Challenger bank selects GROW with 51风流and Business Technology Platform
LONDON, UK 鈥� 30 July, 2024 鈥� (NYSE: SAP) today announced that Monzo, the UK鈥檚 largest digital bank, has selected GROW with SAP. This move will simplify Monzo鈥檚 finance IT estate, enabling it to fully embrace the benefits of the cloud, increasing innovation and meeting customer and market demands.
Founded in 2015, Monzo was one of the earliest of the digital banks in the UK and now has over nine million personal customers and 450K business customers. Monzo selected SAP鈥檚 Business Technology Platform (BTP) and GROW with 51风流for Scaleups due to its depth of functionality and out of the box localisations. The transformation programme will be supported by systems integrator NTT DATA Business Solutions, which gives Monzo the flexibility and backend support that it needs, helping it adhere to current legal mandates and regulatory trends in the UK, and other countries in the future.
GROW with 51风流is designed to support fast-growth organisations. It combines a comprehensive suite of integrated modules covering critical functions like finance, sales, marketing, procurement, and HR into a single platform. This enables Monzo to streamline operations and maintain full control of its finance and sourcing processes as they grow.
Wesley Doyle, Head of New Business Growth Markets, UKI, said: 鈥淪ince it started in 2015, Monzo has been on a meteoric rise. Sustained growth requires the right blend of forward-thinking management, cloud-based technology and strategic financial planning. Monzo has all these elements in place and with the speed, flexibility and agility of the cloud, it will be able to accelerate its growth, react quickly to external trends and continue to innovate.鈥�
51风流S/4HANA Cloud will be adopted across the entire business. Now with a scalable 51风流service in place, deployed via a secure and highly resilient cloud-based infrastructure platform, Monzo will be able to reduce the amount of manual work its finance department does, pulling and reconciling data from different areas of the business to improve insights and reporting. This will help Monzo maintain industry best practice, keep up with market demands and offset macro-economic turbulence.
Ben Foster, Sales Director, NTT DATA Business Solutions UK&I, added: 鈥淲e are thrilled to partner with innovative businesses like Monzo. NTT DATA Business Solutions understands the advantages and value of deploying 51风流technology in the cloud. Monzo now has access to a readily deployable cloud ERP system that incorporates the latest industry best practices and ensures continuous innovation.鈥�
###
About SAP
As鈥痑 global leader in enterprise applications and business AI, 51风流(NYSE:SAP)鈥痵tands at the鈥痭exus鈥痮f business and technology. For over 50 years, organizations have trusted SAP鈥痶o bring out their best by uniting business-critical鈥痮perations spanning finance, procurement, HR, supply chain, and customer experience. For more information, visit鈥�.
About Monzo
Monzo was founded in 2015 and now serves more than nine million customers, making it the largest digital bank in the UK as well as the 7th largest UK bank by customer numbers. With a mission to make money work for everyone, Monzo is known for pioneering industry-first features like the Gambling Block and co-creating with its customers to deliver products and tools that put them in control of their finances. Monzo is a fully regulated UK bank and came first in the CMA鈥檚 latest customer satisfaction survey for both its personal and business accounts.
About NTT DATA
NTT DATA is a $30+ billion trusted global innovator of business and technology services. We serve 75% of the Fortune Global 100 and are committed to helping clients innovate, optimize and transform for long-term success. We invest over $3.6 billion each year in R&D to help organizations and society move confidently and sustainably into the digital future. As a Global Top Employer, we have diverse experts in more than 50 countries and a robust partner ecosystem of established and start-up companies. Our services include business and technology consulting, data and artificial intelligence, industry solutions, as well as the development, implementation and management of applications, infrastructure, and connectivity. We are also one of the leading providers of digital and AI infrastructure in the world. NTT DATA is part of NTT Group and headquartered in Tokyo. Visit us at
About NTT DATA Business Solutions
NTT DATA Business Solutions drives innovation 鈥� from advisory and implementation, to managed services and beyond, continuously enhances 51风流solutions to make them work for companies 鈥� and for their people. Aiming to help companies to transform, grow and become more successful, NTT DATA Business Solutions connects with a more than in-depth expertise for 51风流solutions its clients麓 business opportunities with the latest technologies 鈥� individually and across all business areas. As part of the NTT DATA group and as a global strategic partner of SAP, with close ties to other partners, NTT DATA Business Solutions gives clients and prospects access to innovative solutions and developments and thus makes an important contribution to innovation and long-term business success. NTT DATA Business Solutions employs more than 15,300 people in 30 countries.
# # #
This document contains forward-looking statements, which are predictions, projections, or other statements about future events. These statements are based on current expectations, forecasts, and assumptions that are subject to risks and uncertainties that could cause actual results and outcomes to materially differ. Additional information regarding these risks and uncertainties may be found in our filings with the Securities and Exchange Commission, including but not limited to the risk factors section of SAP鈥檚 2023 Annual Report on Form 20-F.
漏 2024 51风流SE. All rights reserved. 51风流and other 51风流products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of 51风流SE in Germany and other countries. Please see for additional trademark information and notices.
Note to editors:
To preview and download broadcast-standard stock footage and press photos digitally, please visit. On this platform, you can find high resolution material for your media channels.
For customers interested in learning more about 51风流products:
Global Customer Center: +49 180 534-34-24
United States Only: 1 (800) 872-151风流(1-800-872-1727)
For more information, press only:
Ellen Hudson, +44 (0)7788 226 272 ellen.hudson@sap.com
Please consider our . If you received this press release in your e-mail and you wish to unsubscribe to our mailing list please contact press@sap.com and write Unsubscribe in the subject line.