In a romance scam, the victim is persuaded to transfer money to someone
 they've met online, with whom they believe they have built a romantic
 relationship. The relationship is usually established on social media or via
 dating apps/ websites. Once they've established their victim's trust, the
 scammer may claim to be experiencing problems, such as issues with their visa,
 health issues, family issues or flight tickets and ask for money to help.


 Scammers continue to use a range of tools and techniques to systematically
 groom, isolate and manipulate victims to exploit them for financial gain. They
 use fake personas, sites and companies, fabricated narratives and false
 documents to bolster those narratives.


 Romance scammers rely on kindness and use highly manipulative and coercive
 techniques to exploit this for their gain.

<h5>Warning signs it might be a scam:</h5>
<ul>
 <li>
 They may express strong feelings early on and attempt to progress the
 relationship quickly. One tactic is making their victim feel special early
 in the conversation.
 </li>
 <li>
 If you're chatting on your usual social media platform or an official dating
 service, they may try to move the conversation to WhatsApp or Telegram.
 </li>
 <li>
 Romance scammers will encourage secrecy and may influence you only to trust
 them. They may try to isolate you from your family and friends.
 </li>
 <li>
 They usually avoid answering personal questions about themselves. The
 details they tell you seem made up or don't reflect the truth. For instance,
 they may say they're university-educated, but their spelling and grammar are
 poor.
 </li>
 <li>
 There will always be an excuse why they can't meet in person or show
 themselves on camera. They say they live overseas or somewhere remote, or
 their technology isn't working.
 </li>
</ul>
<h5>Other things to look for:</h5>
<ul>
 <li>
 Their online profile doesn't match what they tell you about themselves.
 </li>
 <li>
 They talk about money or investments. They might say they know about
 cryptocurrency and offer to teach you.
 </li>
 <li>
 You're asked for personal photos, videos or information they could use
 against you in the future.
 </li>
 <li>
 The scammer gets desperate or angry if you don't do what they ask. They may
 threaten to cut off the relationship.
 </li>
</ul>
<blockquote>
 
 Two in five people (38 per cent) who dated someone they met online were
 asked for money
 
</blockquote>
<blockquote>
 
 Over half (57 per cent) of those who were asked for money said that they
 gave it or lent it
 
</blockquote>
<h5>The impact of romance scams</h5>

 Romance scams can have devastating consequences for the victims. Emotionally,
 individuals who fall prey to these scams often experience feelings of
 betrayal, embarrassment, and heartbreak. The psychological impact can be
 long-lasting, leading to trust issues and difficulties in future
 relationships.


 Financially, victims suffer significant losses. Scammers may drain their
 victims' bank accounts, persuade them to take out loans, or even convince them
 to send large sums of money. The financial burden can be overwhelming, leading
 to debt, bankruptcy, and severe financial hardship.

<h5>
 City of London Police have confirmed that £92.8m was lost in the UK last year.
</h5>

 We continue the fight against romance scammers so people can protect their
 money and prevent long-term emotional and psychological damage from callous
 criminals.

<h5>Steps you can take to protect yourself:</h5>
<ul>
 <li>
 If your online connection asks you for money, they are likely a scammer.
 Stop contact right away and seek support.
 </li>
 <li>
 Don't send money, card, or bank details or important identity documents like
 your passport to someone you've only met online, no matter how long you've
 been messaging them.
 </li>
 <li>
 Be cautious of moving money on behalf of someone you haven't met. You may be
 roped into illegal activity such as money muling.
 </li>
 <li>
 Trust your instincts - If you feel like something is wrong, it may be.
 </li>
 <li>
 Reach out for a second opinion - if you are unsure, you can contact your
 bank, family and friends for their opinion.
 </li>
</ul>
<h5>Check the person is who they say they are.</h5>
<ul>
 <li>
 Take things slowly, ask lots of questions and watch for things that don't
 add up.
 </li>
 <li>
 Conduct research on the person by checking their digital presence to find
 out how active they are on various social media platforms.
 </li>
 <li>
 Perform a reverse image search of their profile photo and see if it belongs
 to someone else. You can do this by uploading a picture of the person you
 are talking to into your search engine to check that profile photos are not
 associated with another name or Google “reverse image search”.
 </li>
</ul>
<h5>Be careful what you share (and what you don't).</h5>
<ul>
 <li>
 Never send intimate pictures or videos of yourself to people you don't know.
 Scammers use these to blackmail people.
 </li>
 <li>
 Don't keep your online relationship a secret. Speak to people you know about
 it. It can be easier for others to spot the warning signs.
 </li>
 <li>
 Be careful about what you share about yourself online. Scammers can use
 information about your hobbies, job or family to target you.
 </li>
</ul>
<h5>Tips on how to spot a fake profile. They usually have:</h5>
<ul>
 <li>Photos that look too professional</li>
 <li>Very little personal information</li>
 <li>No connection to social media accounts</li>
 <li>Few comments, likes or shares on their social media from other people</li>
</ul>

 Romance fraud is one of the top five most commonly reported frauds to Action
 Fraud, the national fraud and cybercrime reporting service for England, Wales
 and Northern Ireland. Action Fraud also runs the National Economic Crime
 Victim Care Unit (NECVU), which provides support and advice to victims of
 fraud and to help prevent them from being victims of fraud again.

<blockquote>
 
 
 If you think you’ve been a victim of scam/fraud, contact your bank
 immediately and report it to Action Fraud online at actionfraud.police.uk
 or call 0300 123 2040.
 
</blockquote>
<h5>Keep yourself and your money safe.</h5>
References
<ol>
 <li>
 <a
 href="https://www.ukfinance.org.uk/press/press-releases/nearly-40-cent-people-looking-love-online-were-asked-money"
 target="_blank"
 rel="noopener"
 >https://www.ukfinance.org.uk/press/press-releases/nearly-40-cent-people-looking-love-online-were-asked-money</a
 > 
 </li>
 <li>
 <a
 href="https://www.cityoflondon.police.uk/news/city-of-london/news/2023/october/romance-fraudsters-break-hearts-and-bank-balances-with-92.8m-lost-in-the-uk-last-year/"
 target="_blank"
 rel="noopener"
 >https://www.cityoflondon.police.uk/news/city-of-london/news/2023/october/romance-fraudsters-break-hearts-and-bank-balances-with-92.8m-lost-in-the-uk-last-year</a
 >
 - Published on 02/10/2023
 </li>
</ol>

Keep your money safe.

This Valentine's Day, we at Kroo want to make sure you're in a healthy
 financial relationship. Our guide to spotting the four red flags of banking
 should help you avoid financial heartbreak and find a solid banking connection
 you can cherish.

<h5>Love bombing</h5>

 Did your bank come on strong from day one, luring you in with false promises?


 Unfortunately, some banks are motivated to shower new customers with cash
 rewards and attractive perks, only to catch you out with hidden fees once
 you're onboard. Find a provider who will love you long-term with a reliable
 offering.

<h5>Catfishing</h5>
Like your online date, your bank might not be as good as they appear.

 Banking agreements come with fine print, but watch out for hidden clauses that
 are looking to catch you out. A healthy banking relationship should be
 transparent and built on trust. That means no secret fees for cash withdrawals
 and no lurking charges for spending when you're abroad.

<h5>Not having your best interests at heart</h5>

 If your current account isn't earning interest, it's time to rethink your
 financial commitment.


 In a solid relationship, your partner will always have your best interests.
 The same goes for your bank. Our tracker interest rate is set 0.9% below the
 Bank of England's base rate on your current account, whether it goes up or
 down – so you always know what you’ll earn.

<h5>Poor listener – It's always about them, never you</h5>

 Your bank should be listening to your needs and adapting its offering
 accordingly.


 Has your bank asked you what you like about the experience so far? Have they
 asked you about what could make it better? Your banking experience should be
 about meeting your needs rather than theirs.


 Do you have a product idea or feedback to share with Kroo? We have a product
 idea box in-app, so share it with us there!


 This Valentine's Day, make sure your financial relationship is built on trust,
 transparency, and reliability.


 Taking a closer look at your banking relationship and spot these red flags? It
 might be time to switch!

A healthy financial relationship.

2024 has arrived, and how time flies. But as the days start to get (a
 little) longer, have you considered setting yourself some financial goals
 for the coming year and beyond?


 Whether saving for something big, paying off debt or just looking to get into
 healthy financial habits, now's the time to put your plan into action. And
 with our brand new feature, Kroo Pots, about to launch, you’ll have the
 perfect tool to separate your savings and make your goals happen.


 In this blog, we'll talk about some key tips and considerations for effective
 money management – take a look below.

<h5>Look back to 2023.</h5>

 Before taking steps to improve your financial wellbeing, it's essential to
 identify the areas that need attention. Take a look back at the past year.
 What sort of financial challenges did you face? Were you prepared for any
 unexpected costs?


 Having a clear understanding of your behaviour is key to setting realistic
 goals.

<h5>Set your financial goals.</h5>

 Once you've looked back, it's time to look forward. What changes are you
 looking to make? Is there something you want to save for? Perhaps a house or a
 holiday? Or maybe you want to clear some high-interest debt you've built up?


 It might feel a little intimidating at first, but once you've broken these
 goals down into smaller steps, it'll feel much more realistic.

<h5>Set your budget.</h5>

 It all starts with budgeting. Not the most thrilling subject, we know, but
 when you have a goal to aim for, it's well worth the effort.


 Spend some time creating a detailed budget of your incoming and outgoing
 funds. Write it down or create an Excel spreadsheet. Include your fixed
 expenses; these are your expenses that are the same every month (e.g. rent and
 bills), your variable expenses that may differ depending on the month (e.g.
 takeaways and clothing), and any savings you might already have.


 Try not to start by being too aggressive. The key to sticking to your budget
 is making it realistic in the first place. If you give it a few months and
 it's not working, review it and adjust.

<h5>Create a rainy day fund.</h5>

 Unplanned expenses happen. Your car breaks down, and there's a hefty bill. Or
 your dog gets sick, and insurance won't cover it—or even job loss.


 By creating a financial safety net, you keep your head above water, so you
 won't have to rely on loans or credit cards in the short term. Kroo Pots is
 the perfect feature for this.

<h5>Restructure your debt.</h5>

 Debt can be scary and feel unmanageable fast. But it doesn't have to be all
 doom and gloom. Take some time to review your outstanding debts, including
 credit cards, loans, and mortgages and consider your refinancing options. You
 might be able to pay down any high-interest debt by reborrowing elsewhere at a
 lower rate. This means you'll have more money left to save at the end of the
 month.

<h5>Review your outgoings.</h5>

 We all have a selection of outgoings every month that we pay blindly. Think
 Netflix, Amazon Prime or a rarely used gym membership. But if you think you
 can cull some of them, what are you waiting for?


 And while you're at it, why not consider a side hustle? If you've got stuff
 you can get rid of, check out Vinted, Depop or Facebook Marketplace and make a
 little extra cash.

<h5>Take a look at your credit score.</h5>

 The dreaded credit score... Be brave and take a look at yours. You'll find it
 can actually be really helpful when it comes to understanding your spending
 habits.


 A credit score shows lenders how likely you are to repay a loan on time –
 based on your history of using credit and managing finances. You can improve
 your credit score by paying back on time, which may increase the likelihood of
 getting a mortgage approved. Missing payments has the opposite effect.

<h5>Think about your retirement.</h5>

 For some of you, retirement might seem a long way off; however, future you
 will thank you for getting cracking with your preparations now.


 Consider increasing your contributions to take advantage of employer matches
 or tax benefits. It really is never too early to start saving for later in
 life.

<h5>Ask for help if you need it.</h5>

 Don't hesitate to ask for help when money worries weigh you down. Whether
 you're struggling to pay back debt or make ends meet, we're here to help you
 get a grip on your finances with support, suggestions and who to talk to.


 You can talk to us in the app chat or visit our
 <a href="https://kroo.com/support-is-here" target="_blank" rel="noopener"
 >support page</a
 >
 for more information.

<h5>It's all about taking control of the situation.</h5>

 It might initially feel daunting, particularly if you've avoided the subject
 for a while. But there's something satisfying in taking your finances by the
 scruff of the neck and getting a handle on them.


 Taking a proactive approach to your finances will pave the way for a more
 secure future. And remember, it's all about small, consistent efforts that can
 pay off down the line. Financial literacy is incredibly effective in money
 management, so spend some time learning how to make the most of your money now
 and long into the future.

Tackling your financial goals.

<h5>Kroo is aiming for 1000 hours of volunteering in 2024.</h5>

 Here at Kroo, we've always strived to be a caring bank that goes beyond
 finances and gives back to our local community and global causes, so much so
 that we've decided to dedicate a company goal to our volunteering efforts.

Our team aims to hit 1000 volunteer hours with nonprofits in 2024!

 When it comes to volunteering, we believe that by actively participating in
 and giving back to our community, we can foster meaningful connections, create
 a positive impact, and truly be a bank that reflects the values and needs of
 the people we serve. That’s why we’re thrilled to announce the launch of our
 partnership with corporate volunteering platform
 <a
 href="https://www.wearematchable.com"
 target="_blank"
 rel="noopener noreferrer"
 >Matchable</a
 >!


 Before creating our volunteering policy with Matchable, we were already
 actively engaged with
 <a href="https://foodforalluk.com/" target="_blank" rel="noopener noreferrer"
 >Food for All UK</a
 >, a food kitchen dedicated to helping people in need around London. Together,
 we helped prepare approximately 1000 meals for those in need. At the same
 time, we also provided a list of various volunteer opportunities, aiming to
 cater to varied interests and preferences in the team.


 Despite our genuine efforts, we encountered challenges. The available
 volunteering activities sometimes failed to align with our employees' diverse
 interests and values. 
 Establishing partnerships with local nonprofits and community organisations
 proved difficult, hindering our ability to offer a comprehensive range of
 volunteering options that could accommodate different skill sets and
 preferences. Additionally, we faced challenges with properly tracking employee
 volunteer hours and assessing the impact of their contributions.


 Recognising the need for a solution, we sought a partnership with Matchable to
 address these issues comprehensively. Matchable's platform helps us streamline
 our volunteering initiatives, offering a more tailored and flexible approach
 that aligns with our employees' diverse interests, values, skills and
 timetables!


 Already used by companies like Dentsu, Indeed Flex, GANT, Thriva, and The Bank
 Of London and The Middle East, Matchable is a trusted and award-winning
 platform reimagining employee volunteering. They have a reputation in the
 industry for skills-based volunteering projects that create as much as
 150x more impact for charities than traditional volunteering or corporate
 ‘pledges’. They have 1000s of innovative, resource-poor nonprofits on their platform
 looking for skilled volunteers to help them scale.


 A variety of the projects through Matchable also contribute to at least one of
 the UN’s Sustainable Development Goals, a shared blueprint for global peace
 and prosperity for people and the planet with specific 2030 targets committed
 to by all UN countries.

Misperi, partnerships manager at Matchable, commented:
<blockquote>
 
 “The passion for giving back that the Kroo team have shown already this
 year, and their ambitious goal of giving 1000 hours of their time to
 nonprofits, is really inspiring! They’ve already created over £85,000 worth
 of impact value for charities this year!”
 
</blockquote>

 Being a socially conscious bank is incredibly important to us and aligns with
 our values and missions. We actively encourage our employees to engage in
 volunteering opportunities that specifically contribute to environmental
 causes. Our team is currently focused on sustainability, homelessness, and
 wildlife, demonstrating our dedication to positively impacting the world
 around us.


 Pledging to give all of our employees paid volunteering time and access to the
 Matchable platform will allow us to support these causes in an even bigger way
 going into 2024!


 We have also partnered with
 <a
 href="https://onetreeplanted.org/"
 target="_blank"
 rel="noopener noreferrer"
 >OneTreePlanted</a
 >, a nonprofit organisation focused on global reforestation.
 When you open a Kroo current account, we’ll plant two trees on your
 behalf.
 These trees are planted in communities where their presence will make a
 positive impact, further supporting our commitment to a greener and more
 sustainable future.


 We’re excited to see what impact this partnership and our team can create
 through skilled volunteerism in 2024.

Team Kroo

Volunteering at Kroo.

As the festive lights twinkle and carols fill the air, the hustle and bustle
 of Christmas shopping takes centre stage. Amongst the Christmas chaos,
 distinct spender types emerge, each with a unique gift-giving approach.

What kind of Christmas shopper are you?
<h5>The Present Procrastinator</h5>

 Could this be you? 
 Always find yourself running around your local high street on Christmas Eve?
 Do you find it easy to get so swept up in the pre-Christmas fun that you
 forget what the holiday season is really about (the giving!)? You are the
 present procrastinator. One day, you’ll learn!


 There’s hope for you, yet. 
 Embrace the chaos and set a budget for your eleventh-hour spree. Remember, the
 thought counts... and maybe a dash of wrapping paper. It's a little late this
 year, but our Pots feature will be up and running in January 2024, giving you
 plenty of time to put a little money away for Christmas next year.

<h5>The Organised Elf</h5>

 Could this be you? 
 Is your Christmas list checked off by the time the decorations are up? People
 love to hate on the organised elf, but when it comes to the week before
 Christmas, and everyone else is pushing through the high street crowds,
 they’ll wish they were you. You have a list of what you plan to get everyone,
 and you most definitely have checked it twice.


 There’s hope for you, yet. 
 Keep your friends in financial check! You have probably already budgeted and
 organised your mid-year getaway using a debit card that charges zero fees when
 spending abroad, so make sure your mates are just as financially savvy as you.
 You've planned so well; you might as well plan their future, too!

<h5>The Christmas Splurger</h5>

 Could this be you? 
 You love treating your loved ones with bougie gifts, so you need that early
 payday in December to come as soon as possible! Who said making people happy
 was a crime, right?


 There’s hope for you, yet. 
 To ensure you don’t stretch too far into next year’s funds, make sure your
 bank is making your money work as hard as possible! With a top-tier 4.35% AER*
 interest rate, our current account means your money goes further.


 *4.35% AER/4.27% Gross (variable) interest on current account balances up to
 £500,000 paid monthly.

<h5>The Scrooge</h5>

 Could this be you? 
 Gift-giving isn’t your love language, and you see the holiday season as (dare
 we say it?) overhyped. Your friends and family know not to put out their
 stockings in the hopes of a gift from you this Christmas.


 There’s hope for you, yet. 
 How about surprising them this Christmas with a gift that only requires a few
 taps on your phone? Refer friends to Kroo, and you can earn up to £100!*
 You’ll receive £10 for the first 10 friends that successfully open a current
 account with us and spend with their card, and they’ll get £10, too. Plus,
 we’ll plant 2 trees on their behalf.


 *T&Cs apply, visit <a href="/">kroo.com</a> for more information.

<h5>The Savvy Shopper</h5>

 Could this be you? 
 You know where to find the best bargains, you are no stranger to Black Friday
 sales, and you won’t let your Christmas shopping break the bank.


 There’s hope for you, yet. 
 Chances are your bank account already gives you a stellar deal, so why not
 share the love and let your friends in on tricks of the trade? The gift of
 understanding how you can earn high interest on your deposits is priceless.


 No matter where you fall on the Christmas spending spectrum, 'tis the season
 to spread joy and cheer. We all have our way of approaching Christmas
 spending, and with a current account that has your back, you've got everything
 you need to navigate the festive financial frenzy.

Christmas budgeting tips.

Black Friday is a big deal. And not just for bargain hunters. Sales
 attract scammers, meaning you must take extra care when shopping online over
 the Black Friday and Cyber Monday weekend. People out there are eager to
 relieve you of your hard-earned cash, so think twice before snapping up that
 deal that sounds too good to be true.

<h5>78% of Authorised Push Payment cases originated online in 2022.</h5>

 Overall fraud losses (both authorised and unauthorised) totalled £1.2
 billion in 2022.


 Social media platforms, online marketplaces and auction websites are prime
 hunting grounds for scammers targeting unsuspecting shoppers with
 purchase scams. These are the most common types of authorised fraud and
 occur when someone is tricked into sending money directly to someone else’s
 account via bank transfer (also known as a Faster Payment) to buy goods or
 services that don’t exist and are never received.

<h5>More scams to look out for.</h5>

 Parcel delivery scams use deceptive text messages (SMS) linked to
 fraudulent websites that replicate legitimate retail or delivery sites.
 They’ll sometimes ask you to enter personal details and debit card
 information. They may then use this information to process unauthorised
 payments on your card. Or later, call you pretending to be your bank and ask
 for more information to help cancel the unusual transactions. Delivery scams
 are one of the most prevalent types of smishing text messages.


 Employment scams tend to spike around this time of year as unsuspecting
 victims seek additional income to cover Christmas expenses. Job advertisements
 like 'Financial Manager’ or ‘Payments Clerk’ claim you can make easy money
 with no qualifications or experience needed apart from having a bank account.
 Funds are transferred into the account, and a request is made to move the
 funds on in rapid succession. In doing this, the victim becomes a
 <a href="/blog/dont-be-a-donkey-or-a-mule" target="_blank" rel="noopener"
 >money mule</a
 >
 and is now involved in money laundering – a criminal activity.


 An advance-fee scam is when you’re convinced to pay an upfront fee to
 receive a prize/service, high-value goods or loans that never materialise.


 You're likely to be inundated with spam over email and social media this Black
 Friday, but be careful when clicking through on deals that come from
 suspicious sources (stores you've never shopped at before, for example).
 Always check that the link you clicked sent you to the website you expected to
 visit.

<h5>Be wary of social media and email deals.</h5>

 Scammers are getting more sophisticated by the day, and there’s no hard and
 fast way to guarantee you'll never get caught out by a dubious link. But you
 can minimise the risk by checking if the social media account or email address
 sending the link is genuine.


 Visit the site in a separate browser window to see whether you can find the
 same offer advertised, and be sure the offer you're looking at is the one
 that's promoted.


 Likewise, always use authorised sellers to buy goods, such as concert tickets.
 That bargain might sound seductive, but if it’s not from an authorised seller,
 it’s likely phoney and probably doesn't exist.

<h5>Protect your accounts.</h5>

 You need to do this year-round, but it doesn’t hurt to be a little more
 conscious of it around Black Friday weekend. Use strong, unique passwords for
 all your accounts (a dedicated password manager or your browser's password
 management system can help here), and turn on two-factor authentication on
 every account that offers it (Microsoft, Apple, Google, Facebook, and Twitter
 ones all do, for a start).


 Using that same password everywhere might be convenient, but it only takes one
 account sharing the same password to get exposed for everything to crumble. If
 you're using the latest versions of Chrome and Safari, you can use a strong
 password suggested by your browser.

<h5>Update your software.</h5>

 Big names in tech like Microsoft, Apple, Google, and Mozilla are always making
 changes to their programs and operating systems and always asking you to
 update! Being badgered might be annoying, but ignore the update at your peril.


 Today's browsers, apps, and operating systems spot scams as they happen,
 whether phishing emails (designed to lure you to a fake shopping or banking
 site) or unauthorised logins on your accounts. Ensure you're running the
 latest versions across the board, including the latest security patches.


 If your laptop is too old to run the latest versions of Windows or macOS,
 you'll be safer shopping on your phone if it runs the most recent Android or
 iOS updates. On Android, you can check for updates via System and
 System Update in Settings; on iOS, it's Settings and then
 General and Software Update.

<h5>Stop and think.</h5>

 Does something sound fishy? Does it not add up? Take a minute before you hit
 purchase.


 Remember, your bank will never ask you to withdraw or transfer money for
 safekeeping or because your account is at risk.


 Your bank will never ask you to download screen-sharing applications to your
 device.


 Your bank will never ask you for one-time passcodes, security credentials, or
 to confirm debit/credit card information.


 Verifying who you’re talking to using contact details which are known and
 trusted, whether that is your bank, your friends or your family, is vital.

<h5>Be aware. Be very aware.</h5>

 In the
 <a
 href="https://www.ukfinance.org.uk/system/files/2023-10/Half%20year%20fraud%20update%202023.pdf"
 target="_blank"
 rel="noopener"
 >first half of 2023</a
 >, Authorised Push Payment fraud had over 116,000 confirmed cases and an
 overall total of £580 million was stolen by criminals. So, taking precautions
 is a good idea, particularly during busy periods like Black Friday and Cyber
 Monday. It can be all too easy to get carried away in the run-up to Christmas
 and get complacent.


 Visit
 <a
 href="https://www.takefive-stopfraud.org.uk/"
 target="_blank"
 rel="noopener"
 >https://www.takefive-stopfraud.org.uk/</a
 >
 for further information.


 If you think you’ve been a victim of fraud, contact your bank immediately
 and report it to Action Fraud online at
 <a href="https://actionfraud.police.uk" target="_blank" rel="noopener"
 >actionfraud.police.uk</a
 >.

<ul>
 <li>
 <a href="https://twitter.com/TakeFive" target="_blank" rel="noopener"
 >@TAKEFIVESTOPFRAUD</a
 >
 </li>
 <li>
 <a
 href="https://www.facebook.com/TakeFiveStopFraud"
 target="_blank"
 rel="noopener"
 >@TAKEFIVESTOPFRAUD (FACEBOOK)</a
 >
 </li>
 <li>
 <a
 href="https://uk.linkedin.com/showcase/take-five-to-stop-fraud/"
 target="_blank"
 rel="noopener"
 >@TAKEFIVETOSTOPFRAUD (LINKEDIN)</a
 >
 </li>
 <li>
 <a
 href="https://www.instagram.com/takefivetostopfraud/"
 target="_blank"
 rel="noopener"
 >@TAKEFIVETOSTOPFRAUD (INSTAGRAM)</a
 >
 </li>
 <li>
 <a
 href="https://www.takefive-stopfraud.org.uk/"
 target="_blank"
 rel="noopener"
 >#StopChallengeProtect</a
 >
 </li>
</ul>

Be scam-savvy this Black Friday and Cyber Monday.

In June 2022, we were granted our UK banking licence. With that, we began the
 long journey to reimagine the app, transitioning from our origins as a fintech
 to becoming a fully licensed bank.

<h5>Beauty and functionality: The intersection of art and banking.</h5>

 The brand redesign was inspired by a powerful vision: the seamless integration
 of art and banking.


 This idea developed into the “installation concept” that envisions the product
 as a form of art on a pristine canvas where products are designed with utility
 in mind while also being a joy to use.


 Good design considers these two elements equally, turning an intuitive user
 interface into a captivating experience for our users.


 <img
 decoding="async"
 src="/blog/01-installation-concept.webp"
 alt="installation concept" />

<h5>Design principles: A foundation for simplicity and future growth.</h5>

 While functional, the previous app had grown cluttered with disproportionate
 concepts and colours. The new brand design starts with users’ needs in mind,
 distils the colour palette and champions a clean, intuitive interface.


 This more considered approach is a solid foundation for our more focused
 product strategy. It offers a flexible platform that seamlessly integrates new
 features as the financial landscape evolves.


 <img
 decoding="async"
 src="/blog/02-design-principles.webp"
 alt="design principles" />

<h5>Typography: A typeface tailored for digital.</h5>

 The brand redesign included a rethink of our typography. The previous font was
 designed primarily for printed materials and did not offer the versatility to
 support digital screens. The new sans-serif font, Inter, prioritises
 readability on small digital devices and large outdoor billboards, ensuring a
 consistent and pleasing user experience across various platforms.


