Digital bank Monzo has taken the next step in developing its investment offering, which launched in 2023, as it migrates assets to Seccl, the Octopus-owned embedded investment platform.
In July 2024, Monzo expanded its investment options and introduced a pension tracing and consolidation service. Now, in 2025, with over 300,000 customers taking advantage of the stocks and shares ISA and general investment account (GIA), as well as the pension service, Monzo has announced it will migrate assets to Seccl as it takes over the provision of custody, wrapper administration and investment services for Monzo customers.
Monzo selected Seccl as its new technology partner in January. Following a successful technology integration, the first assets were placed on its new, Seccl-powered proposition in May. Existing customers are expected to be moved to Seccl in September, while new Monzo investment accounts opened are already powered by Seccl.
Andy Smart, CPO of Monzo, said: “In line with our mission to make money work for everyone, we’ve helped to demystify investing for thousands of customers, making it simple, transparent and affordable. Working with Seccl means we can go even further and introduce more exciting features and tools that help our customers grow their money, all within the Monzo app.”
Investing with Monzo
As part of the migration, Monzo is introducing a range of new features – starting with a fully digital accumulation SIPP (to which customers can make new contributions, as well as consolidate existing pensions) and the ability to trade ETFs.
BlackRock will continue to manage the funds available to Monzo Investments and Pensions customers.
David Ferguson, CEO of Seccl, said: “Monzo has justifiably become one of the most well-known banks in the UK over the last decade. Built around digital journeys that delight, not diminish (and supported by a healthy splash of Hot Coral), it has done what 10 years ago would have seemed impossible: built a bank that people actually love.
“We couldn’t be more excited to support them as they continue to bring their bold mission and brilliant customer experience to the world of investing. Over the past few months, we’ve worked closely with their team to seamlessly integrate our technology and get customers up and running on our platform. We look forward to watching many millions of people invest effortlessly and affordably thanks to this partnership.”
