Monzo brings unconditional love to conditional actions
UK challenger bank Monzo now lets users set up conditions to automate certain actions through its new IFTTT (If This, Then That) platform.
The conditions (called Applets) are already set up on the platform for users to subscribe. On its blog, the firm explains that users can set up their own rules.
The post reads: “For example, say you use the iOS Health app to log your calories. With IFTTT, you could enable our pre-made Applet that means every time you buy anything at Starbucks, you’ll automatically log 200 calories on iOS Health.
“Or, you could create a rule that means every time you visit the gym, you automatically ‘reward’ yourself by withdrawing £5 from your ‘Gym Visits’ savings Pot.”
Earlier this year, Monzo launched Coin Jar, an automated way to save. This prompted users to write to Monzo and suggest other means of automation, which eventually led to the creation of these Applets.
The challenger is hoping to add more functionality to its IFTTT integration soon, which at the moment is somewhat limited, including letting users take actions based on direct debits, P2P payments, and bank transfers.
The bank would also like to annotate purchases with notes, freeze and unfreeze cards, and upload attachments automatically.
Coincidentally, Monzo today surpassed 750,000 current account holders.
If you want to read more about other challenger banks in the UK, have a look at our own list.