 The new brand typographical strategy complements Inter with Brygada 1918, an
 oversized serif font that adds an elegant touch to headlines. 
 <img
 decoding="async"
 src="/blog/04-typography-1.webp"
 alt="typography one" /> 
 <img decoding="async" src="/blog/04-typography-2.webp" alt="typography two" />

<h5>Colours: A thoughtful and accessible palette.</h5>

 The new brand adopts a colour palette that enhances visual appeal while
 ensuring omnichannel accessibility to all users. A “Ghost White” canvas
 provides a subtle backdrop to our new two primary brand colours: “Trust Blue”
 and the “Love Pink”.


 Trust Blue embodies our integrity and solidity as a bank, while Love Pink
 features on our logotype signify moments of true joy and importance.

When you see these colours combined, you know you're in safe hands.
<img decoding="async" src="/blog/05-colours.webp" alt="colours" />
<h5>Accessibility: A pledge to inclusivity.</h5>

 Accessibility was a foundational pillar of our brand redesign process,
 especially when we reimagined our mobile product. The old app presented
 accessibility issues to our users, which have all been addressed in our
 redesign.


 The revamped Kroo app passes the AAA accessibility rating, ensuring a more
 inclusive and user-friendly experience. Working with developers, we've also
 improved the usability of screen readers.


 <img decoding="async" src="/blog/06-accessibility.webp" alt="accessibility" />

<h5>App icon: A symbol of our new identity.</h5>

 As the face of our digital banking experience, the app icon underwent its own
 transformation, reflecting our new identity. The icon now embodies the
 minimalist and considered approach to design and colour relationship, inviting
 users to explore. 
 <img decoding="async" src="/blog/07-app-icon.webp" alt="app icon" />

<h5>Debit card and card carrier design: Blending beauty and functionality.</h5>

 Our commitment to design also extends to the physical world. Beyond the
 digital experience on the app, we’ve reimagined our debit card and card
 carrier packaging.


 The new card carrier design harmonises form and function, presenting the new
 debit card as an object of desire.


 <img
 decoding="async"
 src="/blog/08-debit-card-and-card-carrier-design.webp"
 alt="Debit card and card carrier design" />

<h5>Future evolution: Prepared for tomorrow.</h5>

 Our design journey is in continuous evolution. We've built a reimagined
 digital experience with a keen eye on the future. The minimalist, scalable
 design of our website and mobile products enables us to integrate new features
 and technologies effortlessly, ensuring that the needs of our users remain at
 the forefront of banking innovation.


 Our latest brand redesign effort is more than just a fresh coat of paint; it's
 a transformation that mirrors our evolution from fintech to a fully licensed
 bank, with a focus on simplicity, accessibility, and future readiness.


 We're committed to providing our users with a banking experience that is as
 beautiful as it is functional, and we invite you to explore the new,
 reimagined world of Kroo with us.

Who you bank with matters.

 <img
 decoding="async"
 src="/blog/09-future-evolution.webp"
 alt="future evolution" />

Transitioning from fintech to bank.

What springs to mind when you think of the word ‘tracker’? Mortgages, right?
 Well, tracker interest rates have historically been associated with mortgages,
 yes. And that’s because the interest rate ‘tracks’ (i.e. moves in relation to)
 the Bank of England Base Rate.


 Now, consider how a tracker interest rate could be applied to your current
 account. Where the interest you earn tracks the Bank of England Base Rate.
 Sounds pretty innovative, right?


 That’s where Kroo’s trailblazing new tracker rate comes in. From 15 October
 2023 onwards, we’ll pay you a ‘tracker’ rate set at 0.90% below the Bank of
 England’s base rate, so you always know what to expect. This process will make
 it easier for you to know you’re getting a good, fair deal and fits with
 Kroo’s mission to make the banking industry simpler and more transparent.

<blockquote>
 
 “The discussion around interest rates has reached a saturation point, and
 we’ve recently seen banks raising their rates by tiny percentages for a
 limited period. This is simply a way to entice consumers looking to do the
 best thing for their money, but they could end up worse off in the long
 term.
 
 
 At Kroo, we want to take the guesswork out of the interest rate dilemma and
 provide a set rate to ensure customers know what they are getting each
 month. This means a fair deal – always.”
 
 Andrea de Gottardo, CEO Kroo
</blockquote>
<h5>How will it work?</h5>

 With a tracker interest rate, the interest you’ll earn on your Kroo current
 account will stay 0.90% below the Bank of England base rate, whether it goes
 up or down.


 We’ve provided a table illustrating how the tracker interest rate will work.


 <img
 decoding="async"
 src="/blog/chart.webp"
 alt="A table illustrating how the tracker interest rate will work." />


 So, whether the Bank of England raises or lowers its rate, we’ll change the
 interest rate we pay you within two Business days. We’ll let you know shortly
 after the rate changes by an in app message and by email.


 No limited-time offers or introductory deals – just a high rate up to £85k and
 a bank that has your back.


 Join Kroo today and start earning interest with a current account like no
 other.

An interest rate you can rely on

As a student, you get a taste of what life is like in the real world (well,
 sort of). You'll probably have your maintenance loan, some savings from a
 holiday job, or you might pick up a part-time job to fit around your studies.


 Regardless of how you get your money, paying rent, bills and buying food might
 be all new. So getting a handle on it from day dot is super important.

Take a look at our guide to financial life as a fledgling student:
<h5>1. Create a budget</h5>

 Sounds simple enough, but it only works if you stick to it. Understanding your
 income and outgoings is the key to savvy spending.

<img decoding="async" src="/blog/piggy-bank.webp" alt="piggy bank" />
What sort of income could you have?
<ul>
 <li>Maintenance loan (usually paid at the start of each term)</li>
 <li>Grants, bursaries, sponsorships or scholarships</li>
 <li>Money from your parents or other family</li>
 <li>Salary from a part-time job</li>
 <li>Savings from a summer job</li>
</ul>
What sort of outgoings do you need to factor in?
<ul>
 <li>Rent (including upfront costs like a tenancy deposit)</li>
 <li>Bills (e.g. water, energy and internet)</li>
 <li>A mobile phone contract</li>
 <li>Food and drink</li>
 <li>Travel</li>
 <li>Coursebooks</li>
 <li>Socialising</li>
 <li>Personal care (e.g. haircuts)</li>
 <li>Clothes</li>
 <li>One-off expenses</li>
</ul>

 Kroo’s spending insights feature is a really handy tool to help. It buckets
 your spending into different categories so that you can see what’s what.


 And if, after all that, you've got a little left over, you could put it into
 savings or keep it as an emergency fund.


 With a Kroo current account, you'll get all the benefits of our top-table
 interest rate combined with the flexibility of a current account. So your
 money is earning decent interest but isn't locked away.


 <img decoding="async" src="/blog/monthly-budget.webp" alt="monthly budget" />

<h5>2. Try to cut costs at uni</h5>

 There are lots of ways to save at uni if you’re struggling to get your budget
 to balance. Take a look below:

<ul>
 <li>Do food shopping in the evening when you’ll often find discounts</li>
 <li>Use store loyalty cards and coupons</li>
 <li>Get a railcard to save a third on train tickets</li>
 <li>Get cheaper train tickets and flights by booking early</li>
 <li>Make full use of student discounts (see more on this below!)</li>
 <li>Buy coursebooks second-hand</li>
 <li>Browse freecycle.org for free household items in your area</li>
 <li>Instead of shopping, organise a clothes swap with friends</li>
 <li>
 Shop around for the cheapest energy tariffs, phone contracts and
 accommodation
 </li>
 <li>Shop smart with student deals and discounts</li>
</ul>
<h5>3. Earn extra cash at uni</h5>

 Give your income a boost with some examples of how to earn while you learn:

<ul>
 <li>Get a part-time job at a shop, restaurant or bar</li>
 <li>
 Take part in market research, user testing, online surveys or mystery
 shopping
 </li>
 <li>
 Got a hobby or skill? How about a side hustle where you put it to work to
 become an influencer? Ask companies to pay you for promoting their products
 on social media, if you’ve got loads of followers that is
 </li>
 <li>Sell your second-hand books</li>
 <li>Sell second-hand items on eBay or homemade stuff on Etsy</li>
 <li>Sell old clothes on Depop</li>
</ul>
<img decoding="async" src="/blog/shopping.webp" alt="shopping" />
<h5>4. Make the most of student discounts</h5>

 Unidays is free to use and offers loads of discounts. Register with your
 student ID so you can start getting discounts on Asos, Urban Outfitters, gym
 memberships and more. See the
 <a
 href="https://www.myunidays.com/"
 target="_blank"
 aria-label="Unidays website"
 rel="noopener"
 >Unidays website</a
 >
 for a full list.


 Similarly,
 <a
 href="https://www.studentbeans.com/uk"
 target="_blank"
 aria-label="Student Beans website"
 rel="noopener"
 >Student Beans</a
 >
 offers loads of discounts on famous brands, so they’re always worth checking
 out.

<h5>5. Manage shared expenses</h5>

 Living in a house share means shared responsibilities. One person's name might
 be on the bill, but it's everyone’s responsibility to ensure it gets paid.


 Kroo's bill-splitting feature makes it way easier to stay on top of. Whether
 it’s making sure the utilities are paid on time, or splitting a big food shop,
 keeping track of who owes what is simpler than ever. All the maths is done for
 you.

<h5>Other tips for sticking to your budget:</h5>

 Budgets can be quickly forgotten on a night out or during exams. So we’ve put
 together some useful ideas for staying within your allowance:

<ul>
 <li>
 Put what you can afford to spend in your account when you’re going out
 </li>
 <li>
 Plan your meals and do a big grocery shop at the start of the week or month.
 </li>
 <li>Put money aside for essentials, so you’re less tempted to spend.</li>
 <li>
 If you’re unsure whether to treat yourself, wait a few weeks. If you still
 want it and can afford it, then go ahead.
 </li>
 <li>
 Watch out for scams. ‘Money muling' targets individuals with little cash
 flow looking to make fast money, so students are often targeted.
 <a href="/blog/dont-be-a-donkey-or-a-mule" be="" a="" donkey=""
 >Read our in-depth blog on what to look out for.</a
 >
 </li>
</ul>

Bye-bye, Bank of Mum & Dad

Heard of ‘money muling’? It's a type of money laundering that often targets
 individuals with little cash, particularly students.


 So, what are the signs to look out for, and what can you do if it happens
 to you?

<h5>Money muling 101</h5>

 Fraudsters need a go-between to launder money because transferring it into
 their account would lead the police straight to their door. The fraudster can
 keep themselves at arm's length by using a third-party bank account, recruited
 from witting or unwitting 'money mules'.


 Often, money mules are young people with little cash – students are a common
 target. They hand over their account details in exchange for a small financial
 reward. Alternatively, fraudsters might try the sympathy vote by claiming
 they’re desperate and need your help.


 It can seem innocent enough, but if it sounds too good to be true, it likely
 is.


 Money mule: Someone who lets criminals use their bank account for
 transferring money. Sometimes, the money mule isn’t aware of what’s happening
 and has been tricked into this activity because of an offer of payment or
 reward.


 Mule herder: A mule herder hires money mules. A mule herder may
 approach you online or even in person.

<h5>How does money muling work?</h5>

 It takes work to dupe individuals into becoming mules. Mule herders set up
 fake social media profiles and advertise easy ways to make fast money. Liking
 the post is often the first step. The herder will try to lure you in with
 manipulative language, creating a sense of urgency and pressure. Once agreed,
 the herder will transfer money to the mule and ask them to pass the funds on
 or withdraw them to give to someone else.

<h5>Is it a crime to be a money mule?</h5>

 Yes, it's a crime, even if you didn't realise you were doing it. Being caught
 as a money mule can result in imprisonment for up to 14 years.

<h5>How to protect yourself from a mule herder</h5>
<ul>
 <li>
 Stay vigilant and research all job offers. Stick to well-known job vacancy
 sites and avoid jobs only advertised on social media.
 </li>
 <li>
 Don’t accept money into your bank account if you don’t know where it
 originated.
 </li>
 <li>Don’t share your bank or log in details with somebody you don’t know.</li>
</ul>
If it sounds too good to be true, it probably is.
<h5>Is there anything else I should know?</h5>

 UK Finance and Cifas have started a partnership called ‘Don’t be fooled’ to
 raise awareness and support for students and young people to avoid being
 tricked into being a money mule. For more information and support, visit their
 <a href="https://www.moneymules.co.uk/about/" target="_blank" rel="noopener"
 >website</a
 >.


 If you feel you or a relative has been tricked into money muling, stop
 speaking to the herder, block their account, report them and contact
 <a href="https://www.actionfraud.police.uk/" target="_blank" rel="noopener"
 >Action Fraud</a
 >.

<h5>What should I do?</h5>
<ul>
 <li>
 If you or someone you know might have been approached, break off all contact
 with the individual and don't receive or move any money.
 </li>
 <li>
 Report it by calling Action Fraud, the UK’s national fraud and cybercrime
 reporting centre, via their
 <a href="https://www.actionfraud.police.uk/" target="_blank" rel="noopener"
 >website</a
 >
 or contact 0300 123 2040. In an emergency, call 999.
 </li>
 <li>
 Contact the HMRC Fraud Hotline quoting ref: IFMM23. You do not have
 to give your name or contact details unless you want to.
 </li>
 <li>
 If you see it online, click the button to report it to the social media
 companies to get it taken down.
 </li>
 <li>
 If you think someone you know is already involved, go to the
 <a href="https://www.actionfraud.police.uk/" target="_blank" rel="noopener"
 >Action Fraud website</a
 >
 for advice.
 </li>
</ul>

Don't be a donkey (or a mule)

<h5>Dreaded words no one wants to hear...</h5>
What have they seen? What should I do? How worried should I be?

 Data breaches impact everybody, and most of the time, there is little
 customers can do to prevent them.


 However, being vigilant and keeping your details under wraps will put you in a
 much stronger position. Here are a few things we recommend to take back a
 little control.

<h5>Understanding what details are at risk is the start</h5>

 Should a data breach occur, companies holding your details should contact you
 right away to explain the situation and what details have been shared. It's
 usually things like:

<ul>
 <li>Your name</li>
 <li>Your address</li>
 <li>Your gender</li>
 <li>Your date of birth</li>
 <li>Sensitive financial information, like your National Insurance number</li>
 <li>
 Any other information you've given the company, including messages and
 photos
 </li>
</ul>
<h5>So what can you do?</h5>

 If it's out of the ordinary, it's a red flag. Take a look below at our top
 tips for avoiding and managing a data breach headache.

<h5>Have your wits about you</h5>

 Be cautious of any emails, phone calls, or texts that sound suspicious,
 particularly from anyone claiming to be from your workplace, bank, HMRC,
 utility companies, or phone provider.


 Remember, just because they know your personal details doesn't mean they are
 legitimate.

<h5>Be wary of unplanned calls that don't add up</h5>

 Your bank is unlikely to call you unexpectedly. They will never ask you to
 move money or share personal details such as your PIN or password.


 And if your internet provider calls, they will never need you to log into your
 online banking or mobile banking app to ‘check’ if fraud has occurred.


 Also, remember that fraudsters can copy phone numbers, so the number they're
 calling from and even their caller ID can look legitimate. Feel free to hang
 up and call the company directly if you're concerned.

<h5>Check your credit file</h5>

 Stolen personal information allows fraudsters to set up bank accounts or
 borrow money in other peoples' names. New Direct Debits set up using your
 name, account number, and sort code are the ones to watch out for.


 Regularly checking your credit file makes it easier to spot anything that's
 out of the ordinary. You can do this with
 <a href="https://www.cifas.org.uk/pr">Cifas' Protective Registration</a>.

<h5>Be wary of links sent over email and text message</h5>

 Text messages or emails containing links can sometimes take you to fake
 websites where you'll be asked to enter personal information.


 If you're concerned, check with the company in question before sharing any
 data, especially if you receive the message unprompted.

<h5>Keep your money safe</h5>

 Kroo employees will never ask you to move your money to prevent fraud. If
 someone claiming to be from Kroo does, please contact us right away.


 This applies to all businesses that may contact you. If in doubt, hang up
 and contact them directly. This is the rule to live by.


 Here at Kroo, we continuously monitor our platform and raise alerts 24/7 in
 case there is anything that needs our attention. And we have a 24/7
 engineering rota that responds to alerts.

If a breach happens, this is what to expect from us:
<ul>
 <li>
 We'll contact you directly via our Kroo app or email you to inform you of
 the breach if your data has been impacted.
 </li>
 <li>
 Our support team will update you as soon as any additional information is
 available.
 </li>
</ul>

Data Breaches

Finally! The big trip you've been saving endlessly for is happening. You can
 almost feel the sand between your toes and the sun on your skin. But before
 you settle in with your first fruity beverage, it's a good idea to do a bit of
 financial planning and research. Sure, it sounds a bit square, but you don't
 want a nasty surprise exchange fee taking the shine off your exotic getaway.


 We've put together some tips to help you stay on top of your spending in a
 foreign land.

<h5>1. Create a travel budget</h5>

 Budgeting really is an essential part of your travel plan. Do some research
 about the area you're thinking of visiting. It will help you to understand how
 far your money will stretch. Many places are cheaper than the UK, but some are
 more expensive (believe it or not!).


 Think about what you'll be spending your money on. Food, sightseeing and
 shopping all add up fast. The more planning you do, the easier you'll be able
 to stick to your budget.

<h5>2. Get some foreign cash before you leave</h5>

 This is a great idea, particularly if you're going somewhere new. Having some
 local currency for cab fare or a snack at the airport will make your life
 easier. And it saves you the trouble of looking for an ATM that won't charge
 you through the roof.


 You can do this at your departure airport, or if you're super organised, you
 can spend a little time researching rates before you leave.

<h5>3. Beware of the withdrawal fees</h5>

 We've all been there. We go to pay and are greeted with the infamous phrase,
 “Cash only.” Cue a mad dash to the nearest ATM. But wait. Sure, ATMs abroad
 are the easiest source of cash, but many of them will charge you a transaction
 fee.


 With Kroo, we won’t charge you a penny extra for using your Visa debit card on
 purchases abroad. And you can say farewell to ATM fees from 1 April 2023 to 31
 October 2023.


 But do bear in mind that the bank you withdraw from might charge you, so shop
 around if you can.

<h5>4. Get real-time exchange rates</h5>

 Once you've found an ATM with no or low fees, there’s no need to worry about
 getting a rubbish exchange rate. With Kroo, we pass Visa’s real-time exchange
 rate directly onto you – no hidden fees or markups.


 Also, remember that it’s generally better to withdraw your funds in the local
 currency. And pay in the local currency when you tap your card too.

<h5>5. Stay on top of shared expenses</h5>

 Splitting expenses can be a headache when going on holiday with friends. No
 one wants to be penny-pinching, but at the same, it's only fair everyone pays
 what they owe.


 Kroo's Groups feature makes splitting, tracking and settling the bill easier
 than ever. So no more haggling over who had what, where and when.

<h5>6. Keep your money safe</h5>

 Losing your wallet is always a nightmare, but it can be particularly stressful
 abroad. And if it has been stolen, reporting it can be a challenge.


 Sorting out travel insurance before you depart can be a big help. But in the
 short term, you can quickly freeze and unfreeze your card on the Kroo app at
 the tap of a button. So you'll have some peace of mind while you get it
 sorted.

Travelling with Kroo

<a
 href="https://www.internationalwomensday.com/"
 target="_blank"
 rel="noopener"
 >#InternationalWomensDay2023</a
 >
 is all about embracing equity. To celebrate this, we want to amplify the
 voices of five female leaders at Kroo who are smashing through the glass
 ceiling.


 Hear their perspectives on women in tech, how Kroo is tackling barriers and
 the future of women in business.

...

 <img
 loading="lazy"
 decoding="async"
 src="/blog/angela.webp"
 alt="Angela Wakelin, Chief Operating Officer"
 width="270"
 height="240" />

<h5>Angela Wakelin, Chief Operating Officer</h5>
What does International Women’s Day mean to you?

 International Women’s Day is a great reminder to ensure we champion equality
 in all aspects of life but especially in the workplace. It’s a day to
 highlight the fantastic qualities and achievements that women bring to our
 society and how important their differences are in building successful and
 diverse communities.

Why do you think diversity in the workplace is so important?

 The best businesses are built on the principles of diversity and respect for
 different perspectives. Healthy teams enable constructive challenge that comes
 from individuals having different ideas and beliefs that they are passionate
 about. Then finding that common ground that they all align to.


 What strategies can work well to promote inclusion in the workplace?


 Having very apparent diversity and inclusion at the very senior levels of an
 organisation is one way that will help to promote this through the workplace.
 In terms of attraction and recruitment, individuals need to clearly see that
 this is a business that supports diversity and inclusion at every interaction
 which should be clear in job adverts and throughout the interview process.


 What advice would you give to the next generation of female leaders?


 Be ambitious for yourself. Ambition can often be misinterpreted in women, and
 I strongly believe it should be encouraged and nurtured. Women so often lack
 the confidence to progress and excel in the workplace and often need
 encouragement and support to overcome this.


 This year’s International Women’s Day theme is #EmbraceEquity, what does
 this mean to you?


 This is a reminder that we should all embrace the differences that women bring
 to the world, in the same way as we should respect and celebrate all aspects
 of a diverse and inclusive culture. We all bring our own special qualities to
 this world which are individual and unique.

...

 <img
 loading="lazy"
 decoding="async"
 src="/blog/moyra.webp"
 alt="Moyra O'Doherty, Chief of Staff"
 width="200"
 height="300" />

<h5>
 Moyra O'Doherty, 
 Chief of Staff
</h5>
What does International Women’s Day mean to you?

 It’s a day to remember and celebrate the women in our lives - the women who
 have raised us, the ones we are raising, and the ones we love, look up to or
 lean on. It’s a day for all us to recognise and celebrate the women who have
 positively impacted us.


 Why do you think diversity in the workplace is so important? 
 A diverse workplace nurtures challenges and different ideas. It sparks new
 ideas and innovation and it is key to ensuring our business connects with and
 represents the customers we strive to serve.


 What strategies can work well to promote inclusion in the workplace?


 It’s critical to build inclusivity into our everyday thinking and work. We
 need to notice the diversity, or lack of it, during discussions and decisions,
 and take positive steps to make the changes if they are needed.  Improving
 inclusivity is not just a leadership challenge; we need to tackle it in our
 everyday thinking and behaviours to really drive change.


 What advice would you give to the next generation of female leaders?


 Aim to inspire the generation of female leaders that follow you. I think of
 the women who have inspired my career, their journeys and achievements
 demonstrate to me that I can do it too. We need to raise each other up and
 think about how we can encourage and inspire the women in our lives.


 This year’s International Women’s Day theme is #EmbraceEquity, what does
 this mean to you?


 Recently I was reminded of the power of a female role model. My 8 yr old
 niece, Caragh, was at long-jump practice and there was a female professional
 jumper training on the same track. The professional gave a few tips to the
 youngsters and Caragh was in awe. That morning she tried her hardest and
 achieved her longest jump. For me, International Women's Day is a reminder to
 embrace the idea that I can inspire the next generation and that it is
 something to aim for every day at work in Kroo.

...

 <img
 loading="lazy"
 decoding="async"
 src="/blog/joanna.webp"
 alt="Joanna Pesantez, Head of Compliance"
 width="233"
 height="300" />

<h5>
 Joanna Pesantez, 
 Head of Compliance
</h5>
What does International Women’s Day mean to you?

 Growing up in Poland, International Women’s Day was one of the most important
 days in the calendar. It went beyond guaranteed sweets and flowers always
 provided by Dad and Grandad or the obligatory school performance from somewhat
 reluctant male school friends. It was about the feeling of solidarity with
 other women and girls, a shared understanding of what being a woman means, and
 all challenges and joys it brings.

Why do you think diversity in the workplace is so important?

 Diversity isn't just a nice-to-have, it's a must-have. And it must go hand in
 hand with real inclusion. And in addition to it driving a positive change, it
 leads to better results. Having input from people with different backgrounds
 and experiences means better understanding, culture and approach to
 problem-solving, on all levels.


 What is the most important piece of advice you have been given in your
 career?

Success leaves a void, always look for new challenges.

 What advice would you give to the next generation of female leaders?


 Don’t accept the status quo, and always question the fairness of things. It is
 crazy to think how many things were considered acceptable even 10 years ago.


 This year’s International Women’s Day theme is #EmbraceEquity, what does
 this mean to you?

Driving success for all.
...

 <img
 loading="lazy"
 decoding="async"
 src="/blog/nicola.webp"
 alt="Nicola Vidal, Head of Marketing"
 width="200"
 height="300" />

<h5>Nicola Vidal, Head of Marketing</h5>
What does International Women’s Day mean to you?

 IWD is an opportunity to celebrate women’s achievements, whether social,
 economic, cultural or political. However, there is still so much more to do,
 here we are in 2023 and we see a lot of inequality at work, in politics and in
 social and cultural environments. Let’s champion females and make a change.

Why do you think diversity in the workplace is so important?

 Let’s face it, women and men are different which means they approach work and
 the workplace with different perspectives, ways of working, how they build
 relationships, etc. These differences should be taken into account when making
 decisions, employing staff, creating policies, and so on. In this day and age,
 it is proven that both genres are able to do the job equally, so they should
 be rewarded equally too.


 What is the most important piece of advice you have been given in your
 career?


 Be you, don’t change who you are or how you present yourself just because you
 are a female.


 What advice would you give to the next generation of female leaders?


 Believe in yourself, and ignore those that tell you you can’t have it all. You
 can have a career as well as a family and you can make a difference. Don’t
 feel guilty for setting work/life boundaries and goals. Don’t be intimidated
 by a room full of males, you are where you are because you have proven
 yourself regardless of your gender

...

 <img
 loading="lazy"
 decoding="async"
 src="/blog/raphaelina.webp"
 alt="Raphaelina Arthur, Head of Financial Crime & DMLRO"
 width="293"
 height="300" />

<h5>Raphaelina Arthur, Head of Financial Crime & DMLRO</h5>
What does International Women’s Day mean to you?

 International Women’s Day is a wonderful opportunity and a reminder to
 celebrate the achievement of those who have championed the cause for equality
 in all facets of life whether it is cultural, social, economic or political.
 As well as an opportunity to continue to drive forward change and bring
 awareness to the cause.


 What is the most important piece of advice you have been given in your
 career?


 This is not advice I’ve been given but something I read. Women are generally
 “socialised to be perfect” (Reshma Saujani), agreeable and liked. This results
 in women often avoiding risk and making decisions that we think others would
 agree with. We have to understand and accept that ultimately not everyone is
 going to like you or agree with your decisions. And that's okay. Be yourself!


 What advice would you give to the next generation of female leaders?


 Keep your focus on the big picture and the vision. Keep integrity at the core
 of your decision-making. Don’t let the fear of failure or the risk of getting
 it wrong stop you from becoming successful.


 This year’s International Women’s Day theme is #EmbraceEquity, what does
 this mean to you?


 Embracing equity means acknowledging and taking action. As a woman in
 leadership, in particular from an ethnic minority and a low socioeconomic
 background, you have the 
 ability to influence and drive change in your sphere and beyond. Embracing
 equity is not simply passive. It is continuously choosing to advocate, remove
 barriers to entry and provide opportunities which ultimately support the
 attainment of a diverse and inclusive ecosystem.

International Women's Day 2023

New Year’s money resolutions starting to slip? Don’t stress! Today is
 International Break Up Day (yes, it’s really a thing) which marks the perfect
 time to break up with the things that are getting in the way of your financial
 goals.


