Norris Koppel is an Estonian serial entrepreneur currently based in the UK. Having founded 3 Fintech startups, Norris finally landed the big break with Monese.
Monese, an ‘E-Banking’ service allows customers to set up bank accounts on an app in less than 10 minutes. The start-up has been awarded the best challenger bank at the European Fintech Awards.
When Monese founder Norris Koppel first moved to the UK from Estonia, he faced a frustrating experience that is all too common. With no UK credit history or utility bills proving his address, he was immediately denied a bank account. Without one, he found it near impossible to receive his salary or rent an apartment – which led to the ideation of Monese.
Monese can be up to 5 times cheaper than a traditional bank based on a comparison of the Tariffs of Retail Banking in Thirteen Countries by Van Dijk Management Consultants, 2013 and Monese’s analysis of the cost of account ownership across the top 5 banks in the UK with a combined market share of 85%.