Money instead of our previous provider. This made the transition far smoother and less resource-intensive than we had anticipated.

5. What has changed since migrating?

We’ve seen a significant improvement in our day-to-day operations and internal efficiency. Our teams no longer have to manage requests from TPPs, as Tell Money handles these directly. On the rare occasions they need our input, they provide clear guidance and all the necessary context, making it quick and easy for us to support the request. In addition, Tell Money’s platform has proven to be highly reliable. Since migrating, we haven’t experienced any technical issues, giving us greater confidence in the stability of the service and allowing our teams to focus on other priorities.

6. If another organisation was considering switching providers, what would you tell them?

If you’re considering switching providers, it’s important to consider the number of TPPs connected to your platform, as they will need to be notified and given sufficient time to complete the migration. While communicating with the TPPs remained our responsibility, Tell Money supported us throughout the process by helping to draft clear communications and providing guidance on the steps the TPPs needed to take

7. Is there anything else you’d like to add?

Changing providers inevitably involves connecting to new APIs and completing the necessary testing, so it’s important to allow sufficient time to plan and resource the build, test and migration properly. Taking a structured approach rather than rushing the process helps ensure a smoother transition, reduces the risk of production issues after go-live, and gives both your internal teams and your TPPs the best chance of a successful migration.

About Monese

Monese and Pockit are the all-in-one money apps that make it easy for people to access and manage the financial tools that put them in control of their money. We provide vital financial services, from accounts and cards through to cash advance to over four million customers across the UK and Europe. In October 2024, Pockit acquired Monese, creating the leading fintech for anyone who is budgeting, saving, or just trying to stay on top of their finances.