 You might be reminiscing on a time when you ended a relationship with an ex
 who wasn’t the right fit or shut down a friendship you were better off without
 (sorry!). Breakups can be tough, but they’re not all bad and are often a great
 opportunity to start fresh and find that which is more suited to you.


 If you’re ready to take back control of your finances, follow our guide to
 help kick your bad banking habits to the curb once and for all.

<h5>Going through your phone</h5>

 Keeping an eye on your bank balance and monitoring transactions can be a bore,
 but failing to do so can be costly. If you don’t regularly check your account,
 it can be easy to neglect your budget or go overdrawn without realising.


 Get into the habit of tracking your spending by checking your balance every
 few days, or turn on Kroo notifications so you can make more informed choices.

<h5>Check those charges</h5>

 If you’re avoiding tracking your spending like you’re avoiding your ex, you’re
 likely not noticing the extra costs associated with your account use.


 Monthly account fees and overseas transactions fees can add up, so being aware
 of them and factoring them into your spending will help. With a Kroo current
 account, debit card spending is free overseas as we pass Visa’s real exchange
 rate directly to you.

<h5>Where does your money spend the night?</h5>

 There’s no such thing as free money – but keeping your money in a current
 account that gives you interest is a simple way to grow your funds without
 lifting a finger.

Don’t miss out on earning on your average balance.
<h5>Turn IOU into I ❤️ U</h5>

 Covered the cost of a mate’s coffee but feel stressed asking for the money
 back? Join the club. There’s nothing worse than having to ask friends or
 family for money that you’ve lent them, especially when it’s only a small sum.
 Although this can feel pretty uncomfortable, it’s better than being out of
 pocket during a time when every penny counts.


 The split bill feature on the Kroo app helps make this process much less
 awkward. You can easily find friends through their phone numbers and send and
 request money instantly.

<h5>Compatibility test</h5>

 Reviewing your subscriptions is a great way to weed out any you can cut. You
 wouldn’t want to put energy into a relationship that isn’t giving it back to
 you, so why would you pay for a subscription or extra phone data you’re not
 using?


 It sounds simple, but taking the time to pluck out unnecessary expenses is a
 great way to save money. It may seem like a lot when you’re cutting them out
 one by one, but a £5 monthly subscription adds up over the year, and when the
 cost of everything seems to be rising, that makes a difference.

Time to break up with your bad banking habits

<h5>Top tips for budgeting:</h5>
<ol>
 <li>
 Ease into the habit. Secrets out, budgeting is as crucial as your
 maths teacher warned. Start small and work your way up. Looking at your bank
 account and seeing where you may be overspending will help you become more
 aware of your money habits and ease you into more challenging aspects of
 managing your finances.
 </li>
 <li>
 Make space for the things you love. Being more intentional with
 spending your hard-earned money sounds simple, but by separating your
 purchases into “wants” and “needs,” you'll see how your habits need to
 change for the better. Too many takeaway coffees? Another plant? You'll be
 surprised at how much all those little “wants” add up.
 </li>
 <li>
 It's time to talk. You'd go to your friends for relationship advice
 or tell them about that person making your life hell at work. But sometimes,
 talking about money can feel embarrassing. It shouldn't be. Ask your friends
 and family how they save. Suggest a spend-free activity when things are a
 bit tight before payday. Tell them about your financial goals. They may have
 some good advice – or they'll at least make you feel a bit better.
 </li>
 <li>
 Turn it into a challenge (the good kind). Let's face it: budgeting,
 sorting bills and making spreadsheets isn't most people's idea of fun. But,
 by breaking it down into simple challenges like saving £5 a week, you'll
 make it manageable – and you'll be surprised by how much it adds up to over
 the year. Get your friends to join you and keep each other accountable.
 </li>
 <li>
 Cull your subscriptions. If it doesn't make your life easier or
 happier – cancel it. Whether it's the gym membership you haven't used for
 six months or the streaming service that didn't renew your favourite show,
 it's time to cut those useless subscriptions out of your life (and your bank
 balance). Kick them to the curb, and see how much that saves you throughout
 the year.
 </li>
</ol>

5 budgeting tips you can start today

The cost-of-living crisis has seen a spike in scammers across the UK, with
 over 40 million people affected. And according to Citizens Advice,
 <a
 href="https://www.citizensadvice.org.uk/about-us/about-us1/media/press-releases/over-40-million-targeted-by-scammers-as-the-cost-of-living-crisis-bites/"
 target="_blank"
 rel="noreferrer noopener"
 >12% of these scams are related to energy.</a
 >


 Scammers are professionals and can often seem legitimate. They take advantage
 of things like financial stress and target vulnerable people. With the
 increasing cost of energy impacting the entire country, fraudsters are
 capitalising on this opportunity to strike.


 We’ve put together some simple steps you can take to protect yourself and
 those around you.

Let’s take a look.
<h5>What exactly are energy scams?</h5>

 Energy scams involve people impersonating energy companies or government
 agencies to get your money or personal information.


 They can use grants, promises of cheap energy, and renewable energy claims to
 manipulate you into handing over information.

There are many ways scammers might get in contact with you, including:
<ul>
 <li>Text message</li>
 <li>Email</li>
 <li>Social media.</li>
 <li>Website pop-up.</li>
 <li>Phone call</li>
</ul>
<h5>What are some of the most common types of energy scams?</h5>
Energy rebate scams

 Fraudsters have recently been using the £400 government energy bill rebate to
 trick people into handing over their personal information. They’ve also been
 advertising large sums of available financial support to vulnerable people.


 If you qualify for the £400 government support, it will be automatically
 applied to your account. You don’t need to hand over any information to
 anyone.


 Starting in October 2022, the discount will be applied to your monthly
 household electricity bill automatically for six months.


 Head to the
 <a
 rel="noreferrer noopener"
 href="https://www.gov.uk/guidance/getting-the-energy-bills-support-scheme-discount"
 target="_blank"
 >government website</a
 >
 for more information.

<h5>Ofgem energy scams</h5>

 A fraudster might contact you posing as an official from the energy regulator,
 Ofgem. They may request that you change your bank account information or
 provide personal information to receive funding or low-cost energy.


 Ofgem will never ask for personal information, and there is no need for you
 to do anything to save £400 on your energy bills this winter. Ofgem will
 never sell you energy or visit your home.

Energy efficiency and home improvement scams

 A scammer may claim that your home is unsafe and that changes are essential to
 protect you and your family.


 This should not happen, so contact Citizens Advice or speak to a qualified
 and accredited professional if you have any worries.

<h5>How to recognise an energy scam</h5>

 The best way to spot an energy scam is to be prepared and know what to look
 for. Spotting the red flags is the best way to keep your personal information
 safe.


 Energy scammers frequently impersonate government websites. Often they can
 look convincing, but look out for spelling errors or a URL that looks
 different or suspicious.

Also, keep an eye out for:
<ul>
 <li>An offer appears to be far too good to be true</li>
 <li>Pressure to transfer funds as soon as possible</li>
 <li>Requests for personal information such as passwords or PINs</li>
 <li>Unexpected payments</li>
 <li>Suspicious claims</li>
</ul>
<h5>What should you do if you suspect a scam?</h5>

 If you suspect a scam but have not yet provided any personal information or
 money, you can seek help from Citizens Advice.


 If you’ve given your personal information or made a payment, you should
 contact your bank immediately. You should also notify
 <a
 rel="noreferrer noopener"
 href="https://www.actionfraud.police.uk/reportscam"
 target="_blank"
 >Action Fraud</a
 >
 and
 <a
 rel="noreferrer noopener"
 href="https://www.citizensadvice.org.uk/consumer/scams/reporting-a-scam/"
 target="_blank"
 >Citizens Advice</a
 >
 about the scam. That way, you can help reduce the chances of someone else
 being defrauded.

Keep your money safe from fraudsters

As winter rapidly approaches, we’re all starting to feel the pinch. Big bills
 mean big spending is out of the question for many of us. That’s why we’ve put
 together a list of awesome activities you can do with the little ones this
 half term.

And the best part? They won’t cost you a penny.
<h5>Guiding Lights – Saturday, October 22 - Sunday, October 30</h5>

 The National Maritime Museum’s free October
 <a
 href="https://www.rmg.co.uk/whats-on/national-maritime-museum/guiding-lights-october-half-term-activities"
 data-type="URL"
 data-id="https://www.rmg.co.uk/whats-on/national-maritime-museum/guiding-lights-october-half-term-activities"
 target="_blank"
 rel="noreferrer noopener"
 >half-term activities</a
 >
 focus on light and are loosely inspired by Diwali. Create your own shadow
 puppets, learn about the importance of lighthouses, and find out what people
 used before the invention of sunglasses.

<h5>Frieze Sculpture Park – Until Sunday, November 13</h5>

 Whether your kids are little and love a treasure hunt or older and are
 interested in art,
 <a
 href="https://www.frieze.com/article/open-now-frieze-sculpture-2022"
 target="_blank"
 rel="noreferrer noopener"
 >Frieze Sculpture Park</a
 >
 is a great idea for a free walk in the great outdoors. There are 29 large
 artworks dotted around Regent’s Park, so keep your eyes peeled.

<h5>Voices in action – Sunday, October 23</h5>

 <a
 href="https://www.southbankcentre.co.uk/whats-on/family-young-people/voices-action?eventId=919127"
 target="_blank"
 rel="noreferrer noopener"
 >Voices in Action</a
 >
 is a day of storytelling, workshops and performances designed to show young
 people how their voices can make a difference in the world. Aimed at age 5+.

<h5>Ocean Explorers – Monday, October 24 - Sunday, October 30</h5>

 Hammersmith shopping centre welcomes
 <a
 href="https://www.livat.com/en/hammersmith/events/the-ocean-explorers-hub"
 target="_blank"
 rel="noreferrer noopener"
 >Ocean Explorers Hub</a
 >
 for half term week to teach children about the ocean. Games, crafts, and a
 trail around the centre all feature, as well as sensory sessions involving
 shells and sand.

<h5>Last Chance Museum – Until December</h5>

 <a
 href="https://www.museumoflondon.org.uk/museum-london"
 target="_blank"
 rel="noreferrer noopener"
 >The Museum of London</a
 >
 is relocating to Smithfield soon, so check out its current location while you
 still can. Free exhibitions cover topics from footballer Harry Kane to the
 history of Grime music, alongside the museum's incredible permanent
 collection.

5 free kid-friendly activities in London this October half term.

Maybe you’ve never tried budgeting. A
 <a
 href="https://www.experian.co.uk/consumer/guides/good-credit-score.html"
 target="_blank"
 rel="noreferrer noopener"
 >credit score</a
 >
 is something other people have. Muddling through has just been your way of
 money management. And it’s worked out ok so far, right? But this is different.
 The cost-of-living crisis is starting to sound a bit scary. Inflation is
 creeping up and big energy bills are looming. No one is really sure what to
 expect.


 Well, to mark Mental Health Awareness Week, we’ve put together a few
 suggestions for how you might be able to lower the stress levels. They’re not
 full-blown solutions (we wish they were), but they should hopefully help you
 feel more in control.


 Money has an annoying habit of disappearing when you’re not looking. Keeping a
 closer eye on it pays off. Here’s some ideas:

<h5>Pay yourself a weekly salary</h5>

 Sounds a bit strange but bear with us. If you’ve noticed that money gets
 really tight towards the end of the month, then this is a great way to spread
 the wealth… literally. After you’ve paid for your essentials (rent, bills &
 travel), work out what you can realistically spend each week. Leave a bit of
 contingency, just in case. Then transfer that money into your spending account
 each Monday.


 You could even set up a second account with a standing order. Then you haven’t
 got the ‘I forgot’ excuse…

<h5>Try not to dip into your savings</h5>

 Saving money during these strange times might seem totally unrealistic. And
 for many of us, it is. But if you’ve been working hard over the years to
 squirrel away some money for the future, try not to touch it now. Adjusting
 your lifestyle may seem like a drag, but it’s better than propping it up with
 savings.


 Maybe you could open a savings account so that you can earn interest. Take a
 look at this guide to the
 <a
 rel="noreferrer noopener"
 href="https://www.which.co.uk/money/savings-and-isas/savings-accounts/what-are-the-different-types-of-savings-account-agbbq6x1ls23"
 target="_blank"
 >different types of savings accounts</a
 >, and how to find the right one for you.

<h5>A little goes a long way</h5>

 Most bank accounts offer a ‘save the change’ style option. It’s a great way to
 save small amounts that add up without you really noticing. You can apply it
 to your spending on your account. Then, every time you make a purchase, your
 bank will round the amount up to the nearest pound and transfer the difference
 into your chosen savings account.

It’s only little amounts, but it can add up fast.
<h5>Get comfortable splitting bills</h5>

 Fun friends are great and all that, but when you’re trying to keep to a
 budget, it can be struggle. With Kroo’s bill splitting feature, it’s simple to
 pay what you owe. We know it can be a little awkward being fussy about the
 bill, but we need to normalise it in this strange world we live in.

That way, you won’t get shafted when Dave orders lobster…
<h5>Force yourself to take stock</h5>

 Money management doesn’t work if you bury your head in the sand. Force
 yourself to take some time to get your finances in order. The more often you
 do it, the quicker it will be.

<h5>Take control</h5>

 We hope that’s been useful. As we said, these aren’t solutions, but they
 should help to make things a little easier to digest. Money is a lot less
 scary once you’re on top of it. Knowing where to start is the hard bit.

How to tackle money worries

About one in six adults suffers from a common mental illness in the United
 Kingdom<a
 href="https://webarchive.nationalarchives.gov.uk/ukgwa/20171010183932tf_/http://content.digital.nhs.uk/catalogue/PUB21748/apms-2014-full-rpt.pdf"
 >1</a
 >, such as depression, generalised anxiety disorder (GAD), panic disorder,
 obsessive-compulsive disorder, or post-traumatic stress disorder (PTSD)<a
 href="https://www.nice.org.uk/guidance/cg123/ifp/chapter/common-mental-health-problems"
 >2</a
 >. Oftentimes, these struggles can end up affecting every aspect of an
 individual’s life — cancelled plans with friends or family, missed days at
 work, sleepless nights, and a host of other negative effects that are
 detrimental to one’s wellbeing.


 Over the last decade, conversations about mental health have helped to improve
 social support for — and acceptance of — individuals suffering from mental
 illnesses<a
 href="https://www.nbcnews.com/better/lifestyle/mental-health-how-we-ve-improved-where-we-need-do-ncna1108721"
 >3</a
 >; however, such conversations did not see such widespread acceptance in the
 workplace until much more recently.


 Due to mandated COVID-19 mitigation measures, companies had to quickly adapt
 and implement procedures to best support their employees in new remote work
 environments, such as at their kitchen table or in their new, makeshift,
 spare-bedroom-turned-home-office setups.


 With these changes, came a newfound acceptance of mental health conversation
 in the workplace and employers taking more action to support their employees
 during such tumultuous times — many opting to create mental health and
 wellbeing protocols and to implement personal health days<a
 href="https://hbr.org/2021/10/its-a-new-era-for-mental-health-at-work"
 >4</a
 >. Some organisations went as far as to partner with mental health agencies to
 get their employees the help they need when they need it, which is what we’ve
 chosen to do.


 Early this past December, we (our People Team here at Kroo) revealed a new
 partnership with <a href="https://www.spill.chat/">Spill</a>, a wellbeing tech
 startup that aims to provide comprehensive mental health support for
 employees. According to their website, Spill “provides therapy sessions,
 manager mental health training, and regular feelings check-ins — embedded into
 your company’s Slack.”


 Based on the outcomes reported on their website<a
 href="https://www.spill.chat/"
 >5</a
 >, the interventions appear to be working. Spill’s one-off therapy sessions
 boast an impressive rating of 9.3/10, which is based on over 10,000 client
 experiences. They also state that, on average, participants experience a 52%
 reduction in anxiety and a 43% reduction in depression, as measured by
 standard NHS evaluations.


 Internal interviews with our employees appear to lend support for Spill’s
 reported statistics. After having a one-off session with a Spill counsellor,
 one employee wrote:


 I was feeling a bit overwhelmed with work and home life and I could feel some
 of my old ways of thinking creeping back in. So I booked a session. It was
 super easy to book, the counsellor I spoke to was really friendly and didn’t
 judge me. I felt good knowing I had taken some action myself and he was able
 to give me some tips to actively put into my daily life to help with my
 thought process. I really feel like it’s a great service and it’s a comfort
 knowing that Kroo takes mental wellbeing seriously.

If you’re experiencing mental health distress or need urgent services:
<ul>
 <li>call 999 or go to an A&E if someone’s life is at risk</li>
 <li>call 111 for non-emergent but urgent advice or GP appointments</li>
 <li>
 call 116 123 to talk to
 <a
 href="https://www.samaritans.org/ireland/how-we-can-help/contact-samaritan/"
 >Samaritans</a
 >, or email <a href="mailto:jo@samaritans.org">jo@samaritans.org</a> for a
 reply within 24 hours
 </li>
 <li>
 speak to your GP about a referral to
 <a
 href="https://www.nhs.uk/service-search/mental-health/find-a-psychological-therapies-service"
 >NHS psychological services</a
 >, or refer yourself directly for help
 </li>
</ul>

Mental Health: A Priority, Not a Benefit

You can now easily schedule payments with the Kroo app! We heard from Kroo
 users that this was an important feature to help stay on top of monthly bills,
 subscriptions and other recurring debits. We hope this new feature offers
 financial transparency to help make monthly budgeting and saving a bit easier.


 Easily see the frequency, amount, final payment total, next payment date and
 final payment date from the scheduled payment transaction details. Visit the
 new “Scheduled payments” tab to see all of your upcoming payments.


 It’s simple to get started with scheduled payments. Open the Kroo app and tap
 “send” to create a payment as normal. You’ll select a recipient or add the
 correct details for your payee. Then, on the “bank transfer” screen you’ll
 find a new field called “when”. Click this field to select the date of the
 payment, the frequency of payments and an end date (optional).


 Cancelling and editing scheduled payments is just as easy. Just navigate to
 your new “scheduled payments” tab on the home screen, select the scheduled
 payment you’d like to update or end and click on it. From there, you’ll find
 the “edit” button. You can make an edit or cancel your scheduled payment at
 any time in only a few clicks.

That’s scheduled payments sorted with Kroo!

Scheduled Payments from Kroo

Positive social and environmental causes are key to what “giving back” looks
 like at Kroo. We believe that banks can be an agent for good and that we
 should be actively seeking to make our positive impacts go further. Pre
 pandemic it was decently easy to get Kroo team members together. Our team is
 mostly located in London and happy to meet up, whether it be for hanging out
 in the office for a round of games or giving back our time to different
 organisations.


 But now with the third year of the pandemic upon us, we had to find a way to
 engage our team remotely. The Kroo people team set out to find a volunteering
 cause that was easy to set up remotely and which still benefited a great
 cause. With a bit of searching they found HOT Tasking Manager.


 HOT Tasking Manager is a global community which maps the places most
 vulnerable to disaster and poverty. These maps are then used to support
 humanitarian aid and sustainable development across the world. Volunteers use
 satellite imagery from OpenStreetMap to trace buildings, roadways and other
 features. Then, experienced volunteers verify the map to ensure its quality.
 After validation the data is an asset to humanitarian organisations to
 leverage for disaster response. To date 122.6 million buildings and 2.7
 million kilometres have been mapped with the help of 377k mappers*.


 It’s simple to sign up and work collaboratively on projects with HOT Tasking
 Manager. Head to
 <a href="https://tasks.hotosm.org/explore"
 >https://tasks.hotosm.org/explore</a
 >
 to discover projects currently in need of contributors. Then select a project,
 send details to your team and work collectively from anywhere to centralise
 your efforts! In Kroo’s case, we selected to map areas impacted by cyclones
 ANA and BATSIRAI around Mahanoro.


 The People team member who organised the event thought it was a great success.
 Nicholas says, “Overall, the event went great! The activity is quite casual
 and lends itself well to being done amongst conversation. With the addition of
 a Google Hangout, it makes for an awesome hybrid event, bringing together
 in-person and remote employees. It’s a wonderful, low-barrier way to help out
 and a great excuse to share a slice of pizza and a few beers with some
 co-workers after hours while making a difference.”


 We plan to organise further opportunities for the Kroo team to contribute to
 HOT Tasking Manager.

Volunteering as a Distributed Team

Can you tell us a little bit about yourself and explain your role at
 Kroo?


 I’m a Product Designer at Kroo, part of the team responsible for the look and
 feel of the Kroo app. When I’m not drawing rectangles, I can usually be found
 with my head in a book or my hands on a controller.


 What are your primary responsibilities and what kinds of technologies do
 you use?


 I help create and maintain the design system, develop UX flows and design the
 UI. To do this, we primarily use Figma for all of our design and prototyping,
 with some ProtoPie thrown in for good measure.


 What skills do you think make you successful in your role and how did you
 develop them?


 Curiosity, experimentation and listening. We learn by studying those that came
 before us, by asking questions and, by sharing ideas. Oh, and leave the ego at
 the door.


 Can you give us some insight about what the product design process is like
 at Kroo?


 Every solution starts with a conversation. We use the tried and tested Design
 Thinking processes of Empathise, Define, Ideate, Prototype and Test

How would you define your personal design style or process?
For my process I like to start on paper and iterate fast.
What were you doing before Kroo?

 Before Kroo, I worked as a designer at an innovation company that asked the
 big ‘What if…’ questions, then designed the answers.


 Are there any designers or brands you look up from a design standpoint?


 All the usual brand suspects, Apple, Twitter, Airbnb, Figma. As to
 individuals, Joey Banks is a legend of Design Systems, Bonnie Kate Wolf’s
 iconography is unparalleled, Miggi (from Figgi) is the best teacher, and
 Andrea Picchi is a constant inspiration.

Meet the Kroo Team: Product Design

From qualifying for a home loan to securing a loan for a car, your personal
 credit score is the key to unlocking loans and other financial products. Many
 times we’re told about the things we should be doing to increase our credit
 score: making payments on time, ensuring we’re only financially linked to
 financially sound people and keeping credit accounts active are all sound ways
 to positively impact your credit. But what’s not discussed often enough are
 the possible negative factors to watch out for.

So what are negative credit factors to keep in mind?
<h5>Late or missed loan payments</h5>
<ul>
 <li>
 Late or missed payments stack negatively against your credit and can hurt
 your chances of higher limit or new account approvals. It’s also important
 to remember Buy Now, Pay Later (BNPL) repayments. Some BNPL issuers report
 repayment history to credit institutions, but not all. We recommend you
 reach out directly to your BNPL issuer with any questions on how repayment
 might affect your credit.
 </li>
</ul>
<h5>Using too much of your credit limit</h5>
<ul>
 <li>
  Though it seems counterintuitive, if you consistently use too high of a
 percentage of your issued credit, your score will be negatively affected.
 For example, if you have a £1,500 limit on a credit card and consistently
 utilise say, £1,100, your score will likely go down in response to your high
 percentage of use.*
 </li>
</ul>
<h5>Closing and opening credit accounts</h5>
<ul>
 <li>
 Many people are surprised to learn that opening new accounts or closing
 credit accounts you’re not using can negatively affect your credit. This is
 because the length of time you’ve had accounts contributes to your credit
 score. It’s generally a good idea to weigh the possible impacts when
 considering a higher credit limit or closing an account.
 </li>
</ul>

 When opening a new account there may be both positive and negative effects to
 consider. Opening a new credit account may lower your overall utilisation
 percentage, or the new account could skew the age of your credit too young and
 have a negative impact. Both possibilities are important to consider before
 requesting new credit lines or increased limits.


 Routinely checking your credit score is a simple way to catch unexpected
 changes to your report and monitor positive or negative trends. We’ve made it
 simple to track your credit score from the Kroo app. It takes moments to set
 up and the Kroo credit reporting feature won’t impact your credit score. Open
 the app and click the credit score button to get started today!


 <a href="/blog/free-credit-score-tracking-with-the-kroo-app"
 > 
 <img
 loading="lazy"
 decoding="async"
 src="/blog/negative-credit-factors-to-watch-for.webp"
 alt=""
 width="1400"
 height="933" /> 
 </a>


 +<a
 href="https://www.experian.co.uk/consumer/help-discover/discover/guides/buy-now-pay-later.html"
 target="_blank"
 rel="noopener"
 >Buy now Pay Later</a
 >


 *<a
 href="https://www.experian.com/blogs/ask-experian/credit-education/score-basics/what-affects-your-credit-scores/"
 target="_blank"
 rel="noopener"
 >What affects your credit scores</a
 >

3 Negative Credit Factors to Watch For

Here at Kroo we’re passionate about our people, they are, after all, what
 we’re made of. We’re inspired by our team’s commitment to growth, for
 embracing change and building a bank that’s an agent for good.


 We’ve interviewed a key member of our development team to give some insight on
 what it's like to contribute and be a part of the Kroo team. Read on to hear
 from William Murphy, a full stack developer here at Kroo!


 Can you tell us a little bit about yourself and explain your role at
 Kroo?


 I’m a full stack software engineer here at Kroo! I’ve  been developing for 15
 years and have been working for various startups for the past 6-7 years in
 London.


 What are you working on right now and what technologies/languages are
 involved?


 As a full stack developer you work with a range of technologies, such as react
 native for both mobile and web applications. Our back-end is in Clojure with
 postgres, Kafka for data storage and we deploy our microservices using docker
 in AWS. We also do a fair bit of work configuring in Terraform.


 Typically I’m working on different features for our end users such as bill
 splitting, account registration but right now I’m working on ensuring our
 mobile app security is state of the art. You can see there’s lots of different
 areas to work on here at Kroo!

How do you keep your skills sharp and up to date?

 When I have the time and energy I like to work on side projects and go to tech
 talks. I know some developers don’t do these things, but when I’m able I like
 to play around with different languages


 I principally learn by building and being exposed to new technologies and
 learning from other members of the team as to how they do things.

<blockquote>
 
 “We do a lot of knowledge sharing here at Kroo and that helps to develop my
 skills on a daily basis.”
 
</blockquote>
What were you doing before Kroo?

 Before Kroo I worked for a bunch of startups. Most recently I was developing
 software to help make Apache Kafka easier for companies to manage.

Why did you choose to start a clojure role?

 Clojure was an interesting language to me, partly because I’ve done some
 functional languages before and I was really interested to learn more about
 how I can develop my functional language knowledge further.


 It also runs on the JVM platform which is such a popular platform. This means
 you can use a lot of things from Java tools and libraries for Clojure.

How long did it take to learn? What was that process like?

 The learning process was predominantly done on the job through pair
 programming. Pair programming allows someone to both help you and teach you in
 a very hands-on kind of way so you’re not on your own.


 The clojure we are using for our microservices is relatively simple and it’s
 moreso our infrastructure which uses more advanced clojure techniques. For the
 most part it’s relatively simple. This means you can get started quite quickly
 by working on the microservices in the beginning and you can get to more
 advanced clojure with the infrastructure.

What do you like about clojure?

 Being a functional language, Clojure makes concurrency easier and it’s
 generally easier to understand the code. Compared to the Java code that I was
 using 10 years ago, clojure is simpler and easier to follow after you’ve cut
 your teeth on a few bits of code.


 Whilst the syntax looks different to most mainstream languages, you do get the
 hang of it quickly and I know a lot of engineers here at Kroo find it easier
 to read.

Why is Kroo such a big advocate of pair programming?

 Because it works well. It’s great for knowledge sharing. Less emphasis on
 working with code review tools and, even for a small amount of code, the
 reviewer won’t often have the context as to what you're doing.


