NEWS AND EVENTS

The bank of the future, Monzo, selects Apperio to increase visibility over legal spend

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Apperio, the leading legal spend management and analytics platform, is pleased to announce that revolutionary mobile-only bank, Monzo, has selected Apperio.

Apperio is an automated legal spend management and analytics SaaS platform that enables in-house lawyers to effortlessly track and analyse their legal spend across all law firms, in real-time, in one place.

Monzo was frustrated with the limitations of their current manual process where they received spend updates on an ad-hoc basis from their law firms. Apperio, the market leading spend management platform, was selected to help Monzo optimise their legal spend and increase efficiencies with accurate, actionable and real-time data across all their law firms.

Dean Nash, Head of Legal & Compliance, commented, “We’re pleased to announce we’ve chosen Apperio to manage all of our external legal spend. Apperio gives us increased visibility over our external legal costs and enables us to spot anomalies in spending quicker.”

“Monzo’s rapid growth in a very short space of time has resulted in increased external legal spend. Having real-time data to help us track and understand where we are investing in legal services was critical to us to make sure that we are investing in the right areas and are working with firms that are delivering real, sustainable value to us. We’ve found a great solution in Apperio, that gives us this data in a simple and digestible format and enables the Legal team to focus on supporting the overall growth of Monzo.”.

Nicholas d’Adhemar, CEO and Founder at Apperio, commented, “We’re delighted to be working with such a forward-thinking organisation who recognise the value of automation tools in their legal department. From financial services to real estate, technology and beyond, organisations across the globe continue to choose Apperio to drive cost savings and improve efficiencies by allocating their legal spend more intelligently.”.

About Apperio

Apperio’s secure, cloud-based analytics solution enables in-house legal departments to monitor all their legal fees, including work-in-progress, across all their law firms, in real-time. Apperio enables corporate legal departments to optimise their legal spend, make data driven decisions and drive efficiencies.

Notes on Monzo
  • Monzo launched as an app-only bank in 2015, and has grown to over 700,000 customers in that time
  • Customers have spent over £2 billion with their Monzo cards to date
  • The company was founded in February 2015, received its full banking licence in April 2017, and is authorised by the UK PRA and regulated by the PRA and FCA
  • A team of more than 300 people work from Monzo’s offices in London, Cardiff, and remotely around the world
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