Tom Blomfield’s Mondo is one of a number of new startups hoping to tap into customers’ increasing use of digital technology as branch use falls steeply It was 21 May, and a historic moment for Tom Blomfield.Stood at a cash machine in Clerkenwell, central London, the ambitious young entrepreneur withdrew money from a brand new account with a new bank at which he was the only customer.Five weeks later, Mondo has 30 customers testing its prototype account.Blomfield – a former management consultant now on his third business startup, all before the age of 30 – said a crunch meeting with the Bank of England on Wednesday would determine whether Mondo gets the formal go-ahead to apply for a banking licence.The full process would take another six months.Mondo is one of a number of startups trying to tap into customers’ increasing use of digital technology.Ahead of it is Atom, a Durham-based outfit that received its banking licence last week.Blomfield and other members of the Mondo team have come from Starling, another would-be digital bank.

They are all eyeing the statistics trotted out by the main high street banks, Barclays, Royal Bank of Scotland, Lloyds Banking Group and HSBC.Branch usage has fallen 36% since 2010 , according to one, while the industry lobby group has predicted this will be the year customers use online technology more often than branches to access their accounts.At the same time, the high street banks are hoping that the new pretenders will show competition is thriving at a time when the industry is being investigated by the Competition and Markets Authority.Digital banks, however, are not for everyone.“My granny knows her bank manager by name,” said Blomfield.Mondo, by contrast, is “for people who get frustrated if they have to wait more than two seconds for things to get done … It’s for people who live their lives on their iPhones”.Based in a loft-like space in Clerkenwell, Mondo shares an office with Passion Capital, a venture capital firm that has pumped £2m into the new business.Lady Kingsmill, the competition lawyer and former adviser to the Royal Bank of Scotland, has been signed up as chair.

The business model clearly relies on a low-cost base.No branches and, Blomfield acknowledges, customers who will need to borrow.“If you’ve got seven days left before payday and you’ve got £50 left in your account, it’s not difficult to predict you are going to go overdrawn,” said Blomfield.Mondo aims to let customers block their account until funds become available or borrow a sum, say £200, at prices in the middle of those being offered.At today’s rates that suggests a 20% annual equivalent rate – roughly equal to that on a typical overdraft, but with no other fees to pay.The startups could offer notifications to customers such as warnings about going overdrawn, reminders of bills to pay and information about how they spend their money.Swiping his Mondo app, Blomfield finds he has used his card - which operates on the Mastercard system - in Pret A Manger 11 times in the past month.For people prone to losing their bank card, the app allows them to put an instant, temporary block on their plastic until it is located.

To prove the point, Blomfield blocks his card using his iPhone, just as he puts it in the self-service till at his local supermarket.The card is declined.Moments later he swipes it back on from the phone.The card is accepted.The purchase – two bananas for 40p – shows up on his iPhone before the self-service till can print the receipt.mobel products oyDigital banks also face the issue of opening accounts and still complying with strict anti-money laundering rules with which banks must comply, and finding ways to let customers pay in cheques.mobel fischer nurnbergLinks with the Post Office and other banks are being considered while a cheque imaging service under development by the industry gets off the ground.mobel martin saarlandBlomfield reckons there is huge potential.gebrauchte möbel heidelberg kaufen

“I think that in the next two or three years a bank will be launched that will become the scale of Google or Facebook.” Is that what Mondo hopes to become?“We hope so,” he said.Share Qty: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 or Use this location: or Unlock 5% savings by subscribing to 5 products.mobile lyf flame 8Learn more Qty: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 1 month 2 months 3 months 4 months 5 months 6 months Used & new (42) from $26.05 Details Price: & FREE Shipping.alte möbel verkaufen wiesbaden

Details Unlock 5% savings on this product when you subscribe to 5 or more products that arrive in the same month.Skip or cancel any time, and shipping is FREE.Learn more Used & new (42) from $26.05 Details Frequently bought together + FREE Shipping.DetailsGrace Digital ACC-ETHRNT Grace Digital USB to Ethernet RJ45 Adapter FREE Shipping on orders over .Details Special offers and product promotions Save Big On Open-Box & Used Products: Buy "Grace Digital ACC-IRCLI Rechargeable Battery Pack ...” from Amazon Open-Box & Used and save 34% off the $39.99 list price.Product is eligible for Amazon's 30-day returns policy and Prime or FREE Shipping.See all offers from Amazon Open-Box & Used.Technical details Brand Name: Grace Digital Model Number: ACC-IRCLI Battery Cell Composition: Lithium Ion Item Package Quantity: 1 Product description Your Mondo or Mondo+ already allows you to enjoy your music wirelessly in any room of your home.

Expand your enjoyment of your Grace Digital Mondo or Mondo+ Wi-Fi radios with the rechargeable battery pact.Add a Grace Lithium Ion Rechargeable battery pack and you can unplug your radio to move it anywhere inside or outside your home with uninterrupted music.You can listen for up to 13 hours between charges.The radio will automatically charge the battery when plugged into an AC wall outlet, even while playing music.Product information Product Dimensions 2 x 1 x 1 inches Item Weight 1 pounds Shipping Weight 6.4 ounces (View shipping rates and policies) Manufacturer Grace Digital ASIN B00766BEZG Origin China Item model number ACC-IRCLI Batteries 1 Lithium ion batteries required.(included) Customer Reviews 4.0 out of 5 stars Best Sellers Rank #1,564 in Electronics > Accessories & Supplies > Batteries, Chargers & Accessories > Household Batteries February 11, 2011 Warranty & Support Manufacturer’s warranty can be requested from customer service.

Click here to make a request to customer service.Feedback If you are a seller for this product, would you like to suggest updates through seller support?Would you like to tell us about a lower price?See questions and answers 5 star58%4 star16%3 star8%2 star9%1 star9%See all verified purchase reviewsTop Customer ReviewsBattery works great ~ I get about 12 hours of use from it ~ Needs user guideGood buyPerfect partner for the Grace digital radioI was having problems listening to Elvis Duran and the Morning Show on the radio alarm.The sound kept fading in and out with frequent hissing, depending on the weather, so I decided on an internet radio.THIS Grace Digital Wi-Fi Music Player with 3.5-Inch Color Display (GDI-IRC6000) (Black) IS AWESOME!It was easy to set up and even connected with my Pandora account.The alarm is fully programmable so my wife can listen to, say, Ocean Deep Sleep channel at night on Pandora using the sleep timer but when the alarm comes on it tunes itself to the radio station broadcasting Elvis.

The sound is crystal clear with no hiss at all.I bought this rechargeable battery too so I can now take the radio anywhere in the Wi-Fi zone and listen to whatever I like.I recently heard the sound from a Bose portable speaker and the sound from this set was even better than that.if you're thinking about an internet radio, you won't be disappointed with this Grace.The battery itself would last all day and recharges itself when you plug it back in at night.Seems decent, but not a factory Grace product, loose fit in radio.Poorly designed circuitry in a great radio.Most Recent Customer ReviewsSearch Customer Reviews Set up an Amazon Giveaway Learn more about Amazon Giveaway What other items do customers buy after viewing this item?Grace Digital Wi-Fi Music Player with 3.5-Inch Color Display (GDI-IRC6000) (Black) 2,065 52 Grace Digital GDI-IRC7500 Stereo Wi-Fi Music System with 3.5-Inch Color Display (Black) 399 Grace Digital ACC-ETHRNT Grace Digital USB to Ethernet RJ45 Adapter 64 See and discover other items: digital radio, radio digital, internet radio, router internet, ac radio