 Whereas when you’re pair programming, you can review the code in real-time and
 work together which has the double benefit of knowledge sharing and learning
 at the same time.


 Whilst we use the knowledge sharing tools like wikis, brown bag sessions and
 slack, we found that pair programming is a much more organic way to share
 knowledge of the system between team members.

Meet the Kroo Team: Full Stack Developer

At Kroo, we want to make finances fit your life, not the other way around.
 This is why we’ve made it simple to access the information that influences
 your financial wellness. Now you can enjoy seamless access to your TransUnion
 credit score, all from the Kroo app.


 Checking your TransUnion Credit score through the Kroo app won’t impact your
 credit file directly. This new feature allows you to know where you stand
 before making certain financial decisions. You’ll now be able to learn more
 about the TransUnion rating scale, see the range your score falls into and see
 how your score has changed since you last checked.

Look for the new credit score button at the top of your Kroo app!
<h5>Why knowing your credit rating is important</h5>

 Your credit score is just one piece of your overall financial footprint, but
 there are benefits to staying informed and working to improve your score. Some
 real-life benefits of improving your credit score could include:

<ul>
 <li>
 Access to a wider variety of financial services, such as credit cards, loans
 and mortgages
 </li>
 <li>
 Better interest rates and higher credit limits on credit you do choose to
 access
 </li>
</ul>
<h5>So what’s the rating scale?</h5>

 The Kroo credit score checker is powered by TransUnion and they rate credit
 into four categories: Poor, Fair, Good and Excellent

<ul>
 <li>
 Poor means you may have access to some credit products, but they may have
 higher interest rates
 </li>
 <li>
 Fair means you may have access to more credit products but they may still
 have higher interest rates
 </li>
 <li>
 Good means you’ll likely have access to many credit products at a range of
 interest rates
 </li>
 <li>
 Excellent means you’re likely to have access to the most credit product and
 some of the lowest interest rates
 </li>
</ul>
<h5>What kinds of things impact my credit score?</h5>

 There are a number of factors that can help or hurt your credit score. Some of
 these factors include:

<ul>
 <li>
 Payment history: Missing or having late payments can negatively impact your
 score, while timely and consistent payments can improve it
 </li>
 <li>
 People you are financially linked to: Being financially linked to someone
 can affect your credit rating. Sharing financial products like joint loans,
 mortgages and bank accounts means you’re responsible for covering the debts
 if they’re unable to.
 </li>
 <li>
 Age of credit: The older your accounts, typically the more positive an
 impact they have on your credit score
 </li>
</ul>

 There are additional factors that credit reporting agencies take into account,
 for the complete list of factors, please visit TransUnion here
 <a
 href="https://www.transunion.co.uk/consumer/credit-education"
 rel="noreferrer noopener"
 target="_blank"
 >https://www.transunion.co.uk/consumer/credit-education</a
 >

Free Credit Score Tracking with the Kroo App

Scammers. They are those people who send emails claiming to be a disposed
 businessman, a prince driven from their home or some politician running from
 their past. They have a fortune and they’re willing to split it with you, as
 long as you pay them to complete the transfer…


 We’ve all seen emails similar to this and we are unlikely to fall for them.
 But not all scams are as easy to see through as others. In fact, according to
 <a
 href="https://www.ukfinance.org.uk/system/files/Half-year-fraud-update-2020-FINAL.pdf"
 rel="noreferrer noopener"
 target="_blank"
 >UK Finance</a
 >, in the first half of 2020 alone, up to £207.8 million was lost to scammers
 convincing everyday people to send them money by bank transfer.


 One of the best ways to avoid a scam is to be aware of what it can look like.
 So, we’ve pulled together a list of some of the most common scams going around
 so you’ll know what to look out for, just like that one from the
 businessman/prince/politician.

<h5>Purchase scams</h5>

 Ever scrolled through your newsfeed or been searching for something and
 suddenly you come across the deal of the century? We’ve all been there.


 Sadly, scammers know that insanely low prices for usually expensive items,
 such as designer clothing, AirPods or vehicles will attract a high number of
 potential victims. If it sounds too good to be true, chances are it probably
 is.


 These types of scammers will often tell you that they can’t accept PayPal or
 card transactions. This is likely because those methods offer you more
 protection than bank transfers. It pays to be cautious — check their reviews
 and the comments others make on their posts and be wary if they ask you to pay
 by bank transfer.

<h5>People impersonation scams</h5>

 It can be dreadful and jarring to receive a message from a friend, family
 member or colleague telling you they’re in desperate need of help. But it’s
 when they ask you to urgently make a payment to a new account of theirs that
 you need to stop and ask questions.


 It’s quite easy for scammers to impersonate people you know. They may hack
 their social media account, or simply create a duplicate using someone’s
 profile picture. If you do receive a message like this, reach out to the
 person on a different platform or on the phone to check in with them.

<h5>Bank impersonation or ‘safe account’ scams</h5>

 But scammers aren’t just impersonating individuals — they’re pretending to be
 institutions as well (such as banks, police, HMRC). Some even have tech that
 lets them spoof phone numbers, making this claim look legit.


 You may get a call or text from someone claiming to be from your bank or the
 police telling you your account has been compromised. They’ll likely tell you
 to urgently move your money to a safe account.


 First off, no bank will EVER contact you to make a payment, so if your ‘bank’
 does this, assume it’s a scam. Just end the call and reach out to your bank
 yourself. And never share any personal details or one-time codes.

<h5>Investment scam</h5>

 “Invest £100 and double your money”. Who doesn’t want their money making even
 more money for them? As with other scams, if it sounds too good to be true,
 chances are it is.


 Investment scammers will target individuals and advertise very high returns in
 exchange for you handing over your cash. Typically, they will contact you on
 social media or they may clone the websites of real investment firms. They may
 ask you to invest in assets such as cryptocurrency, precious metals or
 property.


 Always do your own research- a genuine investment firm will be registered on
 the Financial Conduct Authority (FCA)
 <a
 href="https://www.fca.org.uk/firms/financial-services-register"
 rel="noreferrer noopener"
 target="_blank"
 >authorised firm register</a
 >. Be careful of unsolicited approaches online or by phone call.

<h5>Romance scam</h5>

 According to the Office of National Statistics, 2.6 million adults in Great
 Britain said they felt lonely “often” or “always” between 3 April and 3 May
 2020. Unfortunately, scammers take advantage of people’s loneliness and target
 those who are vulnerable.


 They may try to build an emotional connection very quickly. But their only
 intention is to steal your personal information, identity or to ask for your
 money. They may tell you they urgently need money for an emergency or that
 they’re stranded. You should always be cautious of sending money to someone
 you’ve never met. Take some time to check their social media profile and
 photos.

Raphaelina Arthur, Head of Financial Crime & Deputy MLRO

Five ways to keep yourself safe from scammers

They say money talks, but how loud does £17.7m speak?

 After hours of great conversations with potential investors, I’m able to share
 my excitement with you all. Kroo has raised £17.7m in its Series A funding
 round.


 The raise will support our mobilisation effort, including building a
 market-leading current account and overdraft, growing the incredibly talented
 team at Kroo - with 14 new roles already open and more to come - and securing
 a full UK banking licence.


 Our mission has always been to remove friction from financial interactions
 with friends and family. To help our customers get more from their money, and
 spend more time doing what’s important in their lives. Lofty ambitions, no
 doubt.


 With a clear vision, great minds and solid investment behind us - not to
 mention a fair bit of hard work - that’s exactly what we’ll do. That’s why I
 am so pleased that Rudi Karsan, founder of Karlani Capital, has led the round.
 His experience combined with our team, board and other investors fills me with
 confidence as we take the next step on our journey.


 Our ambitious vision is no secret to those who’ve followed our journey to
 date. We are building the world’s greatest social bank: a bank
 dedicated to its customers and to the world we live in. We’re going to do more
 than just work with Kroo customers to improve their relationship with money.
 We’re going to offer ways to actively take part in making our world a better
 place.


 Right now we’re trialling our offering through an e-money Debit MastercardⓇ
 and Android/iOS app, which you can
 <a
 href="https://kroo.com/app-store/"
 rel="noreferrer noopener"
 target="_blank"
 >download today</a
 >. If you’ve got any feedback simply drop us a message in the app, or on our
 social media channels. After all, we’re building Kroo for you.


 We’ve already opened up
 <a
 href="https://www.notion.so/kroobank/8a558a09e6884246ad1528698d2d8291"
 rel="noreferrer noopener"
 target="_blank"
 >our product roadmap</a
 >
 as part of our commitment to transparency. Follow us as we launch a safe,
 secure and intuitively designed current account, with FSCS deposit protection,
 credit products at fair and competitive rates and much, much more.


 One more thing. As I mentioned, that £17.7m we’ve raised will help us bring
 more great minds on board. If you want to be part of the Kroo then
 <a href="/careers" rel="noreferrer noopener" target="_blank"
 >check out our vacancies</a
 >
 and help us to create the world’s greatest social bank.

Andrea De Gottardo, CEO.

Announcing our £17.7m Series A

Some of you might remember a
 <a
 href="https://medium.com/kroo/from-ads-on-the-telly-to-building-a-bank-c868d9414a0a"
 >previous blog</a
 >
 about how our journey to become a bank all began. Well, I’m happy to let you
 know that it’s getting very real indeed.
 We’ve received our banking licence with restrictions from the Bank of
 England, bringing us closer than ever to creating the first bank built around you,
 your friends, and the planet.


 Without a doubt, it’s been a challenging path with lots of twists and turns.
 This blog dives into some of the details around what it takes to become a UK
 bank and our journey so far.

<h5>The journey</h5>

 When our founders Nazim and Tim kicked Kroo off, we had little understanding
 of just how mammoth a task we’d taken on. We quickly discovered that very few
 people in the world have actually built a bank from scratch, particularly in
 the UK. To put things into perspective, a UK banking license is simply one of
 the highest benchmarks in banking the world over.


 No small feat then! As some famous person once said, “people who are crazy
 enough to think they can change the world are the ones who do”.


 A good analogy would be it’s like climbing a mountain. Less like Everest and
 it’s tallest-peak status, and more like Annapurna, which, while only the
 tenth-highest peak, is the world’s most challenging climb. The chances of
 summiting Annapurna are statistically lower than its counterparts. And that’s
 where our challenge lies.


 Because we’re not only building a startup, but it’s a fintech as well. And the
 UK banking market has ever-tightening controls around getting a banking
 licence with the boom in new, digital banks. Also, having a debit card
 programme has its own ups and downs. Add to that Brexit, with a suite of new
 laws, regulations and upsets, all in the middle of a pandemic that’s created
 rising unemployment and the worst economic crisis since the Great Depression
 of the 1930s…

Yup, it’s definitely not been boring 😅

 The diagram below is evidence of that. It shows that only a small percentage
 of banking applications make it past the first hurdle (gulp).

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1308/1*AY2w4xJmbgv9JmV_LR-LEQ.png"
 alt="" />
</figure>

 ‘If it’s so tough, why even bother?’ I hear you ask. It’s a fair question, one
 which we’ve asked ourselves on many occasions. Honestly, we did explore other
 possible routes, but at the end of the day, it was clear the only way a
 solution such as Kroo was possible would be if it was a bank. Why?

<ul>
 <li>We want to own the end-to-end customer experience</li>
 <li>
 We must be a trusted institution if we want people to navigate their entire
 financial lives with us
 </li>
 <li>
 Core to our robust business model and lending strategy is that we must be
 able to raise deposits that provide FSCS protection
 </li>
 <li>
 To have best-in-class digital current accounts in combination with our
 innovative social tools such as Groups and Pools.
 </li>
</ul>
<h5>What’s the process?</h5>

 Working together with the regulators, there are four stages you must pass
 through before you can become a fully licensed bank.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*GKXyWTBuLKaoF1cfaYNPlQ.png"
 alt="" />
</figure>
<ul>
 <li>
 Stage 1 — Early stages. Timescale — around 1 year. You need to think long
 and hard about your proposition and understand if and why you need to become
 a bank
 </li>
 <li>
 Stage 2 — Pre-application. Timescale — 2 years. You need to develop your
 business model in great detail. Capital and liquidity and your governance
 structure, as well as a seemingly endless list of policies and procedures
 </li>
 <li>
 Stage 3 — Application. Timescale — between 6–12 months. Beginning the
 build-out of the bank. Raising enough capital. And further developing the
 banking structure, such as committees, reporting, and other banking
 deliverables. And let’s not forget about building your Board of directors as
 well as applying for the Senior Management Functions (SMF)
 </li>
 <li>
 Stage 4 — Mobilisation. Timescale — no more than 12 months. You’re a bank
 but with restrictions. We’ll cover this in a bit more detail later on
 </li>
 <li>Restrictions lifted — you’re a fully regulated bank, finally!</li>
</ul>
<h5>Who are the regulators?</h5>

 The Prudential Regulatory Authority (PRA) and Financial Conduct Authority
 (FCA). In a nutshell, they work together to ensure the safety and soundness of
 the UK financial system and of their customers.


 The PRA is mostly focused on ensuring banks have enough capital and liquidity,
 the appropriate level of operational resilience as well as a viable plan to be
 a sustainable bank in the long run. The FCA’s objectives are: to secure an
 appropriate degree of protection for consumers; to protect and enhance the
 integrity of the UK financial system; and to promote effective competition in
 the interests of consumers.


 In order to become a bank, you will need to engage with the New Bank Start-up
 Unit (NBSU), a joint initiative set up by the PRA and FCA. The NBSU gives
 firms that are interested in applying for authorisation as a bank the
 information and support they need to set up a bank in the UK.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*2I0N8tKy_w_7F2SVoKFRzg.png"
 alt="" />
</figure>
<h5>Where are we?</h5>

 It’s an exhilarating time for us at Kroo, as everything is coming into focus.
 We have just entered our mobilisation phase. This is no small feat and we’re
 extremely proud to be where we are. It’s taken a number of years to put this
 together and we have crafted 64 documents containing over 2500-pages in total.
 To do this, the team spent easily a thousand hours of combined effort burning
 the midnight oil, meeting, drafting, redrafting and drafting again, debating,
 and brainstorming … and more drafting (no point even trying to count the
 amount of coffee we drank).


 While all of that was happening, we also managed to raise £17.7 million in our
 Series A funding round, exceeding our £16 million target. We will use most of
 the funds to propel us through our mobilisation phase, in readiness for our
 full launch at the beginning of next year. The remaining funds will be held as
 regulatory capital, in line with the Bank of England’s requirements.


 On top of that we are also finalising the build-out of our core banking
 infrastructure as well as developing the front end. We’re strengthening our
 governance and ramping up our team size which we hope to almost double over
 the next nine months, so keep an eye on our career page if you want to join
 the Kroo family.

<h5>What does it mean to be in mobilisation</h5>
Firstly, we are a BANK, but with restrictions.
<ul>
 <li>
 We have a maximum of 12 months to exit mobilisation. If we fail in any area,
 everything is reset and the process begins again
 </li>
 <li>
 We need to behave and operate as a bank, and therefore, we need to be
 operational with solid governance in place, i.e. senior management functions
 and a full board. We will also be required to submit regular progress
 reports and regulatory reports
 </li>
 <li>
 We can test our banking products and refine some elements of our offering
 </li>
 <li>
 We will have a cap of £50,000 on the total level of deposits that we can
 accept
 </li>
 <li>We will need to raise more funds in series B to exit mobilisation</li>
</ul>

 We’re by no means there yet, but we’ve well and truly set off from base camp,
 scrambled up to camp one, traversed all the technical pitfalls to camp two and
 three. We have raised over £30m to date and have a growing team of over 50
 people, including some serious banking experts with decades of banking
 experience. Now, we’re looking up at the summit feeling pumped and ready for
 the toughest part of the climb. If we make it to the top, we will be joining a
 small group of the elite when we get our full banking license. Banking
 license, here we come!

<h5>What can our customers expect?</h5>

 For now, it’s business as usual for your prepaid card. We’re continuing to
 update our app and make improvements while we work hard in the background to
 build out the core banking platform, additional current account features, and
 the overall Kroo experience (for more details on how the money in your prepaid
 card is protected, take a look at the FAQs on our
 <a href="https://help.kroo.com/en/" rel="noreferrer noopener" target="_blank"
 >support page</a
 >). Once we exit mobilisation, we will gradually close down the prepaid card
 scheme and offer customers the ability to transition their existing accounts
 over to our new Kroo current account, free of charge. When it comes to
 timings, we’ll know more the closer we are to that point. From there onwards,
 it will be a fabulous, brand-spanking new UK current account with all the same
 social features that you enjoyed on your Kroo prepaid card, as well as all the
 bits and pieces you’d expect from a bank and more. Simple!


 🚀 We have so much ahead of us, and guess what, we’re hiring! If you’re
 interested in joining our Kroo head to our careers page
 <a href="/careers" rel="noreferrer noopener" target="_blank"
 >https://kroo.com/careers/.</a
 >

Building a bank — it’s getting real

At Kroo we’re on our way to becoming a licensed UK Bank. A bank that wants to
 change the relationship people have with money for good. With this comes a big
 responsibility, one we take seriously. Just one step we’re taking is to give
 people the confidence to make the right financial decisions.


 Over the coming months we’ll be covering banking topics that tend to cause
 uncertainty and confusion. The articles will be short, simple, and give you
 the confidence to know your APR from AER.

How does an overdraft work?
An overdraft is simply part of a current account. Not quite.

 Many people misunderstand how an overdraft works, and where it fits into their
 personal finances. In its simplest form an overdraft should be understood as a
 way you can borrow money from the bank. An overdraft does this by extending
 the amount of money you can access through your current account. So when your
 balance reaches £0, if you have an overdraft, you can still spend or pay bills
 from your current account. When you are using the overdraft in this way your
 account is ‘overdrawn’.


 Of course the amount you can spend beyond £0 balance, depends on the overdraft
 limit you have in place on the account. An overdraft can be a useful tool to
 deal with unexpected costs, tide you over during expensive months, or simply
 give confidence in case of an emergency expense. What’s important is that an
 overdraft is seen as short term access to extra cash. If they’re used for long
 periods they can quickly become expensive.


 It’s important to remember that when your account is overdrawn you are
 borrowing money which will have to be paid back. Like most money borrowed from
 a bank, the amount borrowed might be subject to interest, and fees. Normally,
 any interest and fees are bundled together and shown as a single value, which
 is written as a %. This is called the ‘APR’ or annual percentage rate. An APR
 is designed to give a good indicator of the actual cost of using an overdraft.
 The APR applied to an overdraft can vary greatly between banks, and between
 customers within the same bank.


 You might have heard of arranged and unarranged overdrafts. An arranged
 overdraft simply means the bank has authorised you to spend up to an agreed
 amount once your current account balance reaches £0. As an example, you may
 have an arranged overdraft of £500. Once your account balance reaches £0, the
 bank allows you to spend a further £500 on that account taking your balance to
 -£500.


 The cost of using this overdraft is calculated daily, so the amount you are
 overdrawn and the time you are overdrawn as well as the overdraft APR all
 affect the overall cost to you. You can get a feel for how this works by
 looking at a bank’s overdraft calculator online.


 Using an unarranged overdraft means your balance has dropped below £0, but you
 have no overdraft limit agreed with the bank, or when your balance falls below
 your agreed overdraft limit. Banks used to be able to charge higher rates if
 customers used an unarranged overdraft but the rules on this were recently
 changed. Now banks must charge the same interest whether the overdraft is
 arranged or unarranged.

How does an overdraft work?

Kroo is introducing a referral scheme to reward customers who successfully
 invite their friends to join Kroo. The reward will be in the form of trees
 planted on behalf of the referrer and the referred, so that you win, they win,
 we win, and our planet wins. You can read more about why we are planting trees
 in <a href="/blog/making-a-difference-one-tree-at-a-time">this blog post</a>.


 This is the story of how we implemented the referral links, why we did it this
 way (using shallow links), and a brief overview and explanation of the
 alternative, which is to use deep links. You can see the final product
 <a
 href="https://our.kroo.com/r/trees/FldWm7"
 rel="noreferrer noopener"
 target="_blank"
 >here</a
 >, which happens to be a referral link with my token, so you are more than
 welcome to use this link to sign up to Kroo 😀.

<h5>The Problem</h5>

 To assign credit for customer acquisition we need a way of knowing who
 referred the user who is registering an account. The way this would likely
 work on the Web is that you would have a link to the registration page with a
 parameter containing a token that is associated with a referrer. When a user
 registers on such a page we can use the token to get the referrer of this
 customer, and that’s all we need to credit the referrer.


 The problem is that we currently only support registration within our app (and
 replicating that process on the Web is not trivial), so how can we use links
 to send information into an app?

<h5>Deep Linking</h5>

 It is possible to create regular web links that will open up an app to a
 specific place (social networks like to use this to direct you from the web
 seamlessly to the same page in the app). The way this works differs slightly
 between platforms and is described in more detail for iOS
 <a
 href="https://developer.apple.com/documentation/safariservices/supporting_associated_domains"
 rel="noreferrer noopener"
 target="_blank"
 >here</a
 >
 and for Android
 <a
 href="https://developer.android.com/training/app-links"
 rel="noreferrer noopener"
 target="_blank"
 >here</a
 >. (There’s also an older method using
 <a
 href="https://developer.apple.com/documentation/xcode/allowing_apps_and_websites_to_link_to_your_content/defining_a_custom_url_scheme_for_your_app"
 rel="noreferrer noopener"
 target="_blank"
 >custom URL schemes</a
 >
 for app links).


 The pattern is essentially the same in both, though. The app registers itself
 as being able to handle URLs from a domain (or URLs with a custom scheme)
 using its config files. The domain also needs to have a file at a well known
 location that specifies which paths on the domain should be handled by the
 app. This prevents apps that do not own the domain from registering themselves
 as handlers without permission of the domain owner.


 When a user who has the app installed clicks on such a link, the device will
 open the app instead of loading the web page, and it will provide the app with
 the original link used, so that it can take the user to the correct view
 within the app.


 There are edge cases where
 <a
 href="https://help.branch.io/developers-hub/docs/ios-universal-links"
 rel="noreferrer noopener"
 target="_blank"
 >deep linking might not work</a
 >. More importantly, it only works if the user has the app installed. Since we
 are primarily interested in using referrals for users who do not yet have the
 app, we need a way to persist deep links all the way through app download and
 installation. Unfortunately there’s no native support for this, but there are
 ways to work around it.

<h5>Deferred Deep Linking</h5>

 There are a number of third parties that provide this as a service, such as
 <a
 href="https://www.adjust.com/blog/dive-into-deeplinking/"
 rel="noreferrer noopener"
 target="_blank"
 >Adjust</a
 >,
 <a
 href="https://blog.branch.io/the-ultimate-deep-linking-tutorial-on-ios-11-and-whats-coming-for-ios-12/"
 rel="noreferrer noopener"
 target="_blank"
 >Branch</a
 >, and
 <a
 href="https://firebase.google.com/docs/dynamic-links/create-links"
 rel="noreferrer noopener"
 target="_blank"
 >Firebase</a
 >
 — and you will likely want to use a third party for it because it gets
 complicated in practice, (more on that below). The basic idea is to track the
 user from clicking the link all the way into the app. Following is a schematic
 diagram and simplified description of the process.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*L8bVieDe8Z8gSC-4_Ayeqg.png"
 alt="" />
 <figcaption>Deep Linked Referrals Using a Third Party Service</figcaption>
</figure>

 Whichever service you use, these would likely be the approximate steps
 involved in a referral process using deferred deep links:

<ul>
 <li>
 A user (the referrer) creates a deep link using the app. The app constructs
 this link using the third party SDK, its API service, or internally by
 following the pattern used by the third party. The user can share this link
 with other people.
 </li>
 <li>
 Another user (the referred) clicks on the link, which is actually a link to
 a service hosted by the third party.
 </li>
 <li>
 The third party records a fingerprint (or sets a cookie) to track this user
 along with the URL that was used in the link, and redirects the user to the
 relevant app store.
 </li>
 <li>
 When the user installs and opens the app, the app sends a request to the
 third party, which uses the device fingerprint (or cookie) to find the
 original link used by the user, and shares that with the app. The app can
 then get the referral information out of the link.
 </li>
</ul>

 The problem with this simplified scheme is that it only makes sense if the
 user does not have the app installed, since we are always redirecting to the
 app store, but what is generally needed is some kind of hybrid link.

<h5>Dynamic Links</h5>

 In practice we usually want links to work as deferred deep links if the app is
 not installed, and as regular deep links when the app is installed (and as web
 links if the user is not on a supported mobile). We also need to be able to
 deal with the various quirks of the mobile operating systems and how they
 handle deep links in different situations.


 A good overview of some possible permutations is illustrated by the following
 flowchart. (Firebase provides you with a personalised version of this so you
 can check which links each path points to).

<figure>
 <img
 loading="lazy"
 decoding="async"
 src="https://miro.medium.com/max/1400/1*Hnfr4Gbj2XvYGr3jCZ4tgQ.png"
 alt=""
 width="1400"
 height="1647" />
 <figcaption>
 Example of the different cases handled by deferred deep links. From:
 <a
 href="https://firebase.google.com/docs/dynamic-links/debug"
 rel="noreferrer noopener"
 target="_blank"
 >https://firebase.google.com/docs/dynamic-links/debug</a
 >
 </figcaption>
</figure>

 There are a number of tricks that can be used to make the links work in the
 many different scenarios; The original link can redirect users to different
 URLs based on the User-Agent of the request. The URL to which they are
 redirected can itself a deep link that also contains a redirect to the app
 store, which will only be triggered if the deep link was not handled by an
 app. For some cases you may need the deep link page to have a button linking
 to a deep link on another domain. You can read more about edge cases and
 workarounds in
 <a
 href="https://medium.com/bumble-tech/universal-links-for-android-and-ios-1ddb1e70cab0"
 >this article on deep linking</a
 >.


 However, most of the complexity involved in making it work could, in theory,
 be abstracted away by a third party that specialises in deep linking and
 provides a service that makes it all work seamlessly by hosting the links on
 your behalf.

<h5>The Problems with Deep Linking</h5>

 When we actually tried using some of the third party libraries, they were
 painful to install and difficult to test. Some of them worked partially but
 not in all cases, and we found out that the tricks they use to track users are
 not 100% accurate.


 Advertisers (and by extension deep link providers that rely on tracking) are
 in a constant battle with Apple, as the advertisers try to work around the
 restrictions that Apple adds to protect user privacy. We felt that although
 the methods used for tracking might work currently for most users, they are
 fragile and likely to break in the future. When they do break it might take us
 a while to find out, after many customers have been referred without
 attribution, and it would then be resource-consuming to fix it.


 When our tests were not working correctly it was difficult to debug why, since
 much of the logic resides with a third party and often involves subtle hacks.
 They also sometimes seemed to be intentionally vague about how their landing
 pages work to avoid revealing their “secret sauce” workarounds, which made it
 harder to figure out why it was broken.


 There are also situations when it will obviously not work, for example if a
 user clicks on the link, but then downloads the app on a different device.


 Then there’s the ethical, possibly legal, issue of us tracking potential
 customers without them having agreed to be tracked by us and sharing that
 information with a third party, and it’s all for nothing because in principle
 we don’t really need to track users for the sake of referrals


 The act of claiming a referral involves a user bringing a token (usually
 automatically as a parameter) that says something about who referred them, but
 we don’t need to know anything else about where they have been before or what
 device they used to get there. The only reason we needed tracking was as a
 hack to carry that information through to app installation, and perhaps we
 don’t actually need to do that.


