UK-Based Mobile Banking Startup Mondo to "Hack-a-Test" New API

Mondo is a UK-based startup that's looking to disrupt the banking industry much the same way that Stripe turned the payments industry on its ears. It's exactly the sort of startup that the big banks fear the most since many of them have a diffiicult time leaning back and imagining how to simplify their business through the sort of slick, frictionless mobile user experiences that win smartphone users in droves. If it has any degree of success, it will more than likely get swallowed up by one of those banks in order to accelerate their time to market on truly innovative offerings. 

Mondo's home page claims that it's "building a smart bank from the ground up to deliver intelligent banking on your smartphone. Think timely alerts, useful data and instant payments."  According to Finextra, the startup has reached that all-important milestone where it needs to test the first iteration of its APIs with developers, and as such, is holding a hackathon on Saturday, Sept 19, 2015.  The company is releasing two APIs to start; one is based on the RESTful architectural style of APIs, and the other is based on the Push architectural style using Webhooks.  Describing the APIs, the company says "we’ve got rich and deep information available about everything that happens to your account, delivered in JSON over either a lovingly crafted REST API or web hooks pushed to you in real-time."

Be sure to read the next Banking article: Several U.S. Banks leading the Way to Digital Transformation

Original Article

Mondo releases secret API; runs hackathon