 We opted to keep it simple and ditch the tracking, the deep linking, and the
 third parties, and use shallow linking instead.

<h5>Shallow Linking</h5>

 A shallow link is just a regular web link, that takes the user to a classic
 web page with a form. It is guaranteed to work 100% of the time on every
 device that has a functioning web browser, and it is very easy to develop and
 test.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*Dv6rDEJFqlFv7TndU6aSwg.png"
 alt="" />
 <figcaption>Referrals Using Shallow Linking</figcaption>
</figure>
These are the steps involved in a shallow link referral:
<ul>
 <li>
 A user (the referrer) creates a regular link using the app. The link
 contains a token that is unique to the referrer. The referrer can share this
 link with other people.
 </li>
 <li>
 Another user (the referred) clicks on the link, which points to a web page
 with a form to claim the reward. The user is prompted to enter their email
 address, the same one they will use to sign up for an account.
 </li>
 <li>
 When the form is successfully submitted, the user is redirected to the
 relevant app store (based on the User-Agent header).
 </li>
 <li>
 Once the user has completed registration, we issue an award if the user has
 made a claim using the web form.
 </li>
</ul>

 One disadvantage of this scheme is that the user has to enter their email
 address twice, once in the referral claim form and once during account
 registration. This makes it possible for a user to accidentally provide two
 different email addresses, which will result in the referral not being linked
 correctly. This can be mitigated by expanding the web form to actually begin
 part of the onboarding process.


 After we decided to go down this route, we saw that Monzo and Starling also
 use a similar approach for their referral schemes, probably for the same
 reasons.


 As we were putting the finishing touches on our shallow link referral system
 and getting ready to launch, we heard that Apple rejected all apps that were
 using the SDK from one of the third parties. The ban was lifted after they
 made changes to remove some device tracking. This didn’t affect our referral
 scheme at all. We didn’t have to run any tests to see if our referrals still
 work, and we didn’t have to implement any fixes, because our referral scheme
 does not rely on tracking or deep links.


 Deferred deep linking has its uses, for example to take users to a particular
 page in an app with many pages like Reddit. However, there’s no need to go
 overboard and use deep linking if all we need is attribution for referrals.

How our referral scheme works under the surface - an intro to deep linking

Today I’d like to tell you about how we went about implementing
 Open Banking at Kroo. Specifically how we went about allowing users
 to consent to Third Party Providers having access to their
 data.


 A quick aside; Open Banking is an initiative to enable opening up of data at
 banks and financial institutes so that TTPs or other developers can access it.
 It was introduced by PSD2 which is a European regulation for electronic
 payment services.

If you don’t mind we will start off with a few key terms
<ul>
 <li>PSD2 — Payment Services Directive 2</li>
 <li>TPP — Third Party Provider (An AISP, PISP or CBPII)</li>
 <li>ASPSP — Account Services Payment Services Provider</li>
 <li>
 AISP — Account Information Service Provider (think Yolt or Emma)
 </li>
 <li>PISP — Payment Initiation Service Provider</li>
 <li>
 CBPII — Card-Based Payment 
 Instrument Issuer
 </li>
 <li>PSU — Payment Service User (our customer)</li>
</ul>
Now let’s get into it, shall we?
<h5>So what is the consent journey?</h5>
<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/2000/0*YSG2UisUMqle2FNm.png"
 alt="" />
</figure>

 The journey goes through a number of different steps which take place in both
 the TPP and the ASPSP.

<ol>
 <li>
 One of our customers will sign up to an AISP and ask them to connect to
 their accounts with us.
 </li>
 <li>
 The AISP will show the customer exactly what permissions that it will be
 requesting access for and whether they consent to those permissions.
 </li>
 <li>
 The AISP will tell us these are the permissions that I’m requesting and tell
 us which of our customers these permissions are for.
 </li>
 <li>
 We then ask our customer ‘did you consent to let this AISP have access with these permissions?’
 </li>
 <li>
 If the customers agree we give the AISP access to the customer’s data.
 </li>
</ol>

 Which sounds pretty simple right? So it’s probably key to mention two things.


 Firstly the security specification for PSD2 is based on the
 <a
 href="https://openid.net/specs/openid-financial-api-part-2-wd-06.html"
 rel="noreferrer noopener"
 target="_blank"
 >Financial API specification</a
 >
 by the OpenId foundation which defines a security model built on-top of OpenId
 Connect and OAuth 2.


 Secondly that we are operating under strict
 <a
 href="https://standards.openbanking.org.uk/customer-experience-guidelines/introduction/design-and-experience-principles/latest/"
 rel="noreferrer noopener"
 target="_blank"
 >customer experience guidelines</a
 >
 about what the journey looks like;

<blockquote>
 
 Parity of Experience: The experience available to a PSU when
 authenticating a journey via a TPP should involve no more steps, delay or
 friction in the customer journey than the equivalent experience they have
 when interacting directly with their ASPSP
 
</blockquote>

 Key to that is that here at Kroo we only provide a mobile app yet a TPP could
 be browser-based, app-based or as they like to say in the customer experience
 guidelines a ‘kiosk’; and we need to be able to let one of our
 customers consent from any of those.

Next, we’ll have a look at what we did.
<h5>Building the Kroo journey</h5>

 Here at Kroo, we pride ourselves on being a tech company, we want to provide
 the best experience to our customers, the easiest journey, the best practices
 and using the best technology for the job.


 So we wanted our customers to have the same experience no matter where they
 came from, that they only have to open the Kroo app on their device and just
 consent.


 Fortunately, the folks over at OpenId had already thought about a great
 solution to this;
 <a
 href="https://openid.net/specs/openid-financial-api-ciba.html"
 rel="noreferrer noopener"
 target="_blank"
 >Customer Initiated Backchannel Authentication</a
 >
 (CIBA), also known as the Decoupled flow.


 I’m not going to do a deep dive of what CIBA is, the people over at Authlete
 have already
 <a
 href="https://medium.com/@darutk/ciba-a-new-authentication-authorization-technology-in-2019-explained-by-an-implementer-d1e0ac1311b4"
 >done it justice</a
 >. It does come with a few different methods of how to implement it and we’ve
 gone with what’s called Poll Mode.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1202/1*hK60u-m3VbzXpQROmtjJRQ.png"
 alt="" />
 <figcaption>
 Kroo Decoupled Flow
 </figcaption>
</figure>
Let’s go through what's happening here.
<ol>
 <li>
 The customer has consented on their TPP UI and provided an identifiable
 piece of information we can identify them with; which the TPP then sends to
 us.
 </li>
 <li>
 We do some validation, find the customer and then send back an
 Auth Request to the TPP. This is used to track the state of consent
 and can be exchanged for an Access Token.
 </li>
 <li>
 Then the TPP starts to Poll us to ask whether they can have
 an Access Token yet for the Auth Request. Once we have the
 customers decision we either return them a token or return them a 403
 Forbidden.
 </li>
 <li>
 While 3 is happening we send a push notification to our customer’s devices
 where they have Kroo installed asking them to confirm or deny whether they
 consent. This then updates Auth Request we previously issued to the
 TPP.
 </li>
</ol>
I’ll show you what 4. looks like for a customer.
<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/684/1*ImWwj2Y_TIXrO0JI3fCb7w.gif"
 alt="" />
</figure>

 So there you have it, we can see the push notification arriving, the customer
 opening the app and the request to consent from the TPP is displayed with a
 link to their privacy policy, their name, their icon and if provided the
 binding message.

<h5>The Tech Behind It</h5>

 When we built this back at the at the start of 2020, CIBA was the new kid in
 the cul-de-sac and to get it to work with our cloud native infrastructure we
 decided (maybe a bit naively), you know what we’re going to build this
 ourselves.


 We use a number of technologies here at Kroo, Clojure as our main programming
 language, Kafka as our messaging technology, AWS as our cloud provider and
 event sourcing along with CQRS as the method to store and manage our data.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*8FDV8lwWBEWB0vfwFh11uA.png"
 alt="" />
 <figcaption>
 Kroo Open Banking Architecture
 </figcaption>
</figure>

 This is a snapshot of how we architected the system to be able to respond to a
 CIBA consent journey. Separate microservices* which handle the Open Banking
 and the Notification domains deployed on AWS ECS backed by an AWS RDS
 PostgresDB instance for the persistence layer and utilising AWS Simple
 Notification Service to push notifications to the customer devices either via
 Apple Push Notification service for iOS or Firebase Cloud Messaging for
 Android.


 This gives us the resiliency to horizontally scale as much as we need to be
 able to handle increasing demand as more of our customers start using PSD2 to
 access their accounts at Kroo.

<h5>Looking Back</h5>

 While the problem is complex (I never want to read an RFC again), the solution
 doesn’t need to be.


 This was an extremely fun challenge and you learn an awful lot about OAuth and
 OpenId Connect when writing an Authorisation Server from scratch and when you
 get the green light from the OpenId certification suite that what you’ve done
 works and passes all the requirement… That is a good day.


 *For a look at how we build our Clojure services and the restful standards
 behind them take a look at this great blog series from some of my colleagues
 (<a href="/blog/how-kroo-maintains-sanity-in-distributed-systems-part-1"
 >Part 1</a
 >, <a href="/blog/how-kroo-maintains-sanity-in-distributed-systems-part-2"
 >Part 2</a
 >).

Open Banking at Kroo

This article is a continuation of <a href="/blog/how-kroo-maintains-sanity-in-distributed-systems-part-1"
 >Part 1</a
 > in the series.


 In
 <a href="/blog/how-kroo-maintains-sanity-in-distributed-systems-part-1"
 >Part 1</a
 >
 of this article series, we laid out some groundwork by explaining what
 Richardson Maturity Model and Hypertext Application Language (HAL) are and
 presented some examples of where it might be beneficial to build your APIs as
 a mesh of services connected via Hypermedia links.


 In this part, I will demonstrate code samples from an illustrative project
 which leverages some of these concepts, using Clojure’s popular HTTP
 libraries, as well as some of Kroo’s open-source libraries

<h5>How to: Hypermedia-Driven RESTful Web Services in Clojure</h5>

 The sample project uses an imaginary order fulfilment service as the domain.

<h5>Exposing HAL resources using Bidi and Clojure Liberator</h5>

 Hypermedia Application Language resources are an excellent extension to
 RESTful interfaces when working with microservices.

<figure>
 <img
 loading="lazy"
 decoding="async"
 src="https://miro.medium.com/max/954/1*O-SIfUBQfOml3-Tid-UHZA.png"
 alt=""
 width="477"
 height="115" />
</figure>

 To start with, we define our service endpoints using
 <code
 ><a
 href="https://github.com/juxt/bidi"
 rel="noreferrer noopener"
 target="_blank"
 >bidi</a
 ></code
 >, a bi-directional routing library that allows us to not only define
 endpoints and de-couple them from the HTTP verbs, but also easily generate
 embeddable absolute URLs out of these endpoints.


 The next step is to define a mapping between our endpoints and Liberator
 resource handlers:

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1174/1*d6ycsXg3zJL1sdQyVsG03A.png"
 alt="" />
</figure>

 and finally, using <code>bidi/make-handler</code> create a Ring handler and
 hand it over to a Jetty server:

<figure>
 <img
 loading="lazy"
 decoding="async"
 src="https://miro.medium.com/max/1400/1*CUHrdziZ3gVIm1pCn0vVDA.png"
 alt=""
 width="1094"
 height="260" />
</figure>

 Each of the resource handler functions returns a<code
 ><a
 href="https://github.com/clojure-liberator/liberator"
 rel="noreferrer noopener"
 target="_blank"
 >liberator</a
 ></code
 >
 resource. Liberator resources are in essence controllers, which through its
 Actions, Decisions, and Handlers helps us define an RFC compliant HTTP handler
 in a declarative way. It takes care of ‘merging’ the decisions, sending the
 appropriate HTTP status codes, short-circuiting when we tell it that a
 resource does not exist or a user is not authorised to name a few.

<h5>Clients consuming HAL discovery resource</h5>
Now, moving onto Hypermedia Application Language (HAL).

 In order for the resources to be traversable, one has to introduce an entry
 point where you can begin a conversation with the API. We can do that by
 defining the aforementioned Liberator resource for the
 <code>:discovery</code> handler, which maps to the root “/” endpoint.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*H3EftwYwEeqNSVficTkL6A.png"
 alt="" />
</figure>

 In the example above, we are implementing Liberator’s:
 <code>:handle-ok</code>, which will respond to GET requests with a HAL object.


 We are using Clojure’s thread <code>-&gt;</code> macro to assemble a Halboy
 object, using the open-source
 <code
 ><a
 href="https://github.com/jimmythompson/halboy"
 rel="noreferrer noopener"
 target="_blank"
 >halboy</a
 ></code
 >
 library. There are equivalents of this library for Java
 <a
 href="https://spring.io/guides/gs/rest-hateoas/"
 rel="noreferrer noopener"
 target="_blank"
 >Spring</a
 >
 and other languages and platforms.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*UbvbO704r3tcrGjNxzvn1Q.png"
 alt="" />
</figure>

 The response contains absolute URLs to all the other endpoints this service
 exposes, as well as a <code>self</code> link. Given the bidi routes and a
 request object, Kroo’s open-source
 <code
 ><a
 href="https://github.com/b-social/hype"
 rel="noreferrer noopener"
 target="_blank"
 >hype</a
 ></code
 >
 library can generate the right URLs — e.g.<code
 >(hype/absolute-url-for request routes :orders)</code
 >
 .


 The discovery resource can be ingested by
 <code
 ><a
 href="https://github.com/jimmythompson/halboy"
 rel="noreferrer noopener"
 target="_blank"
 >halboy</a
 ></code
 >, but is equally useful for manual traversal and exploration, as it is for
 HTTP client libraries. What is apparent from the discovery output, is that we
 have means of accessing sub-resources leveraging the templated
 <code>{articleId}</code> .


 A client library that supports HAL can automatically ingest the discovery
 resource and leverage templating capabilities to pre-configure all of the
 routes for a specific sub-resource. You can also configure your Postman
 collection to perform template substitution for you.

<h5>A more complex Liberator example</h5>

 In the example below, we define a Liberator resource handler for the
 :order handler, which in turn maps to the
 <code>/orders/:order-id</code> bidi route.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*7vjXjqRv4PkkLkTkTipPiQ.png"
 alt="" />
</figure>

 As you can see in the example above, Liberator provides a consistent way to
 perform checks for things like ‘exists’ and can explicitly return a 404 when
 our function returns a falsy value. You just need to declare the Decision and
 a corresponding Action, e.g. <code>:exists?</code> and
 <code>:handle-not-found</code> Liberator takes care of making it into an RFC
 compliant HTTP service.

<h5>Clients interacting with services</h5>
So how do you communicate between HAL enabled endpoints?

 Using
 <code
 ><a
 href="https://github.com/jimmythompson/halboy"
 rel="noreferrer noopener"
 target="_blank"
 >halboy</a
 ></code
 >, it’s quite simple. You can use the library built-in HTTP client to
 initiate the conversation with another service, using its discovery endpoint
 as the starting point.


 From then on, the library is aware of all the linked resources, e.g.
 <code>:items</code> as well as all of the path parameters that the resource
 accepts (e.g. <code>:item-id</code>).

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1050/1*atVP4UvIsf6_pnALJMNDBw.png"
 alt="" />
</figure>
<h5>Bonus: Distributed Tracing with OpenTracing, Halboy, and Jaeger</h5>

 Now, in order to fully unlock the observability and traceability of your HAL
 RESTful Web Services, you can extend your service with distributed tracing or
 what is often referred to as APM (Application Performance Monitoring).


 Distributed tracing will further extend the discoverability of our Hypermedia
 enabled web services. It will do that by automatically collecting traces
 across services and forming ‘spans’. It will automatically generate Directed
 Acyclic Graphs (DAGs) of the network of services, giving us a holistic view of
 all of our micro-services top down.


 Through sampling of individual requests across services, it will give us
 detailed traces and allow us to visualize bottlenecks or issues in our
 services, all the way down to a database query, as illustrated in the
 screenshots below.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1708/1*hL4CLA5du8MkvIQcDGqXoQ.png"
 alt="" />
</figure>
<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1708/1*6jI670q3LAOOZyh2NGvhWw.png"
 alt="" />
</figure>
<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1708/1*B28qjS31mB7Nem5waGscZg.png"
 alt="" />
</figure>

 Enabling OpenTracing in a Clojure microservice is as simple as adding a few
 hooks at the root of your application to start the trace sample collection and
 sending it to a frontend like Jaeger, as well as adding a middleware wrapper
 <code>wrap-tracing</code> that will automatically annotate requests and
 tracepoints with information received from the headers in order to form a span
 across services and DB calls.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*E8jIHLxroqjgpFj3K67P_A.png"
 alt="" />
</figure>

 In this example, we are using
 <code
 ><a
 href="https://github.com/uswitch/opencensus-clojure"
 rel="noreferrer noopener"
 target="_blank"
 >openconsensus-clojure</a
 ></code
 > to automate the collection of traces and sending it to our log files,
 as well as to the Jaeger UI.

<h5>Conclusion</h5>

 In this follow up article to the
 <a
 href="https://medium.com/kroo/how-kroo-maintains-sanity-in-distributed-systems-part-1-adad8cf095bf"
 >Part 1</a
 >, we demonstrated some code samples from an
 <a
 href="https://github.com/danielzurawski/hal-liberator-jaeger"
 rel="noreferrer noopener"
 target="_blank"
 >illustrative project</a
 >
 and provided a sneak peek into how we build discoverable, robust, and
 traceable APIs at
 <a href="https://kroo.com/" rel="noreferrer noopener" target="_blank"
 >Kroo</a
 >, leveraging Clojure and its great library eco-system.


 The example project closely resembles how Kroo builds its domain services and
 illustrates some of the Kroo’s open-source libraries:
 <code
 ><a
 href="https://github.com/jimmythompson/halboy"
 rel="noreferrer noopener"
 target="_blank"
 >halboy</a
 ></code
 >,
 <code
 ><a
 href="https://github.com/b-social/hype"
 rel="noreferrer noopener"
 target="_blank"
 >hype</a
 ></code
 >,
 <code
 ><a
 href="https://github.com/b-social/liberator-mixin"
 rel="noreferrer noopener"
 target="_blank"
 >liberator-mixin</a
 ></code
 >
 which you are welcome to use and contribute to!


 P.S. We’re hiring 🔥🚀. If you’re interested in joining Kroo, please see our
 careers page:
 <a href="/careers" rel="noreferrer noopener" target="_blank"
 >https://kroo.com/careers/</a
 >.

How Kroo maintains sanity in distributed systems — Part 2

Banking and technology are industries that are blended from the old and the
 new. To push things forward, we encourage our colleagues to stay curious, be
 innovative and to not be afraid to rock the boat. That’s why when it comes to
 work it’s important to allow creativity to flourish and allow space for new
 ideas to grow. That’s why a year ago, we launched our first hackathon.


 This is a story about how they are run at Kroo, who gets involved, some
 examples of our results and how it’s become ingrained in our culture.


 This post may turn into a series after each one, let’s see. For now,
 let’s focus on how they’re formatted and what lessons we’ve learnt along the
 way.

<h5>Where we’re going we don’t need roads</h5>

 In the summer of 2019, we decided that we should try a hackathon to display
 what is possible to produce in a short time frame. The foundations of the
 format from then remain the same today. They happen at the end of each quarter
 over two days (Thursday and Friday).


 A few weeks before, invites are circulated to the whole company and on
 Wednesday evening beforehand an idea pitching event is held. We use Notion to
 allow colleagues to post their ideas and what help they might need ahead of
 time. Ideas can be anything from working on items on the backlog, developing
 proof of concepts to continuing previous hackathon ideas.


 At the pitching event, all ideas are presented and any questions asked,
 causing plans to hatch and many side conversations as to who will join which
 team. At Kroo, our hackathons are inclusive for all and as such are
 cross-functional, all roles come together from engineering, marketing to
 compliance.


 Over the next two days, designs are made and code is written. On Friday
 afternoon, a company-wide meeting is held as each team demo their progress.
 Thursday nights are traditionally pizza party night. In recent times, we’ve
 moved fully remote and the results are just as strong.

<h5>Lessons we’ve learned</h5>

 Not everyone will come up with an idea but allowing others to post and run
 through their ideas in detail generates excitement for the whole team and gets
 the process off to a great start.


 Two days is better than one. We found that one day just isn’t enough to get
 the ball rolling and with two it allows for sufficient progress to bring ideas
 to life and demo.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*TAgMKW2HZ8pe9DwNoY0pjw.png"
 alt="" />
 <figcaption>Hackathon in action</figcaption>
</figure>
<h5>No idea is a bad idea</h5>

 You come to expect the unexpected when it comes to our hackathons. Some ideas
 are thrown away, whilst others shine a light on what is possible and make it
 onto our product roadmap. There have also been those that have been released
 into the app the following week.


 “Settle up” started as a proof of concept of a backend algorithm with a
 frontend prototype, turning into a full product release a few weeks later.
 Displaying a transaction’s currency amounts was built and released to users in
 a day. A chatbot was developed which allowed colleagues to ask data questions
 in Slack. Some decide to work on ideas across multiple hackathons until they
 are ready to be shipped.


 Hackathons have enabled different teams at Kroo to work together who wouldn’t
 traditionally, often to uncover the next big thing. Others use the opportunity
 to carry out their burning desire to work on parts of the product which have
 developed too much technical debt or don’t quite have enough polish.

<h5>Ingrained in our culture</h5>

 It’s fair to say that everyone looks forward to the hackathons. Even if their
 input is slight, the demo sessions on Fridays are eagerly anticipated. Not all
 demos progress further than the two days that are spent on them, but the
 creativity and collaboration show what’s possible in such a short amount of
 time.


 In upcoming posts, we’ll talk more about how teams scope and work together
 often with little or no prep. Here’s to the next one.


 P.s. We're hiring 🔥. If you’re interested in joining Kroo please see our
 careers page
 <a href="/careers" rel="noreferrer noopener" target="_blank"
 >https://kroo.com/careers/</a
 >.


 We aren’t a bank yet, but we are applying to the Prudential Regulation
 Authority (PRA) and Financial Conduct Authority (FCA) to become one!


 The Kroo card is a Beta debit Mastercard® and can be used wherever
 Mastercard® is accepted. The card is issued by Wirecard Card Solutions Ltd
 (“WDCS”) pursuant to a licence by Mastercard International Inc. WDCS is
 authorised by the Financial Conduct Authority to conduct electronic money
 service activities under the Electronic Money Regulations 2011 (Ref:
 900051). Mastercard is a registered trademark, and the circles design is a
 trademark of Mastercard International Incorporated.


 This is an e-money product and not covered by FSCS deposit protection.

How Kroo does hackathons

This article has been co-authored with <a
 href="https://medium.com/u/67f3434c3bc9?source=post_page-----adad8cf095bf-----------------------------------"
 rel="noreferrer noopener"
 target="_blank"
 >Daniel Zurawski</a
 >. Keep an eye on his page for the upcoming Part 2.


 Here at Kroo we are on a mission to create the world’s greatest
 social bank. To tackle this challenge, we have opted to use
 microservices and we have a lot of them, adding roughly one new service
 every week. As per the classical definition of a microservice, each service
 manages its own business domain, data, and storage.


 Many organisations understand the benefits that microservices can
 provide. They force you to think more precisely about the domain you are
 modelling, especially if you are strict with the principle of only allowing
 any given service to have one area of responsibility. Another important
 benefit is that they allow individual teams the freedom to manage their own
 continuous integration and deployment in isolation from other teams.


 Despite this, many organisations struggle to effectively make the transition
 from a monolith to microservices. Common anti-patterns include:

<ul>
 <li>
 Data “leaking” out of the service which is authoritative for it and growing
 stale in the consumers that have redundantly stored it
 </li>
 <li>
 Services not being adequately prepared for new requirements, leading to an
 ever-increasing complexity
 </li>
</ul>

 We will have a look at why this is and what we can do to fix it but to give us
 some context, let’s first review our understanding of RESTful services.

<h5>Understanding the Richardson Maturity Model</h5>

 The
 <a
 href="https://martinfowler.com/articles/richardsonMaturityModel.html"
 rel="noreferrer noopener"
 target="_blank"
 >Richardson Maturity Model</a
 >
 describes 4 levels of maturity that an API can go through as it becomes
 RESTful. Let’s look at an example of a blog that stores its articles in
 a microservice called <code>article-service</code>. At the penultimate
 level, the creator(s) of the API have embraced resources and
 HTTP verbs to act on those resources by exposing endpoints such as:

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1252/1*V0xQd3NlTvLRWsoKz6W10g.png"
 alt="" />
</figure>

 This is all well and good but to really leverage the power of REST, you
 must take this one step further and provide Hypermedia Controls in your
 API, which is the definition of the highest level. In practice, this means
 that the API provides clear ways to traverse and act upon the resources it
 exposes. For example, given that I have found the articles resource
 <code>/articles/123</code>, how do I add a new comment to it?

<h5>Introducing Hypertext Application Language (HAL)</h5>

 So what is Hypertext Application Language? Hypertext is the
 simultaneous presentation of information and the controls to branch out and
 interact with related information.


 One documented way of implementing this abstraction for JSON APIs is
 captured in the following
 <a
 href="https://tools.ietf.org/html/draft-kelly-json-hal-06"
 rel="noreferrer noopener"
 target="_blank"
 >Internet-Draft</a
 >. I suggest that you skim through the draft but in a nutshell, it describes
 how to define your resources. Specifically, it specifies that all resources
 should have a first-level property called <code>_links</code> in which we can
 find associated resources and/or operations. In the blog example described
 above, the <code>/articles/123</code> resource would look like this:

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*pcYCWqrRI1XtIPCHyi3QmQ.png"
 alt="" />
</figure>
Let’s take a closer look at these links described in this resource:
<ul>
 <li>
 The self-link is probably self-explanatory. It provides a way of coming back
 to the resource you are currently inspecting at a later time.
 </li>
 <li>
 The comments-link is more interesting, it will take you to the comments of
 the article. The reason this is so powerful is that we have now removed the
 guesswork of figuring out where to go to find the comments. Furthermore, we
 now have the freedom to change the underlying href for the comments if we,
 for example, decide to break out a separate
 <code>comment-service</code> that will hold the comments instead. When
 talking about distributed systems, this is referred to as
 location transparency.
 </li>
 <li>The final link is the discovery-link, where does that take us?</li>
</ul>
<h5>The discovery resource</h5>

 At the core of the API is the discovery resource, which provides all
 the ways a client might want to interact with the resources in the service.
 This makes our entire microservice discoverable. The following example
 illustrates an output from the root URL of our <code>article-service</code>:

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*43K8dacWWeq3u_Ijrpe7WQ.png"
 alt="" />
</figure>

 Resource locations are agnostic from the HTTP verbs supported. You can assume
 that you will be able to perform standard REST operations, leveraging verbs
 such as GET, POST, DELETE, etc.


 It is the responsibility of the backend to notify the consumer of any such
 constraints on a resource. This should be implemented in accordance with the
 RFC, leveraging existing HTTP error codes, such as
 405 — Method Not Allowed.


 Since the discovery-resource is so essential when traversing the API, we put a
 link to it in all sub-resources so that the user of the API always has a way
 of returning to the root of the service and maintain their conversation with
 the API without getting stuck on a leaf node.

<h5>Communicating with URLs</h5>

 Let’s expand further on the example of actions for a blog article. From the
 <code>/articles/123</code> resource described above, we can POST to the
 comments-link to create a new comment. One common question that people
 encounter at this stage is
 “How do I describe some associated resource when I create a comment?”
 Assume that we want to show the author of the comment underneath it, like
 this:https://medium.com/media/5f83af4618b12fb725944b78c6226575


 This means that the comment resource needs to have knowledge of the comment
 author, which is a separate resource. The typical way of doing this is to pass
 the ID of the author when creating the comment so that we can do a
 lookup of the author resource which contains the name:

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1004/1*dC0wg_1of1HmS44lZaECeA.png"
 alt="" />
</figure>

 The problem arises when trying to answer the question
 “How do I find the author resource?” Let’s assume that the user that
 is referenced by the authorId resides in a <code>user-service</code>. If the
 author is only referenced by an ID, every consumer of the API must implicitly
 know that there is such a thing as a <code>user-service</code> and worse yet,
 where it is located. Typically this is handled by a
 sprawling web of configuration and implicit knowledge of the resource
 paths within those services. How can we do better?


 Let’s communicate with the full URLs instead! If you instead reference
 the author by its fully qualified href in the POST request it is
 completely trivial to look up the resource when needed.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1096/1*9nfwwsYM_9T-G5sXMGZmEg.png"
 alt="" />
</figure>

 All you have to do is perform a GET to the URL and there you go, you
 have all the information you need about the author and you’re guaranteed that
 the information is always up to date because you’re fetching it directly from
 the source of truth. This solution isn’t completely devoid of challenges
 either but it is still a significant improvement. In Part 2 we will explore
 some of the challenges that this model introduces, as well as potential
 solutions for them.

<h5>What if we have different types of authors?</h5>

 Imagine now that we have two different types of authors for comments in our
 system. There are regular users defined in the <code>user-service</code> and
 there are admins that are defined in the <code>admin-service</code>, both of
 whom are free to comment on blog articles. In the naive model where one is
 passing around the ID as a way of identifying the author, a commonly occurring
 model is that the API adds another field, a type. In this model the
 POST request might look like this:

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1200/1*6X8rLORyXeKqV3Bn0i1Frg.png"
 alt="" />
</figure>

 The problem here is that we have now massively increased the complexity. All
 systems that will need to do a lookup of this author now need to know all of
 the possible author types and where they are located. Surely there’s a better
 way?


 Fortunately, there is! The model where we communicate with the URLs solves
 this problem for you immediately. Imagine that the POST request instead
 looks like this:

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*9S1f7E4sYg85Y0NA56PsHA.png"
 alt="" />
</figure>

 Now the consumers no longer need to know that there are different types of
 authors and we’ve effectively achieved
 polymorphism across microservices. It is easy to validate that the
 author resource that is being passed fulfils some given interface, for
 example, that it has a “name” property. Simply follow the link and check, and
 if it does then it can be accepted with no additional handling required to
 support new types. For completeness, let’s see how this comment resource would
 look like and specifically how it would display its associated resources:

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*q9J8xKfmxLobuBPXdpeyGA.png"
 alt="" />
</figure>
<h5>Conclusion</h5>

 Hopefully, this article has helped illustrate why
 Hypermedia Controls are so useful when designing distributed systems
 using RESTful microservices. In Part 2 we will dig into concrete
 examples of how we have applied these theories at Kroo and how it has helped
 maintain sanity as our platform grows.

How Kroo maintains sanity in distributed systems — Part 1

The technology at Kroo from a new joiner’s viewpoint

 At the time of writing, Kroo is pre-series A and we’re aiming to enter
 mobilisation (the stage before becoming a fully authorised bank) before the
 end of this year. Our focus now is to build the core current account
 functionality, and also ensure we’re complying with all FCA and PRA
 regulations.


 The product teams are organised into vertical squads, so being in the payments
 squad my focus will be on everything payment related. There is currently one
 other squad - the accounts squad - who are responsible for everything account
 and customer-related.


 This article will focus on the more technical aspects of onboarding, but it’s
 also worth mentioning that, at Kroo, our ways of working play a big part in
 helping people onboard successfully. For example, we use pair programming,
 which really helps to share knowledge and get people up to speed.

<h5>
 What does Kroo’s architecture look like and how does this help with
 onboarding?
</h5>

 Kroo takes a microservice approach with event sourcing. These
 two aspects are key to a speedy onboarding; the microservices architecture
 allows us to focus on just the functionality we care about for our specific
 task, and the events sourcing approach gives us a consistent way to think
 about how the system works.


 At a very high level, events are triggered from either our mobile app or a
 third party, such as a payment provider. If triggered from the mobile app, a
 request is sent to a service which is solely responsible for redirecting it to
 the relevant service (or services).


 Requests that come from third parties will go to our Amazon API Gateway, which
 will redirect it to a backend service directly (usually a gateway service,
 which again will redirect to the required services). Each of these backend
 services is responsible for a specific function, for example handling account
 top-ups.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*n2Liu326Gy69ItwM9MfWaw.jpeg"
 alt="" />
 <figcaption>Simple architecture diagram</figcaption>
</figure>

 Within my first few weeks at Kroo, I was involved in a task to integrate a new
 third party application to monitor transactions, which enables us to identify
 suspicious behaviour. Because we use microservices, this task didn’t involve
 going into a pre-existing code base and having to figure out which bits to
 change and where to add our new code; instead, it required creating a new
 service.


 This meant that there was less risk of breaking existing functionality, and
 that we could spend more time writing high-quality code for the new
 functionality. Often what happens over time when we don’t take a microservices
 approach is what starts as a small, well-defined service gets additional
 functionality “bolted” on, making it difficult to understand, refactor or add
 to even for engineers that have worked with it for a long time.

<h5>How do we create a new service?</h5>

 At Kroo, we have repository with a template service and a command that can be
 run to generate a new service from it. This will create a new repo in Github
 with a basic project structure, deploy the service and other infrastructure to
 AWS, and create a CI pipeline. The command is written using
 <a
 href="https://github.com/ruby/rake"
 rel="noreferrer noopener"
 target="_blank"
 >Rake</a
 >, which is a Ruby tool that allows you to define tasks).


 All services are created in this way, which means that they are all very
 similar in structure. The consistency across services makes it easy to compare
 code between projects. This allows new joiners to be more self sufficient as
 they are able to look at existing services to understand what they do, and
 apply the same approach to the new service.


 All of the services are written in Clojure, so although this was a new
 language for me when I joined, I could quickly start to understand the
 concepts and libraries used just by looking at the existing services.

<h5>What does this new service look like initially?</h5>

 Now that we have generated the new service, we’re ready to dive in and see
 what’s inside.

Some of the key things we get in any newly created service are:
<ul>
 <li>basic endpoints such <code>/health</code> and <code>/ping</code></li>
 <li>other endpoints to access our data, for example <code>/events</code></li>
 <li>logging and metrics</li>
 <li>
 the ability to subscribe to topics from other services and the events
 processing template code
 </li>
 <li>
 a database and some standard functions/queries to read from or insert into
 this database, using
 <a href="https://www.hugsql.org/" rel="noreferrer noopener" target="_blank"
 >HugSQL</a
 >
 </li>
 <li>
 a Rakefile, which provides a set of standard tasks within your projects,
 such as a task to run all tests
 </li>
</ul>

 This provides us with the basic structure to receive http requests from other
 services, to send requests, or to process and handle events produced by
 another service. The focus can therefore be on implementing the business
 logic.


 If we need to make our service’s events available to other services, we’ll
 need to use Kafka Connect. This works by periodically polling the events
 endpoint, which reads from the service’s event log, stored in our service’s
 PostgreSQL database.

<h5>What can we do with this service?</h5>

 With the functionality above we can now start to process events or handle
 requests. This could mean adding new endpoints and writing some business logic
 to handle the requests, or processing events from Kafka.


 By looking at the other services we can see a standard way to process events
 from Kafka, using a rules-based approach whereby the rule can be determined by
 the Kafka topic they’re read from or any other field we have available.


 To process events we created an open-source library called
 <a
 href="https://github.com/b-social/vent"
 rel="noreferrer noopener"
 target="_blank"
 >vent</a
 >, where we can write something like

<pre>(from-channel :other-service-topic (on-type :some-event-type (act act-on-event)))</pre>

 which reads from a topic called <code>:other-service-topic</code> , and calls
 a function <code>act-on-event</code> when it sees an event with type
 <code>:some-event-type</code> .


 What’s nice about this approach, is that we can quickly see which topics the
 service is reading from, and in one file see how each event type is handled.

<h5>Where does the service run?</h5>

 Another aspect that can often make onboarding new engineers more challenging
 is the question of “where is this existing service running and how do I find
 the logs?” or “how do I deploy my new service?”. At Kroo, this question is
 easy to answer as all services are deployed to AWS ECS and all the logs can be
 found in AWS CloudWatch.


 The infrastructure is provisioned as infrastructure as code with Terraform, so
 it’s easy to replicate a resource and ensure consistency across the services.
 This is included in our template service too, so we don’t need to worry about
 how to deploy our new resources.


 As mentioned previously, the Terraform files are included in the template
 service. In addition to these, we have a configuration file for the CI/CD
 pipeline, which, when we push to the master branch on Github, will trigger the
 development pipeline and deploy the service and other infrastructure we need
 in the development account on AWS.

<h5>Does the service work as expected?</h5>

 With the service running in our development environment we can quickly
 identify which components might not be working as expected.


 A short feedback loop is important, because we are more likely to understand
 what’s gone wrong if we only need to look at the code we’ve recently added,
 meaning we can learn quickly as we go. This is great for new joiners, who are
 continuously learning and putting the pieces together.


 Another aspect that helps tighten the feedback loop is that we always push
 small changes rather than creating large pull requests. Therefore every small
 change (that we are fairly confident won’t break things) is deployed to
 development and we will see an error if there’s a problem. We can then
 investigate the most recent code changes and fix the bug. We can quickly learn
 from our mistakes, or confirm our understanding.


 For metrics and alerting, we have an instance of Prometheus running, and some
 logging helpers in our new service. These are used in the code that’s already
 there, and we can use them further within the new functionality.


 There are Grafana dashboards set up already, which show all services. Here we
 can see visualisations, such as number of requests to each endpoint, or counts
 of logs by log level (example <code>ERROR</code> log count by service below).
 We also have alerts in AlertManager, which will send alerts to Slack. This
 makes it even easier to spot when there might be issues with our new service.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*hD-minzyB7o7R38EbLK7FA.png"
 alt="" />
 <figcaption>Grafana chart example</figcaption>
</figure>

 It helps that we are pairing as this means we can be more confident with our
 changes before they go to the development environment, and we don’t need to
 have lots of different environments for each branch, because we’re always
 pushing to master. We don’t need to wait for asynchronous code reviews,
 either, to be told we haven’t considered an edge case, for example; instead,
 we can discuss with our pair in real-time.

<h5>What’s next?</h5>

 My first month at Kroo has been a great experience and I hope this gives a
 sense of what it’s like to join Kroo as a developer.


 This article has focussed on backend services, but all the developers here
 have full stack responsibilities, so other developers in their first month
 might have been more involved in front end development instead. For our mobile
 app we use React Native, and for our internal dashboards we use React.


 As I hope you can see, there’s a lot of exciting stuff going on, so please
 check out the rest of our blog to learn more about what we do and how we do
 it!


 If you’re interested in joining Kroo please see our careers page
 <a href="/careers/" rel="noreferrer noopener" target="_blank"
 >https://kroo.com/careers/</a
 >.

Onboarding at Kroo — Tech

I, along with much of the country and in fact the world, have been working
 from home since lockdown started in the UK back in March and it looks like
 this style of working will be part of my life for the foreseeable future at
 least.


 For a year or two, I regularly worked from home in an admin capacity. Since
 becoming a developer, I occasionally worked from home. Though I preferred to
 go into the office as I had always found working from home rather lonely. Even
 if I am working independently, I enjoy having the buzz of activity going on
 around me and the ability to stop for 5 minutes and chat with a co-worker
 while we get a cup of tea.


 So you can imagine, I was really not looking forward to having to work
 remotely for months on end. But then, I’ve never had to pair remotely before.


 It changed everything! There’s social interaction! There’s problem-solving!
 There’s proof that there is a world outside these four walls!

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*38Smu_zMppsYae7GiCHFGQ.jpeg"
 alt="" />
</figure>

 I should probably begin by pointing out that our company pairs as a matter of
 course and typically spend approximately 70–80% of our time working in pairs
 for the sake of in-built peer review, writing better quality code and sharing
 knowledge across the team. Previously, when any of us has had to work
 remotely, we would try to take a simpler ticket that could be worked on
 independently but it was clear that this was not the solution for this
 scenario.


 And so, we had to get used to pairing remotely. And honestly, it was nowhere
 near as difficult as I had feared it would be. My main issues with it are
 dealing with the occasional dodgy internet connection and not enjoying having
 my headphones on all day (necessary with my partner also working from home).
 But with the right attitude and setup, it can be great! Here are a few things
 I found really helped

<h5>1. Forewarn!</h5>

 It’s courteous to drop a message on Slack (or whatever your messenger of
 choice is), checking that your pair partner is good to go and start pairing.
 And not, for example, making a cuppa, on the loo or trying to shoot a reply
 off to the product manager

<h5>2. Check-in</h5>

 Reserve a minute or two at the beginning of the day to ask how your pair
 partner is doing and engage as humans. We’re not robots and many of us are
 feeling isolated. It can feel like once you’ve made a call, you should crack
 on with the task straight away but social interaction is important and showing
 a genuine interest in your colleague both feels good and is good for morale.

<h5>3. Find your road trip mojo</h5>

 There are different ways of pairing with regards to driving and navigating,
 what role each has and how long you stay in those roles. Figuring out how you
 want to play this is important in pairing generally but it pays to be extra
 sensitive to this when you’re at a distance and be sure that you’re both
 comfortable with how it is transpiring.

<h5>4. Be receptive</h5>

 Another one we should be doing anyway but which is particularly important when
 pairing remotely. As you’re not sitting right next to someone and in fact may
 not even be able to see them if you’re not using video, you won’t pick up on
 visual clues that may tell you if your partner disagrees with you, needs a
 break, is on the verge of a breakthrough or any of a multitude of other
 factors. You will end up sussing this out only from what they say and the tone
 of their voice. Or because you realise you have been going around in circles
 for the past half hour. Making sure you’re receptive to their needs and
 communicating your own will help with productivity in the long run.

<h5>5. Take regular breaks</h5>

 Essentially, you are effectively talking for approx 7 hours a day. This is
 exhausting, especially when you are not physically present with the person you
 are talking to. Keep that brain fresh.

<h5>6. Communicate</h5>

 This is a big one with pairing anyway, but it helps to be extra clear about
 your thought processes when you are working remotely. You may find yourself
 needing to be more specific when talking about a particular line of code if
 you are not driving, or not jumping between files so quickly and explaining
 where you’re going if you are driving, so that your pair partner can follow
 easily even if there is lag or the screen is less clear on their end.

<h5>7. Share, just like your mother told you</h5>

 While pairing remotely does prevent an over-zealous navigator grabbing hold of
 the keyboard, let’s not kid ourselves that sometimes writing a few lines of
 code to demonstrate a point isn’t worth more than many words trying to get
 communicate something. It’s ok to acknowledge this and temporarily switch
 roles if it helps.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/658/1*OT4qy0E6nD36ypr3h0pYCA.png"
 alt="" />
</figure>
<h5>8. Pay attention to lag</h5>

 It’s unfortunate but it happens — sometimes there is a considerable gap
 between what you say and when your partner actually hears it. When we notice
 this happening, we try to leave a bit of a gap before speaking to be sure we
 don’t miss what our partner may have just said.

<h5>9. Don’t let tooling limit you</h5>

 Yes, it can be trickier to describe concepts or demonstrate an architectural
 diagram when you’re at a distance. But it can still work. There are online
 tools which allow for whiteboarding or you can even be old school and draw a
 diagram and hold it up to the screen. It’s not ideal but it still gets the
 point across which is all that matters really.

<h5>10. Thank you!</h5>

 Thank your pair partner for a productive day’s pairing. Acknowledge and
 celebrate your achievements. These are crazy times and it feels like the whole
 world has gone a little mad. But collaborating to create order out of chaos is
 a good way to feel sane and appreciating your partner is a great way to make
 them feel valued and you feel happier. So share the love!


 If you’re interested in joining Kroo please see our careers page <a
 href="/careers"
 target="_blank"
 rel="noreferrer noopener"
 >https://kroo.com/careers/</a
 >

10 Tips For Remote Pairing

This is the second blog on our rebrand to Kroo; you can read part 1: <a
 href="/blog/out-with-the-old-in-with-the-kroo-part-1"
 >“The story behind our new name and new look“ here.</a
 >

<h5>The process to create Kroo</h5>

 Once we had made the decision to rebrand, we spent our time exploring many
 options for names. As you may know, finding a name in this day and age that is
 available is well… tricky.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*Y9z-nWFBvb_SH_1WpNeL2Q.png"
 alt="" />
</figure>

 Three months later, a few hundred names and too much coffee, we found a
 winner.


 Why Kroo? Firstly it’s based on the word crew, a team or group of likeminded
 people working together towards a common goal. We felt that this not only
 reflected our product and how customers would interact with it but also who we
 were as a team. Secondly, the name was short and simple to remember yet still
 quirky enough to raise some eyebrows. And finally, the .com was available — a
 miracle indeed!


 After quickly trademarking Kroo, we moved fast to find the right people who
 could bring the vision and new brand to life. We carried out a short pitch
 with two external design teams until finally whittling it down to one,
 <a href="https://justified.studio/" rel="noreferrer noopener" target="_blank"
 >Justified Studio</a
 >
 — a small creative team that really understood the vision and creative
 challenge we had set out.


 The brief to Justified was to deliver a brand book that carried enough
 elements of the brand that we could then take onboard internally and expand
 across all our channels such as the app, website, social media and so on.


 Straight off the bat, they were off to a solid start, and after exploring
 several routes, we were able to quickly hone it down to our preferred
 creative. We went through a few iterations to ensure our final brand world
 would convey the qualities of our values and then we were good to go.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/10944/1*WQoq0ootgsR0ZU8aHy-6Bw.jpeg"
 alt="" />
</figure>

 When we internally showcased our new brand for the first time, we knew we were
 on the right track when we could physically feel the growing excitement
 amongst the team. Some colour and life were beginning to flourish in the
 office!

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/2000/1*hfSByu6y4k_M7FUGvHGjOg.png"
 alt="" />
</figure>
<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/2000/1*J-ymvN9XgkxpDq0D3xXbvQ.png"
 alt="" />
 <figcaption>Kroo primary colour combinations and fonts</figcaption>
</figure>

 Going from a stark lack of colour to loads of colour certainly throws up its
 challenges. Breaking each element down we explored all the various
 touchpoints, working extensively on the lockup, slogan, typography, imagery
 and colour pallet as we adjusted our mindset from a limited choice to a
 somewhat overwhelming choice.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*7CbrtXAwvNc3QUx1sgw9cA.gif"
 alt="" />
</figure>

 The Kroo lockup is pretty much straight out of the first presentation from
 Justified. The two oo’s visualising the connectivity and forming a graphic
 device that has many possibilities.

<h5>The result</h5>

 If we look back at the original challenge set out, we wanted to take a brand
 that, at the time, resembled an MVP product and bring out a brand that is
 tangible, full of life and positive energy. Kroo has already been extremely
 well received by our team, investors and other stakeholders.


 It’s interesting how a change of brand can bring so much energy not just to
 the product but also the team; now it’s time for our customers to enjoy this
 bright new world too.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*G0DHauwds7KfJY8SPQfXkA.png"
 alt="" />
 <figcaption>Bringing everything together</figcaption>
</figure>
<h5>What’s next?</h5>

 Changing not just the brand name, but an entire identity is a massive
 undertaking for any company, large or small. We see the Kroo brand today as
 the step in a positive direction; however, we also feel that this is just the
 beginning. As we continue to grow so will our brand and we have big ambitions
 for the coming months and years for Kroo to evolve into a brand that people
 across the UK and the rest of the world will get to know and love just as we
 do.

<h5>Join the Kroo!</h5>

 If you want to work for Kroo, we are hiring here in London. If you’re a
 developer, designer or product manager, feel free to reach out to us at
 careers@kroo.com

Out with the old, in with the Kroo - Part 2

The story behind our new name and new look — Part 1 of 2


 It’s been months in the making. A lot of hard work and sleepless nights but
 finally we’re here to share our fresh new brand. In March we will be leaving
 behind the black and white B-Social and complete a brand overhaul to the
 bright and colourful world of Kroo.


 For such a big occasion we wanted to share with you our rationale and how this
 new brand will take us into the future.

<h5>Why the new brand?</h5>

 Before we get stuck into the who, what and when, it makes sense to talk about
 the why.


 It may surprise some of you to know that B-Social was always intended as a
 placeholder name. From the very beginning, tucked away in our back pocket, we
 had a very different name that also began with the letter B. This name had the
 word BANK cleverly embedded into it and therefore for various reasons (a whole
 other story in itself) that name was not to be and so we were left with
 B-Social as our name.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/0*-fYvYrC_kUAEpbhM"
 alt="Design of our previous brand" />
 <figcaption>Design of our previous brand</figcaption>
</figure>

 While B-Social is an interesting name, it is however quite literal, a bit
 corny and somewhat bland. There was a fiddly hyphen when typing and then there
 is the spelling — was it B, BE, BEE and so on? On top of that was the colour,
 or lack of. When we started out we felt that a black and white brand helped us
 to stand out of the crowd but soon realised this didn’t really reflect who we
 were as a team — talented, bright and collaborative or as a product — social,
 intuitive and empowering. All in all we were never really wedded to it and our
 minds always drifted to alternatives.


 A social life is in your face and full of colour. The people you meet are
 vibrant and complex. Our worldly experiences are memorable and bold. The
 emotions we feel are real and bright. So there was no way we could continue as
 a company that didn’t reflect all of the above — a brand full of positive
 energy, colour and life.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/3200/0*RqVnuAAIZ8AQImeJ"
 alt="" />
</figure>
<h5>Who is Kroo?</h5>

 So who is Kroo? It’s no small feat but we want to change the relationship
 people have with their money for good.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*8rJolp4f4LYarpaRN4KeVQ.gif"
 alt="" />
</figure>

 From the very beginning we’ve always said that people don’t live in isolation
 and are social creatures at heart. We share experiences with friends and
 families, collaborate with colleagues, take part in clubs and so on. But all
 too often money gets in the way and can cause a whole heap of unnecessary
 hassle and stress.

<blockquote>
 
 We are building a bank that is designed around real customer needs, desires
 and behaviours. A truly social bank that bends itself around the customer
 removing the hassle associated with money and ultimately allowing them to
 enjoy life’s experiences to the full.
 
</blockquote>

 While we are not a bank yet, we offer an app and debit card that is already
 helping lot’s of Kroo’s out there stay on top of their shared spending, from
 holiday tickets to flat shares and everything in-between. It’s a place where
 true friends and money meet.

<h5>Up next</h5>

 Stay tuned for part 2 about the process of how we developed the Kroo brand.

<h5>Join the Kroo!</h5>

 If you want to work for Kroo we are hiring here in London. If you’re a product
 manager, developer or designer feel free to reach out to us at
 careers@kroo.com

Out with the old, in with the Kroo - Part 1

I’m delighted to let you know that we’ve completed our Seed 2 funding round of
 £7.8 million, bringing our total funding to £13.25 million.


 Our Seed 2 funding round is another key milestone towards building the
 greatest social bank on the planet and changing the relationship people have
 with money for good.


 The success of our latest fundraising round has been made possible thanks to
 our enthusiastic and supportive network of investors. A big thank you to our
 existing investors who are following-on and to our new investors joining us on
 our journey. All of our funding to date, has been achieved without the support
 of institutional investors.


 As far as moving closer to becoming a bank, we are at the last stage of the
 pre-application phase for a UK banking licence with the aim of finalising our
 application in the very near future.


 Today, over 9,000 users have signed up to B-Social. Over the next few weeks,
 we will roll out the ability to fund your account via bank transfer and launch
 under an exciting new brand that fully embodies who we are — intuitive,
 talented, empowering, social and collaborative. For more details on the new
 brand, look out for our next blog post!


 We also plan to DOUBLE the team in our Holborn HQ over the next year.
 This includes hiring Developers, Product Managers and Product Designers. If
 this excites you, please do apply to join our brilliant and passionate team!
 Check out our
 <a href="/careers" rel="noreferrer noopener" target="_blank">careers</a> page
 to see our current vacancies and get in touch.


 Want to know more? Download the app or sign-up for regular updates by visiting
 our
 <a href="https://b-social.com/" rel="noreferrer noopener" target="_blank"
 >website</a
 >.


 Finally, a big thank you to our customers and the team for their terrific
 support and hard work! I look forward to sharing more with you in the coming
 months about our exciting journey of building the greatest social bank on the
 planet.

Nazim Valimahomed, CEO

 We aren’t a bank yet, but we are in the process of applying to the
 Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA)
 to become one!


 The B-Social card is a Beta debit Mastercard® and can be used wherever
 Mastercard® is accepted. The card is issued by Wirecard Card Solutions Ltd
 (“WDCS”) pursuant to a licence by Mastercard International Inc. WDCS is
 authorised by the Financial Conduct Authority to conduct electronic money
 service activities under the Electronic Money Regulations 2011 (Ref:
 900051). Mastercard is a registered trademark, and the circles design is a
 trademark of Mastercard International Incorporated.


 This is an e-money product which is not covered by FSCS deposit
 protection.

Announcing our new funding round of £7.8 million

Welcome to our 5th update in 2019, where we’re sharing some of the exciting
 things happening here at B-Social.


 In this update, we’re sharing our new website, and some big changes for new
 cardholders as well as pushing closer towards our mission of removing the
 awkwardness around money.


 And, to support our growth, we’re hiring across a number of positions. So, if
 you’d like to help us achieve our mission —
 <a
 href="https://b-social.com/careers/"
 rel="noreferrer noopener"
 target="_blank"
 >apply here</a
 >!

<h5>Product updates</h5>
<h5>New website</h5>
<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/2000/1*DKLah04Gxel_JQPaTIEh1w.png"
 alt="" />
</figure>

 We’ve recently redesigned our website to ensure it gives you the same
 feel-good factor as the app, whilst improving the visibility of our career
 opportunities. We’ve received great feedback since launch — check it out
 <a href="https://b-social.com/" rel="noreferrer noopener" target="_blank"
 >here</a
 >.

—
24/7 card onboarding
<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1000/1*DD4Xh33pQEZ6m9thJ66jXA.png"
 alt="" />
</figure>

 A smooth, seamless onboarding is key to ensuring you can get value from
 B-Social as fast as possible.


 With this in mind, we’ve now fully automated our card onboarding for
 successful applications, enabling you or your friends to sign-up and apply for
 a card any time of day, in less than 5 minutes.

—
<h5>Improving social finances</h5>
<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/2000/1*gL1kpmHGod01O2eSHizvtQ.png"
 alt="" />
</figure>

 We continue to deliver new functionality around social finances. Since our
 last update:

<ul>
 <li>
 You’re now able to seamlessly remove members from Groups, as well as leave
 Groups you’re no longer using;
 </li>
 <li>‘Settle Up’ is easier to find in the main Group page; and</li>
 <li>
 You can now export details of who owes who outside of the B-Social app.
 </li>
</ul>
<h5>Company updates</h5>
<h5>Hackathon</h5>

 On 28–29 November, we ran our second hackathon of the year. A short, highly
 focused event where small, cross-functional teams come together to generate
 and test new stimulating ideas.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*0-blP02-EchoPFmWyLR6ow.png"
 alt="" />
 <figcaption>Super focussed during the hackathon</figcaption>
</figure>
Some of the best ideas we prototyped include:
<ul>
 <li>
 Categorisation logos — Each card transaction would have an associated
 category logo
 </li>
 <li>Splitting a one-off bill — Split a transaction outside of a Group</li>
 <li>
 Carbon offset calculator — Calculating the environmental impact of travel
 purchases and providing a way to offset it
 </li>
 <li>In-app reactions — Say thanks in-app when a friend pays you back</li>
</ul>
Keep your eyes peeled for some of these ideas coming in 2020 👀

 If you’ve got great ideas of your own — we’d love to hear about them! Get in
 touch via in-app chat or via email to joe@b-social.com

Download the app today to join us.
<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/0*RQGHGvhAReg_aYbm.png"
 alt="" />
</figure>
The B-Social team

 We aren’t a bank yet, but we are in the process of applying to the
 Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA)
 to become one!


 The B-Social card is a Beta debit Mastercard® and can be used wherever
 Mastercard® is accepted. Mastercard is a registered trademark, and the
 circles’ design is a trademark of Mastercard International Incorporated. The
 Card is issued by Wirecard Card Solutions Ltd (“WDCS”) pursuant to license
 by Mastercard International Inc. WDCS is authorised by the Financial Conduct
 Authority to conduct electronic money service activities under the
 Electronic Money Regulations 2011 (Ref: 900051)


 This is an e-money product and not covered by FSCS deposit protection.

Building the Best Social Bank — Chapter 5

Welcome to our 4th update in 2019, where we’re sharing some of the exciting
 things happening here at B-Social.


 We’ve been busy… working hard (despite the bad weather) to deliver on our 2019
 product roadmap. We’ve also started to share more about our mission for social
 good.


 In support of World Mental Health Day, we’re donating £5 to the mental health
 charity
 <a href="https://www.mind.org.uk/" rel="noreferrer noopener" target="_blank"
 >Mind</a
 >
 for each customer who signs up this week (7/10), as well as introducing a
 guest blogger to talk about money and mental health. You can read more
 about this on <a href="/blog">our blog</a>.

<h5>Product updates</h5>
<h5>Top up with Apple Pay</h5>
<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*TAE6ZcnNFJuq_H3gTulVGw.gif"
 alt="" />
</figure>

 We’re always trying to make it as easy as possible for you to add money to
 your B-Social account. So, what better way to do this than with Apple Pay?


 Update your B-Social app now to use it, and don’t worry Android friends —
 Google Pay is coming soon!

—
<h5>Settle up with ease</h5>
<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*lRW9ZhXt7sc8zVFBhJSz5Q.png"
 alt="" />
</figure>

 When a group gets a bit crowded, we know it can be tricky to know who to pay,
 or who should pay you.


 To solve this, we’ve now optimised group payments to make it even easier to
 settle up.


 You are now only ever two taps away from settling your group — whatever the
 size!

—
<h5>Get started faster, with Groups</h5>
<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/0*eInyx4NHjy2JBPAd.png"
 alt="" />
</figure>

 We know that sometimes you want to get started tracking expenses for your
 holiday, team or flatshare, even before having all your friends on the app.


 Now you can do this! And we can already see that you’re loving it, as the
 number of new Groups you’ve created has skyrocketed!

<h5>Company updates</h5>
<h5>We’ve got 5000 customers!</h5>
<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*g16jBRndr-I2k-UPlkUYhg.png"
 alt="" />
</figure>

 Five thousand customers — what a milestone! It doesn’t feel like too long ago
 when we were celebrating our first 100. We couldn’t have done it without you,
 our customers, so a big thank you from us.


 To find out more about the B-Social journey so far, check out this
 <a
 href="https://medium.com/b-social/five-thousand-customers-what-a-milestone-c425531d513e"
 >blog post</a
 >.

We’re on a mission to remove the awkwardness around money.
Download the app today to join us.
<figure>
 <a
 href="https://onelink.to/wuwk8d?utm_source=website&utm_medium=homepage&utm_campaign=organic"
 ><img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*PgOTP1Nws5tW4ny7nB8odA.png"
 alt=""
 /></a>
</figure>

 Thank you for your continued support and if there’s anything you’d like to
 hear from us next time, just let us know at
 <a href="mailto:hello@kroo.com" rel="noreferrer noopener" target="_blank"
 >hello@kroo.com</a
 >.


 We’re even more excited to tell you about what’s happening over the next few
 months so lookout for our next update.

The B-Social team

 We aren’t a bank yet, but we are in the process of applying to the
 Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA)
 to become one!


 The B-Social card is a Beta debit Mastercard® and can be used wherever
 Mastercard® is accepted. Mastercard is a registered trademark, and the
 circles design is a trademark of Mastercard International Incorporated. The
 Card is issued by Wirecard Card Solutions Ltd (“WDCS”) pursuant to license
 by Mastercard International Inc. WDCS is authorised by the Financial Conduct
 Authority to conduct electronic money service activities under the
 Electronic Money Regulations 2011 (Ref: 900051)


 This is an e-money product and not covered by FSCS deposit protection.

Building the Best Social Bank — Chapter 4

Whether you have a lot or a little, money features in our everyday lives and
 the effect it has on our mental wellbeing is discussed far too infrequently.
 We blame it on ‘being British’ — but it’s time we stopped hiding and start
 breaking down the barriers around money talk. One of the main drivers for
 launching my platform, This Girl Talks Money, is the lack of open discussion
 about money and the scarcity of accessible, simple information. Being a
 textbook millennial, I care about making a positive change in the way we
 approach conversations about money and improving access to knowledge to enable
 every person to feel more confident with money.


 My own experience with money has been much like many young people. Growing up,
 my attitude towards spending was centred mainly on clothes and money was
 merely a facilitator for fuelling my shoe obsession as a teenager. When I
 began earning during my final years at school, I was lucky to be in a position
 where I had minimal expenses and took a very short term approach to money,
 saving only for expensive handbags and holidays. Only in my mid-twenties did I
 begin to want to learn about money management and I self-taught a lot of what
 I know, through books and online publications (mostly aimed at my parents’ age
 group).


 My approach to money and the mentality I have towards money has been critical
 in my decision to leave a high paying secure career path to pursue a more
 creative, less reliable freelance career. I can’t pretend that at times, I
 often envy the position I could have been in financially had I stayed in an
 environment which was, unfortunately, damaging my mental health. One thing I
 often discuss on my channels comes from my first-hand experience: money really
 is not an end goal but a tool and should be treated as one. The trouble here
 is that using a tool requires a level of knowledge which isn’t being taught,
 so money is left to be figured out alone.

<blockquote>
 
 “money really is not an end goal but a tool and should be treated as one.”
 
</blockquote>

 Fear surrounding money and scarcity of funds, most commonly due to a lack of
 knowledge about personal finance, taxes and all things money-related,
 frequently results in decision-making based purely on finances. Only when
 people see their bank accounts looking healthy but they feel unfulfilled do
 they realise that they have been working for money; money hasn’t been working
 hard for them. From my experience, understanding the role of money and how to
 control and maximise my own finances regardless of income has been essential
 to my money mindset and is something I feel every individual can benefit from.
 In a time where our mental health is being put under pressure from all
 directions, empowering each other and ourselves to manage money confidently is
 one clear way we can help protect our wellbeing.

Money & Mental Health

Five thousand customers — what a milestone! It doesn’t feel like too long ago
 when we were celebrating our first 100. Turns out time flies when you’re
 building money socialisation!


 When we hit this number, we thought we’d take a closer look at the stats of
 what our first 5,000 customers have been up to. Where have our cards
 travelled? How much money has been spent on our cards? How did we support
 5,000 people joining our growing family? And these are some of the things we
 found.


 As we all like to escape the grey London skies, it seems that our little black
 card has collected quite a few air miles, having visited over 48 countries all
 over the globe! Outside of the UK, the highest spending was in The
 Netherlands, Spain and France. We get it — those Dutch pannekoeke, Romantic Parisian nights and the Spanish sunshine all with zero fees* —
 definitely worth getting your B-Social card out of the country.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/0*1d-LzEqG5z6MEaSb"
 alt="" />
</figure>

 We also learnt that our customers had created over 861 groups to track & split
 bills with their flatmates, partners and brunch friends and while doing that
 they’ve also collectively spent over half a million pounds on their B-Social
 debit cards!


 Looking after our customers and giving them the best experience is super
 important to us so naturally, we looked at how customer support has been
 doing. From onboarding our customers, solving any problems they might have and
 getting all of that valuable feedback — it turns out we’ve been busy! We’ve
 chatted with over 2680 customers in the last year and received 239 🤩ratings
 on Intercom — whoo!

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/0*h0_bHbwdhgHsgNIc"
 alt="" />
</figure>

 It was great getting to know more about our first five thousand customers and
 it’s very exciting watching our little community grow. Five thousand today —
 the world tomorrow!


 Have any feedback on the app? Send it our way via the in-app chat or our
 social media channels;


 Twitter —
 <a
 href="https://twitter.com/BSocial_App"
 rel="noreferrer noopener"
 target="_blank"
 >https://twitter.com/BSocial_App</a
 >


 Instagram —
 <a
 href="https://www.instagram.com/bsocial_app/"
 rel="noreferrer noopener"
 target="_blank"
 >https://www.instagram.com/bsocial_app</a
 >


 Facebook —
 <a
 href="https://www.facebook.com/bsocialapp/?ref=bookmarks"
 rel="noreferrer noopener"
 target="_blank"
 >https://www.facebook.com/bsocialapp</a
 >


 *We won’t charge you any fees to use your card abroad, however, the ATM that
 you use may charge you.

5000 today - tomorrow, the world

Here at B-Social security is important to us. Over the last couple of months,
 we have introduced the ability to freeze/unfreeze your card, use of biometrics
 to send payments and to log in. This is to ensure that your money is safe and
 that only you have access to it.


 From the 12th of September, we are making another change in line with SCA
 (Strong Customer Authentication), which is apart of the PSD2 regulation to
 protect customers and their finances. This is industry-wide regulation
 designed to prevent fraud and B-Social welcomes these changes.


 We have more security features upcoming over the next couple of months. Some
 of these will be behind the scenes and some you’ll notice. Don't worry we’ll
 make sure to keep you updated every step of the way.

<h5>What will happen and what do I have to do?</h5>

 After you’ve made five contactless payments in a row (or once your payments
 have totalled £135) your transaction will now decline and you’ll be asked to
 enter your card in the machine and use your PIN. Don’t worry, there isn’t
 anything wrong with your card or account, it’s just a way for us to keep your
 money as safe and secure as possible.


 On your sixth contactless payment, your transaction will be declined and you
 will be asked to enter your PIN. This is similar to when you try to pay
 contactless for amounts of over £30. We will also send you a notification
 saying your transaction has been declined and ask you to use your PIN.


 If you have forgotten your PIN, you can access this in-app via the Account
 tab.

<h5>Some contactless payments won’t ever decline</h5>
There is one exception to these new rules. This is:
<ul>
 <li>
 Unattended terminals: These include parking and travel ticket
 terminals, and won’t count towards your contactless payment limit.
 </li>
</ul>
<h5>Your protection</h5>

 Protecting you and your account from fraud is of paramount importance to us at
 B-Social. If you have any questions on this or our plans for the future,
 please ask us in-app via live chat.

Contactless payments are now more secure

The social awkwardness around money and the discomforts of managing
 finances… gone!


 In our aim to understand and embrace how people really live their lives –
 together with other people – we continue to strive toward creating an
 intuitive experience that removes all of the frustrations people feel when
 having to manage their money both personally and in a social context with
 friends, co-workers and family.


 At B-Social we’ve had a huge few months of development with some important
 in-app improvements, including a new home page, better group engagement with
 photos, the ability to freeze and un-freeze cards, as well as a better
 on-boarding process; making it faster for customers to receive their card.

<h5>Product updates</h5>
Everything you need, all in one place.
<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*L-NvT4t5uB6zUmDyaknhMw.jpeg"
 alt="" />
 <figcaption>
 Comparing our early design sketches with the app today
 </figcaption>
</figure>

 Over the last month we’ve reworked the structure of our app, to make every
 encounter feel easier and more social.


 This has meant combining two popular tabs, Payment and Groups, into an
 integrated Social tab. We’ve also pulled the most useful information onto the
 Home Page, so you can see your Recent Transactions and Recent Groups.

Freeze and unfreeze your card
<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*kc6q4o7Wc6fzXFjFAHht5Q.gif"
 alt="" />
 <figcaption>Freeze & unfreeze your card</figcaption>
</figure>

 Customer security is always a top priority. That’s why if you get that sinking
 feeling you don’t know where your card is or in the unfortunate case that
 someone steals your card, you can now freeze it instantly in-app.


 If after turning your home upside down, you find it in your pocket, you can
 unfreeze your card at any time with one tap.

Customise your groups with Photos
<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*kz3nTlA4w1xSvUAlL51QvA.jpeg"
 alt="" />
 <figcaption>Group customisation</figcaption>
</figure>

 We received feedback that you wanted the ability to customise the product to
 suit you and your world. With that in mind, you can now choose a group photo
 for each of your groups.


 We’re looking for feedback on this, with the possibility of uploading your own
 photo in the future. Let us know if this is something you would be keen on.

Get your card faster

 To keep up with demand, we’ve now halved the time taken to get one of our
 black cards, so you can start getting the most of what’s on offer, much
 faster.

<h5>Company updates</h5>
In the news

 B-Social has been included in the top 5 fin-tech companies to watch by
 <a
 href="https://technation.io/insights/tech-for-social-good/#to-watch"
 rel="noreferrer noopener"
 target="_blank"
 >Tech Nation</a
 >
 in their report on Tech for Social Good. This was reposted with additional
 commentary in
 <a
 href="https://www.forbes.com/sites/johnwelsheurope/2019/04/24/20-tech-for-social-good-startups-to-watch-as-tech-nation-tackles-signs-of-the-sector-stalling/#38fe777b300b"
 rel="noreferrer noopener"
 target="_blank"
 >Forbes</a
 >.

Events
<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*jjYwgBGeBOdpgYcYw7DzeQ.jpeg"
 alt="" />
 <figcaption>
 Panel discussion hosted by
 <a
 href="https://www.instagram.com/plasticfreemonkey"
 rel="noreferrer noopener"
 target="_blank"
 >Paolo Bagarone</a
 >, impact reporter for Lush cosmetics and Environmentalist.
 </figcaption>
</figure>

 We ran an Ethical Money event last month to help you understand how ethical
 your money is, and where you choose to keep it.


 The panel consisted of our own co-founder Tim Brown, as well as editor of the
 <a
 href="https://good-with-money.com/"
 rel="noreferrer noopener"
 target="_blank"
 >Good Money Girl</a
 >
 blog Rebecca Jones, and co-founder of ethical investment platform
 <a href="https://www.tumelo.com/" rel="noreferrer noopener" target="_blank"
 >Tumelo</a
 >
 Georgia Stewart. The event was tweeted live, read some of the highlights over
 on
 <a
 href="https://twitter.com/BSocial_App"
 rel="noreferrer noopener"
 target="_blank"
 >Twitter</a
 >.

We’re on a mission to remove the awkwardness around money.
Download the app to join us.
<figure>
 <a
 href="https://apps.apple.com/gb/app/b-social-money-with-friends/id1224580897"
 ><img
 decoding="async"
 src="https://miro.medium.com/max/450/1*6EK-OJnn1_d1mKiQbwmXWQ.png"
 alt=""
 /></a>
</figure>
<figure>
 <a href="https://play.google.com/store/apps/details?id=com.bsocial"
 ><img
 decoding="async"
 src="https://miro.medium.com/max/454/1*UuRYelEXXsWYUlU_m17u-Q.png"
 alt=""
 /></a>
</figure>

 We aren’t a bank yet, but we are in the process of applying to the
 Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA)
 to become one!


 The B-Social card is a Beta debit Mastercard® and can be used wherever
 Mastercard® is accepted. Mastercard is a registered trademark, and the
 circles design is a trademark of Mastercard International Incorporated. The
 Card is issued by Wirecard Card Solutions Ltd (“WDCS”) pursuant to license
 by Mastercard International Inc. WDCS is authorised by the Financial Conduct
 Authority to conduct electronic money service activities under the
 Electronic Money Regulations 2011 (Ref: 900051)


 This is an e-money product and not covered by FSCS deposit protection.

How B-Social is improving people’s relationship with money, for good

A lot has happened since our last update back in January, so we want to share
 another update on the progress towards our mission to change people’s
 relationship with money, for good.

<h5>Instant payments</h5>

 As you may remember, in our previous update we shared how we had built the
 ability to pay your friends back within a group.


 We’re now excited to announce that we’ve taken this to the next level and made
 it equally as easy to pay someone outside of a group, instantly, with just a
 few taps.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/2000/1*gIi_x9s4sEfcSvckBi65vg.png"
 alt="" />
 <figcaption>Pay your friends back with instant payments</figcaption>
</figure>

 Find a friend from your contacts list, choose how much to pay them back, and
 send the funds across to them.


 No need to remember bank account numbers and sort codes. Easily pay your
 friends back in the app with the B-Social card, and use your fingerprint, face
 or password to secure the payment. Simple!

<h5>Real-time spending notifications</h5>

 You asked, and we listened. Real-time notifications have been our most
 requested customer feature, and we’ve now delivered on that.


 Real-time transaction notifications are now sent after any transaction when
 you spend money, as well as when a transaction is declined.


 This will help you to stay on top of their finances whilst acting as an alert
 system if anyone tries to commit fraud using your card.


 We’ve also improved the vendor information we provide, to make this clearer
 and more useful.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*bfuMYb2kGFsJexY23ZYOwQ.jpeg"
 alt="" />
 <figcaption>
 Get real-time spend updates at your favourite coffee spot
 </figcaption>
</figure>
<h5>Add friends to your group</h5>
New joiner in your team or last-minute add-on to your group trip?

 No worries, now B-Social customers are able to add their friends to existing
 groups.


 Adding new members into a group won’t affect existing group balances. New
 members will be able to see historic expenses within the group.


 We’ve also improved the Group Details page, providing information on group
 members, and the amount you and your friends owe / are owed.


 This is only the start of our efforts to improving the experience for managing
 your groups.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/2000/1*cLqJDZQZro6u-STjnktIjA.png"
 alt="" />
 <figcaption>
 New flatmate? Add them to the group, and make spending together simple
 </figcaption>
</figure>
<h5>Biometric security</h5>

 Tired of having to remember multiple passwords? With our new biometrics
 security, you don’t need to remember the password for our app.


 B-Social now supports both fingerprint and Face ID on iOS, and biometrics
 login on Android.


 You can approve payments and view your pin through the use of biometric
 technology, just using Touch ID or Face ID.

Keep up to date on our blog for more updates.

 To download the app, visit either the
 <a
 href="https://itunes.apple.com/gb/app/b-social-money-with-friends/id1224580897?mt=8"
 rel="noreferrer noopener"
 target="_blank"
 >App Store</a
 >
 or
 <a
 href="https://play.google.com/store/apps/details?id=com.bsocial"
 rel="noreferrer noopener"
 target="_blank"
 >Google Play.</a
 >


 We’re always looking for talented people to join our amazing team! Check out
 our
 <a
 href="https://b-social.com/careers/"
 rel="noreferrer noopener"
 target="_blank"
 >careers</a
 >
 page to see our current vacancies and get in touch.


 As always we’d love to hear from you. Whether you have feedback on any of
 our updates or have a suggestion for what will make your life easier. Simply
 comment below. We’ll respond to every message we receive.


 We aren’t a bank yet, but we are in the process of applying to the
 Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA)
 to become one!


 The B-Social card is a Beta debit Mastercard® and can be used wherever
 Mastercard® is accepted. Mastercard is a registered trademark, and the
 circles design is a trademark of Mastercard International Incorporated. The
 Card is issued by Wirecard Card Solutions Ltd (“WDCS”) pursuant to license
 by Mastercard International Inc. WDCS is authorised by the Financial Conduct
 Authority to conduct electronic money service activities under the
 Electronic Money Regulations 2011 (Ref: 900051)


 This is an e-money product and not covered by FSCS deposit protection.

Building the Best Social Bank — Chapter 2

Between the 1st and 8th of March five members of our b-social team cycled
 through the week in aid of Smart Works and International Women’s Day.


 Smart Works is a UK charity that provides high quality interview clothes and
 interview training to unemployed women in need. Smart Works harness the power
 of clothes and confidence to allow a woman to be her best at a crucial moment
 in her life, giving her the confidence, the self-belief and the practical
 tools required to succeed at the interview and transform her life.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*yp6spniMt7hAyVN0iuqezA.jpeg"
 alt="" />
 <figcaption>The Team : Dani, Tom, Toby, Alice and Farah</figcaption>
</figure>

 “I’ve known about Smart Works for a while now and I absolutely love their
 work, so when I saw the cycle challenge I knew it would be a great thing for
 us to take on. It’s nothing compared to the challenges these women are
 overcoming with Smart Works. That’s pretty powerful motivation!” — Dani.


 The goal was to try and complete 500 miles as a team whilst raising money for
 the charity. We’ll keep it real for you, we only reached 206 miles… This was
 with only two out of the five members present in the country with their bikes
 for the entire week and one member who didn’t even own one. Go team!


 I’m proud to be part of a community that is actively working towards the
 bigger picture: To smash the patriarchy! We need to be on board with change,
 to level out gender dominance especially in the world of tech.


 Feelings of insecurity when venturing into a workplace for either the first
 time or revisiting after time away, is a feeling I can certainly resinate
 with. Not only is it nerve-wracking to go through an interview process, but it
 can apply financial pressure to buy appropriate clothes and materials which
 not everyone has the funds for. I champion this charity for helping those in
 need of the little things that ultimately have an enormous effect on their
 self-esteem and confidence.


 “I love cycling and so I jumped at the chance to combine that with some
 charity work. I’m glad it’s going to a great cause and was some quality team
 bonding too.”
 — Tom.


 We raised £391 as a team and so far the overall money raised for the charity
 from all participants is £53k and counting. Donations close on 30th April 2019
 so there’s plenty more time to donate!


 Check out
 <a href="https://smartworks.org.uk/" rel="noreferrer noopener" target="_blank"
 >Smart Works </a
 >and see what great work they are doing.


 If you would like to help, please donate at our
 <a
 href="https://www.justgiving.com/campaign/spinforsmartworks2019"
 rel="noreferrer noopener"
 target="_blank"
 >justgiving campaign here</a
 >, all funds go to Smart Works:<a
 href="https://www.justgiving.com/campaign/spinforsmartworks2019"
 rel="noreferrer noopener"
 target="_blank"
 >Spin for Smart Works 2019Spin for Smart Works is a week-long cycling
 challenge, ending on International Womens Day. Teams of five will
 join…www.justgiving.com</a
 >


 If you would like to join us, we’re hiring! Check out our
 <a href="/careers/" rel="noreferrer noopener" target="_blank">careers</a> page
 to see our current vacancies and get in touch.


 To download the app,
 <a href="https://www.b-social.com/" rel="noreferrer noopener" target="_blank"
 >visit the website</a
 >.


 We aren’t a bank yet, but we are in the process of applying to the
 Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA)
 to become one!


 The B-Social card is a Beta debit Mastercard® and can be used wherever
 Mastercard® is accepted. Mastercard is a registered trademark, and the
 circles design is a trademark of Mastercard International Incorporated. The
 Card is issued by Wirecard Card Solutions Ltd (“WDCS”) pursuant to license
 by Mastercard International Inc. WDCS is authorised by the Financial Conduct
 Authority to conduct electronic money service activities under the
 Electronic Money Regulations 2011 (Ref: 900051)


 This is an e-money product and not covered by FSCS deposit protection.

B-Social goes B-Cycle for charity

<h5>How two ad guys want to change your relationship with money.</h5>

 Just before the new year in 2015 I sat in a café with an ex-colleague of mine
 and we decided to build a boutique branding agency. With a small team our goal
 was to help fledgeling brands get off the ground using our 40 years of
 combined marketing experience with the likes of global giants Coca-Cola, Citi
 Bank, Nestle and many, many more. Little did we know, three years later we
 would be building a new digital bank with a social twist during one of the
 most innovative and exciting times in the history of UK banking.


 This is a short story of how Nazim and I have taken a daring concept and are
 bringing it to life.


 Nazim was educated in Canada where he received an Honours degree in Economics.
 Shortly after, he moved to Moscow where he set up an ad agency called United
 Campaigns later to be bought out by Publicis Groupe (one of the oldest
 marketing companies in the world). This was a bold move particularly in
 mid-90s Russia where capitalism was a relatively new concept. But within a few
 years the company grew to be the second largest creative agency in Russia.


 My UK education was in marketing and design after which I also moved to
 Russia. This was initially for a short summer holiday but turned into a
 23-year life-changing move. My path crossed Nazim’s at Publicis in 2006 when I
 joined as a creative director and we worked together for about 6 years.


 We both went our separate ways until 2015 where we hooked back together in
 London, which brings us back to the café where this story begins. I had a flat
 white and he had his favourite, a macchiato (whatever that is!), but more
 importantly:

<blockquote>
 Nazim had an idea. And it had nothing to do with branding.
</blockquote>

 He shared frustrations about his day-to-day life that I could immediately
 relate to. Like most of us, he socialises with friends and family on a regular
 basis, sharing the cost for group meals, paying up-front for shared holidays,
 getting paid back, reconciling expenses, financially supporting those close to
 him and so on. He was constantly lost in the world of who owes who and how
 much. Was it a gift? Did he need to pay them back? Did they need to pay him
 back? Quite often there would be a level of awkwardness when meeting a friend
 - had either one of them under or overpaid the last time they met for a meal?
 Was anyone still out of pocket?


 Surely there is a trusted financial service out there that allows people to
 focus on what is actually important in life - enjoying time with friends and
 family. That is what’s important, not worrying about the money arrangements
 that consistently hamper one’s life experiences. Surely it’s not too much to
 ask in a world that is so far advanced technologically?


 After a fair bit of digging around we quickly understood that there really
 wasn’t a service that holistically understood or embraced this issue, and that
 the world needed a bank like B-Social.

<h5>Early concepts and ideas</h5>

 Around this time Nazim coined the phrase “money socialisation” and on a few
 scraps of paper we started to visualise how money moves between bank accounts
 and within our social networks. We looked at the space from a consumer
 perspective: wouldn’t it be cool if my bank could bend itself around my needs
 and my life. We mapped out diagrams of how money should flow between people in
 order to make this happen. As our diagrams evolved we could instinctively see
 that our idea was a powerful concept that touched everyone.


 We decided to follow our instinct and solve a real life problem that deserved
 100% of our time. Soon enough we had a full-on branded deck, slogan, logo and
 use cases. I even cobbled together some wireframes with narratives.


 We touted the deck in front of friends and family, receiving an increasingly
 excited response. It was clear that everyone we talked to suffered similar
 friction when managing their “social money” and so with a growing sense of
 urgency we extended our reach by presenting to a wider audience: Bankers,
 technologists and entrepreneurs.


 Up until now the idea of building the bank ourselves seemed quite absurd. Who
 were we to do so? Two ad guys with a great idea but not a banker in sight.
 When presenting to bankers we would receive divided opinions. Some backed it
 as a golden opportunity to redefine banking whilst many others claimed it was
 too ambitious and impossible to execute.


 There were only so many presentations we could make before we came to the
 realisation that the only way this was going to happen was if we did it
 ourselves. We took a few knocks and bruises but we kept going and by mid-2016
 we had completely switched strategy from “we’ve got a cool idea for a bank” to
 “we are building this bank ourselves”.

<h5>Our brilliant team</h5>

 We were able to surround ourselves with like-minded, ambitious people and grew
 from a cramped 2-person office to a highly talented and passionate team of
 over 30 all working towards making money as social as our lives. We’re live on
 iOS and Android, and rapidly building out a community of users. We have just
 completed a £3.2m seed round and are in conversation with the regulators as we
 make our application for a UK banking licence.


 Who’d have thought that a couple of ad guys could start all this? From a
 concept that started out on a scrappy piece of paper in a cafe, to a
 proposition well on the way to being a reality. When we pull this off, money
 will be easier, stress free, less awkward and with any luck we can all be
 better friends, partners, siblings, parents and colleagues.

Written by Tim Brown, co-founder.

 We would love everyone to join us on this journey and help us build a great
 bank, that is social at its core. Join us, download the app by visiting the
 <a href="https://b-social.com/" rel="noreferrer noopener" target="_blank"
 >website</a
 >.


 We’re always looking for talented people to join our amazing team! Check out
 our
 <a href="/careers" rel="noreferrer noopener" target="_blank">careers</a> page
 to see our current vacancies and get in touch.


 We aren’t a bank yet, but we are in the process of applying to the
 Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA)
 to become one!


 The B-Social card is a Beta debit Mastercard® and can be used wherever
 Mastercard® is accepted. Mastercard is a registered trademark, and the
 circles design is a trademark of Mastercard International Incorporated. The
 Card is issued by Wirecard Card Solutions Ltd (“WDCS”) pursuant to license
 by Mastercard International Inc. WDCS is authorised by the Financial Conduct
 Authority to conduct electronic money service activities under the
 Electronic Money Regulations 2011 (Ref: 900051).


 This is an e-money product and not covered by FSCS deposit protection.

From ads on the telly to building a bank

How time flies! We’ve kicked off 2019 with a bang by introducing payments
 and we’ve taken big steps towards developing our app to make money as social
 as your life.


 In-app payments allow you to pay each other back and we have plans to make it
 easier to manage your groups going forward.

<h5>Product updates: Apply for a card</h5>

 We’ve been working hard on being able to roll out our cards so that everyone
 can apply. This involves improving our security and upgrading our payment
 technology so that you can trust your money is safe and secure.


 In the meantime, you can be first in line to apply by registering your
 interest and joining the queue within the app.

<h5>Payments</h5>

 Earlier this month we launched the ability to pay someone back within the app,
 right from the group. As long as both of you have a B-Social card, paying back
 what you owe is super simple. We’ve also made a few updates since launching
 and have much more planned, including using your fingerprint or Face ID to
 securely authorise payments.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1024/1*qnV00SAztTkzYzi6UhAVvw.png"
 alt=""
 width="100%" />
</figure>

 We’ve redesigned the flow to be more intuitive and want to hear your feedback.
 Simply comment below. We respond to every message and each piece of feedback
 is extremely useful for us.

<h5>Notifications</h5>

 Getting notified on what’s happening to your group or your account is not only
 nice but helps you understand what’s going on and stay on top of your social
 finances.


 That’s why you’ll now get notified when someone splits an expense with you and
 when they pay you back, along with your group balance.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*sb2qE-QB_uOvM1qrNn9yfA.jpeg"
 alt=""
 width="100%" />
</figure>

 Stay tuned as we implement new notifications in the future. 
 For Android users, we’re planning on introducing notifications soon.

<h5>Things We’re Working On</h5>

 We want your ability to manage your groups to be as easy as pie. That’s why
 we’re working on being able to add your friends to an existing group and the
 ability to add an expense that someone else has paid for.


 That way you can get going with tracking your social finances without waiting
 for that slow coach to add last weeks dinner they paid for.

<h5>New blog post</h5>
<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*PpsQwzdSLOMLAP4hB5iFrQ.jpeg"
 alt=""
 width="100%" />
</figure>
<h5>Why we decided to tackle group spending</h5>

 What problems groups face and how we hope to tackle it in the future.
 <a
 href="https://medium.com/b-social/why-we-decided-to-tackle-group-spending-937a9f8fcdc7"
 >Read more here</a
 >. Follow us on
 <a
 href="https://twitter.com/bsocial_app"
 rel="noreferrer noopener"
 target="_blank"
 >Twitter</a
 >
 to see the latest announcements.

<h5>Office move</h5>

 You may remember from the last bulletin that we were moving to our new office
 in Holborn. We’re now in and with new team members joining all the time we
 continue to make the space our own. We’ll be writing a blog post about all of
 this soon.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*Y-WAlgZjpQ9uhx86_0dowA.jpeg"
 alt=""
 width="100%" />
</figure>

 To download the app, visit either the
 <a
 href="https://itunes.apple.com/gb/app/b-social-money-with-friends/id1224580897?mt=8"
 rel="noreferrer noopener"
 target="_blank"
 >App Store</a
 >
 or
 <a
 href="https://play.google.com/store/apps/details?id=com.bsocial"
 rel="noreferrer noopener"
 target="_blank"
 >Google Play.</a
 >


 We’re always looking for talented people to join our amazing team! Check out
 our
 <a
 href="https://b-social.com/careers/"
 rel="noreferrer noopener"
 target="_blank"
 >careers</a
 >
 page to see our current vacancies and get in touch.


 As always we’d love to hear from you. Whether you have feedback on any of
 our updates or have a suggestion for what will make your life easier. Simply
 comment below. We’ll respond to every message we receive.


 We aren’t a bank yet, but we are applying to the Prudential Regulation
 Authority (PRA) and Financial Conduct Authority (FCA) to become one!


 The B-Social card is a Beta debit Mastercard® and can be used wherever
 Mastercard® is accepted. Mastercard is a registered trademark, and the
 circles design is a trademark of Mastercard International Incorporated. The
 Card is issued by Wirecard Card Solutions Ltd (“WDCS”) pursuant to license
 by Mastercard International Inc. WDCS is authorised by the Financial Conduct
 Authority to conduct electronic money service activities under the
 Electronic Money Regulations 2011 (Ref: 900051)


 This is an e-money product and not covered by FSCS deposit protection.

Building the Best Social Bank — Chapter 1

When group holidays or social events go well, these can become the memories
 that last a lifetime. Yet, we know that a few niggles can easily change this
 experience.


 One thing we’ve continually heard is shared bills and expenses gets in the way
 of these activities: a dinner ruined by a disagreement about how to split the
 bill; A flatshare soured by quibbles about the rent; holidays marred by a
 friend being out of pocket for months for the AirBnB.


 We wanted to take the hassle out of managing these moments so you can focus on
 what’s important — enjoying yourself.


 With “Groups”, our simple and smart tracker, we help ensure everyone is kept
 up-to-date and no one is left holding the bill.


 Our vision is to make money social and we believe that “Groups” is the
 foundation for that. By ensuring transparency and clarity over your financial
 relationships with others, we want to take the hassle out of knowing how much
 you owe, who’s paid and who hasn’t.

<h5>The problem</h5>

 Through our own experiences, getting a list of everyone’s expenses alongside
 who owes who, nearly always resulted in one big complicated spreadsheet,
 followed by a never-ending text messages and the occasional falling out.

<blockquote>
 Money should never come between friends, but all too often does.
</blockquote>

 We were sick of this and knew there was a better way of doing things. Yet, we
 wanted to make sure that others were also having the same issues. We asked and
 500 of you responded, here’s what we discovered: 
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*zoyYvnfzEhPhG0A88zPIDw.png"
 alt=""
 width="100%" /> 
 We also found that 40% of those surveyed are paying for things that
 total over £100 with 10% making purchases over £300. 50% used
 tools that weren’t great but the ones that did work were extremely valuable.
 These events are expensive and with getting paid back taking a long time, we
 thought there should be a product to fix this.


 This was enough for us to tackle this problem head-on. We believe
 fundamentally that all transactions are inherently social. When you lend a
 friend £50, you’re not only lending money. You’re building your relationship
 and we want to help make that easier.


 We think that thousands of these connections happen between friends and family
 every single day, and keeping track of them is hard. B-Social aims to make
 this simple and transparent and downright lovable.

<h5>How we’re fixing the problem today</h5>

 Let’s get a few things out of the way first: tracking payments between
 multiple people for many things is hard. It’s all too easy to forget that you
 missed a payment to a friend or that you still owe them for the holiday you’ve
 spent months organising.

<blockquote>
 
 That’s why we’ve designed “Groups” to bring transparency, clarity and
 certainty to your group financial situation.
 
</blockquote>

 With our app, you can create multiple “Groups” to track your spending on
 holidays, dinners, flatshare or house expenses. This is powered by
 sophisticated and complex technology under the hood in order to provide you
 with a simple experience.

Today you can:
<ul>
 <li>Split any bill, from flights to your regular brunch meetups.</li>
 <li>View your balance within a group, see who owes and who’s owed.</li>
 <li>Record payments between people.</li>
 <li>See total group and personal spending.</li>
</ul>
<figure width="100%">
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*RLiatTkGAD-dASwkNCMf4Q.png"
 alt=""
 width="100%" />
 <figcaption>Our app today</figcaption>
</figure>

 We’re using technology to ensure that friends and family have a healthy view
 of their social financial situation and in turn ensure you have a positive
 impact on your social network. Most people are very honest but little debts
 can slip their mind. With our app that’s no longer a problem as you can
 clearly see who owes who and how much.


 <img
 decoding="async"
 src="https://miro.medium.com/max/1258/1*38pNsnWACqlWjpz2_b5yPw.png"
 alt=""
 width="100%" />

<h5>How we’ll fix it in the future</h5>

 This is just the start. We want to make the whole experience amazing with an
 app you love. Some of the ideas we’re thinking about are:

<ul>
 <li>
 Adding your existing current account to view and split those transactions.
 </li>
 <li>Receipt scanning.</li>
 <li>
 Adding photos to bills so you can add receipts or those funny moments from
 nights out.
 </li>
 <li>Ability to pay more than one person at a time.</li>
</ul>

 We also want to know what you’d like us to do next and what you use your
 “Groups” for.


 Let us know by either leaving a comment below or via Live chat,
 <a
 href="https://twitter.com/BSocial_App"
 rel="noreferrer noopener"
 target="_blank"
 >Twitter</a
 >,
 <a
 href="https://www.facebook.com/bsocialapp/"
 rel="noreferrer noopener"
 target="_blank"
 >Facebook</a
 >,
 <a
 href="https://www.linkedin.com/company/b-social-ltd/"
 rel="noreferrer noopener"
 target="_blank"
 >LinkedIn</a
 >,
 <a
 href="https://www.instagram.com/bsocial_app/"
 rel="noreferrer noopener"
 target="_blank"
 >Instagram</a
 >. We will respond to every message we receive.


 To download the app, visit either the
 <a
 href="https://itunes.apple.com/gb/app/b-social-money-with-friends/id1224580897?mt=8"
 rel="noreferrer noopener"
 target="_blank"
 >App Store</a
 >
 or
 <a
 href="https://play.google.com/store/apps/details?id=com.bsocial"
 rel="noreferrer noopener"
 target="_blank"
 >Google Play.</a
 >


 We’re always looking for talented people to join our amazing team! Check out
 our
 <a
 href="https://b-social.com/careers/"
 rel="noreferrer noopener"
 target="_blank"
 >careers</a
 >
 page to see our current vacancies and get in touch.


 We aren’t a bank yet, but we are in the process of applying to the
 Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA)
 to become one!


 The B-Social card is a Beta debit Mastercard® and can be used wherever
 Mastercard® is accepted. Mastercard is a registered trademark, and the
 circles design is a trademark of Mastercard International Incorporated. The
 Card is issued by Wirecard Card Solutions Ltd (“WDCS”) pursuant to license
 by Mastercard International Inc. WDCS is authorised by the Financial Conduct
 Authority to conduct electronic money service activities under the
 Electronic Money Regulations 2011 (Ref: 900051)


 This is an e-money product and not covered by FSCS deposit protection.

Why we decided to tackle group spending

I’m thrilled to let you know that we’ve completed our £3.2 million Seed Round.


 This allows us to continue growing our team and enhancing our product,
 bringing us one step closer to making money as social as our lives.


 It’s an incredibly exciting and busy time for us and this is just the
 beginning. We will keep working to become a bank and are shortly moving to our
 new home in Holborn. Look out for invites to our B-Social evenings where we
 will share new product releases and have a chance to discuss your thoughts and
 ideas.


 I would like to thank all our very supportive investors and our 500
 trailblazing beta customers. We’re enormously grateful for all your support
 and constructive feedback — please keep it coming.


 Have an amazing holiday season and look forward to updating you in early 2019.

<blockquote>
 Nazim, CEO and the team
</blockquote>

 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*_TD42FXfq_wVsw5OR77TAA.jpeg"
 alt=""
 width="100%" />


 We would love everyone to join us on this journey and help us build a great
 bank, that is social at its core. Join us, download the app by visiting the
 <a href="/" rel="noreferrer noopener" target="_blank">website</a>.


 We’re always looking for talented people to join our amazing team! Check out
 our
 <a href="careers" rel="noreferrer noopener" target="_blank">careers</a> page
 to see our current vacancies and get in touch.


 We aren’t a bank yet, but we are in the process of applying to the
 Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA)
 to become one!


 The B-Social card is a Beta debit Mastercard® and can be used wherever
 Mastercard® is accepted. The card is issued by Wirecard Card Solutions Ltd
 (“WDCS”) pursuant to a licence by Mastercard International Inc. WDCS is
 authorised by the Financial Conduct Authority to conduct electronic money
 service activities under the Electronic Money Regulations 2011 (Ref:
 900051). Mastercard is a registered trademark, and the circles design is a
 trademark of Mastercard International Incorporated.


 This is an e-money product which is not covered by FSCS deposit
 protection.

Announcing our £3.2m Seed Round funding

Here at
 <a href="https://b-social.com/" rel="noreferrer noopener" target="_blank"
 >B-Social</a
 >
 we launched our live app on June 26th 2018 and since then, we’re on a mission
 to make money as social as your lives.


 We believe that financial life today is rarely confined to solitary spending
 and saving, but involves collaboration and sharing with our friends and
 family. B-Social allows customers to create groups based on their social
 lives.


 Our society is changing. With advances in technology, we’re becoming more
 connected than ever and we’re sharing more and more. From living together with
 others to who we go on holiday with. From one-off dinners to groups of friends
 who always socialise on a Thursday. We feel that our finances should keep up
 and should adapt to these changes so that we can always feel in control when
 it comes to our money and friends.


 Just as you share your experiences, you share your finances and we intend to
 make that whole experience easier, simpler, fairer. From lending money to each
 other, splitting bills to tracking spending over time, B-Social believes
 there’s a better way of doing things.


 Today you can set up a group between friends, pay for everyday spending and
 track your expenditure. We’re not stopping there though and we’ve got big
 plans for the future.

<figure>
 <img
 decoding="async"
 src="https://miro.medium.com/max/1400/1*hPgDBnYJVEdFZLm-p-0W-A.png"
 alt="" />
</figure>
<h5>Being social</h5>

 We aim to talk with you as often as possible, on this blog we will share
 updates on:

<ul>
 <li>Our product updates and what’s coming next;</li>
 <li>The technology that drives our app; and</li>
 <li>Company announcements and news</li>
</ul>

 At B-Social, we put customers at the heart of what we do, so your feedback and
 questions will help us in creating what you need — starting right now!

<ul>
 <li>What do you wish our app would do?</li>
 <li>What do you think of our website?</li>
</ul>

 To give us your answers to all or any of the above, contact us on Live chat,
 <a
 href="https://twitter.com/BSocial_App"
 rel="noreferrer noopener"
 target="_blank"
 >Twitter</a
 >,
 <a
 href="https://www.facebook.com/bsocialapp/"
 rel="noreferrer noopener"
 target="_blank"
 >Facebook</a
 >,
 <a
 href="https://www.linkedin.com/company/b-social-ltd/"
 rel="noreferrer noopener"
 target="_blank"
 >LinkedIn</a
 >,
 <a
 href="https://www.instagram.com/bsocial_app/"
 rel="noreferrer noopener"
 target="_blank"
 >Instagram</a
 >. We will respond to every message we receive.


 To download the
 <a href="https://www.b-social.com/" rel="noreferrer noopener" target="_blank"
 >app</a
 >, please visit our
 <a href="https://www.b-social.com/" rel="noreferrer noopener" target="_blank"
 >website</a
 >


 We’re hiring! If you would like to join us, head to our
 <a href="/careers/" rel="noreferrer noopener" target="_blank">careers</a> page
 to see our current vacancies and get in touch.


 We aren’t a bank yet, but we are applying to the Prudential Regulation
 Authority (PRA) and Financial Conduct Authority (FCA) to become one!


 The B-Social card is a Beta debit Mastercard® and can be used wherever
 Mastercard® is accepted. The card is issued by Wirecard Card Solutions Ltd
 (“WDCS”) pursuant to a licence by Mastercard International Inc. WDCS is
 authorised by the Financial Conduct Authority to conduct electronic money
 service activities under the Electronic Money Regulations 2011 (Ref:
 900051). Mastercard is a registered trademark, and the circles design is a
 trademark of Mastercard International Incorporated.


 This is an e-money product and not covered by FSCS deposit protection.

B-Social - The social financial company

Most people think improving their finances means one thing: saving more.

 But in reality, one of the biggest opportunities is much simpler, making
 better use of the money you already have.


 Small changes to how you organise, manage and move your everyday money can
 make a meaningful difference over time, often without requiring you to earn
 more or cut back.

Here are a few practical ways to make your money work harder.
<h5>1. Separate what you spend from what you keep</h5>

 One of the most effective ways to stay in control of your finances is to
 clearly separate your money into different purposes.

For example:
<ul>
 <li>Spending money for day-to-day use</li>
 <li>Short-term savings for upcoming expenses</li>
 <li>Longer-term savings for future goals</li>
</ul>

 When everything sits in one place, it’s easy to lose track of what’s actually
 available to spend. This can lead to overspending or leaving money sitting
 idle.

What to do
<ul>
 <li>Keep your everyday spending balance clear</li>
 <li>Move anything you don’t need immediately into savings</li>
 <li>Set aside money for specific goals or upcoming costs</li>
</ul>

 Using tools like <a href="/current-account/pots">Pots</a> can help make this
 easier, giving each part of your money a clear purpose so you always know
 where you stand.

<h5>2. Don’t leave large balances sitting idle</h5>

 It’s common to keep extra money in a current account “just in case”. While
 this can feel reassuring, it often means your money isn’t working as
 efficiently as it could.


 Over time, even small amounts left idle can add up in missed interest or
 missed opportunities.

What to do
<ul>
 <li>Decide on a comfortable buffer for your current account</li>
 <li>Move anything above that into a savings account</li>
 <li>Review this regularly as your spending changes</li>
</ul>

 The goal isn’t to move everything, just to make sure more of your money is
 working for you, not sitting still.

<h5>3. Build flexibility into your savings</h5>

 Many people avoid moving money into savings because they’re worried they might
 need it later.

But saving doesn’t have to mean locking your money away.

 Having access to your money, without penalties or restrictions, can actually
 make it easier to save consistently, because you know it’s there if you need
 it.

What to do
<ul>
 <li>Choose savings options that allow easy access</li>
 <li>
 
 Avoid overcommitting to accounts with strict conditions unless you’re sure
 
 </li>
 <li>
 Think of flexibility as part of your financial plan, not a compromise
 </li>
</ul>
<h5>4. Focus on consistency, not perfection</h5>
You don’t need to make big changes to improve your finances.

 In most cases, it’s the smaller, consistent decisions that have the biggest
 long-term impact.

What to do
<ul>
 <li>Check your balances regularly (weekly is often enough)</li>
 <li>Move small amounts into savings consistently</li>
 <li>Adjust your approach as your needs change</li>
</ul>
Over time, these small habits can make a significant difference.
<h5>5. Make the most of tax-free saving</h5>

 Once you’ve built a structure that works, it’s worth thinking about how to
 make your savings more efficient.


 A Cash ISA allows you to earn interest tax-free, which means more of your
 money stays yours.


 Importantly, modern ISAs don’t have to come at the cost of flexibility, you
 can still access your money when needed, depending on the type of ISA you
 choose.

<h5>A simple shift that makes a big difference</h5>
Improving your finances doesn’t always require big changes.
Often, it’s about:
<ul>
 <li>Being a little more intentional</li>
 <li>Keeping your money organised</li>
 <li>Making small adjustments regularly</li>
</ul>

 When your money is visible, structured and flexible, it becomes much easier to
 make it work for you.

<h5>Stay in control with Kroo</h5>
With Kroo, you can:
<ul>
 <li>
 Organise your money into <a href="/current-account/pots">Pots</a>
 </li>
 <li>Keep track of spending and savings in one place</li>
 <li>Move money easily between accounts</li>
 <li>
 
 Build savings that stay flexible with our
 <a href="/cash-isa">Flexible Cash ISA</a>
 
 </li>
</ul>

 Helping you stay in control of your everyday money, and get more from it over
 time.


 View our summary box <a href="/cash-isa#summary">here</a>, and to view our Key
 facts document, click
 <a href="/files/kroo-key-features-document-for-flexible-cash-isa.pdf">here</a
 >.

Are you making the most of your everyday money?

A new year is the ideal time to rethink your money habits, not by cutting out
 everything you enjoy, but by finding a balance that helps you feel more in
 control. Whether you’re saving for something big or just want to feel more
 confident day-to-day, a few simple principles can make managing your money
 much easier.


 Here are some practical ways to reset your approach to saving and spending
 this year.

<h5>Start with a quick spending check-in</h5>

 Before you make any changes, it’s helpful to understand where your money
 actually goes. Take a look at your spending from the past month, things like
 food, travel, subscriptions, shopping and nights out.


 This isn’t about cutting everything back. It’s about spotting patterns and
 seeing where small adjustments could help free up money for your goals.

<h5>Try a simple budgeting framework</h5>

 You don’t need a detailed spreadsheet to create a workable budget. One popular
 approach is the 50/30/20 rule:

<ol>
 <li>50% for essentials (rent, bills, food)</li>
 <li>30% for things you want (eating out, entertainment, treats)</li>
 <li>20% for savings or debt repayments</li>
</ol>

 Think of it as a guide, not a strict rule. Your percentages might look
 different, and that’s completely fine. The aim is simply to build awareness
 and give your money some direction.

<h5>Make space for “fun money”</h5>

 Saving doesn’t mean never treating yourself. In fact, budgets work best when
 they’re realistic and sustainable. Setting aside a small amount each month for
 things you enjoy, whether that’s meals out, trips, hobbies or impulse buys,
 helps you stay motivated and avoid burnout.

It’s all about balance, not restriction.
<h5>Use small habits to build momentum</h5>

 Big financial changes start with very small habits. Here are a few easy ones
 that can make a real difference:

<ul>
 <li>Put aside a small amount each week into a savings pot</li>
 <li>Set a weekly mini-review to check in on spending</li>
 <li>Break goals into smaller, achievable milestones</li>
 <li>Use separate pots or accounts for different goals</li>
</ul>
Small habits remove the pressure and make saving feel manageable.
<h5>Prioritise saving what you can, even if it’s small</h5>

 You don’t need to save large amounts for it to count. Even setting aside a few
 pounds a week helps build the habit and gives you a growing cushion over time.


 And if your income or expenses change later in the year, you can adjust your
 plan, saving is flexible, not fixed.

<h5>Find the balance that works for you</h5>

 There’s no one “right” way to manage your money. What matters most is finding
 a routine that helps you feel confident, prepared, and still able to treat
 yourself. A balanced approach means saving for the future while still having
 space for the things that make the present enjoyable.


 If you’re looking to start the year strong, pairing simple spending awareness
 with automated saving and achievable goals can help you make real progress,
 one small step at a time.

Saving vs. Spending: How to Balance Your Budget This Year

At Kroo, we’re committed to making money management simpler and more
 transparent. This year, we were part of a major milestone for UK banking: the
 first commercial Variable Recurring Payment (cVRP) using Visa’s new A2A
 (Account-to-Account) technology, alongside Visa, Tink and Utilita. It’s an
 important step toward a smarter, more flexible way to handle recurring
 payments.

<h5>What are Variable Recurring Payments (cVRPs)?</h5>

 cVRPs are essentially the next step forward from Direct Debits. Instead of
 giving a company ongoing permission to take money whenever they choose, cVRPs
 let you set the rules.

<ul>
 <li>You decide spending limits.</li>
 <li>Control how the payment works.</li>
 <li>Receive real-time visibility.</li>
 <li>Cancel permissions instantly.</li>
</ul>

 It’s a modern, open-banking-powered way to manage recurring bills with far
 more transparency and choice.

<h5>Why this wasn’t possible before</h5>

 Although open banking made instant payments possible, it lacked the shared
 standards and consumer protections needed to support recurring payments at
 scale. There was no consistent commercial model, no trustmark, and no clear
 dispute process.


 Visa A2A changes this by combining instant open-banking payments with
 Visa-level protections and standardised rules across the industry. It’s the
 framework that finally makes cVRPs practical for everyday use.

<h5>How the first transaction worked</h5>
For the first live cVRP:
<ul>
 <li>Tink initiated the request and confirmed funds.</li>
 <li>
 Kroo authenticated and approved the customer’s payment instantly.
 </li>
 <li>Visa handled the risk and protection framework.</li>
 <li>
 
 Utilita demonstrated how customers can set up and manage their payment
 mandate in real time.
 
 </li>
</ul>

 The result was a smooth, instant recurring payment, without the delay,
 uncertainty or lack of visibility common with traditional Direct Debits.

<h5>Why it matters</h5>

 For customers, this means more control and clearer visibility over recurring
 bills, with the confidence of Visa’s protections if something goes wrong. For
 businesses, it brings faster settlement, fewer failed payments and easier
 reconciliation. And for the industry, it offers a scalable route to finally
 bring open banking into everyday financial life.

<h5>What’s ahead</h5>

 Visa plans to expand A2A payments across subscriptions, household bills and
 more. With the first commercial transaction complete, broader adoption of
 cVRPs is expected to follow.


 At Kroo, we’re proud to be helping shape the future of recurring payments and
 look forward to bringing more innovative and customer-focused payment
 experiences to the UK.

<iframe
 width="100%"
 height="600"
 src="https://www.youtube.com/embed/SwC-4PuDeqQ?si=xvYQnEZcJJLybnRn"
 title="YouTube video player"
 frameborder="0"
 allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share"
 referrerpolicy="strict-origin-when-cross-origin"
 allowfullscreen></iframe>

The Future of Recurring Payments: Kroo Helps Deliver a UK First

At Kroo, keeping your account safe is our top priority. That&rsquo;s why we
 work closely with CIFAS, the UK&rsquo;s fraud prevention service.

<h5>What is CIFAS?</h5>

 CIFAS is a national database that helps stop fraud across the UK. Over
 700 banks, credit card companies, insurers, and financial providers
 share information through CIFAS to spot and prevent suspicious activity.

<h5>Why you might have a CIFAS marker</h5>
There are a few reasons a CIFAS marker could appear on your record:
<ul>
 <li>
 
 You&rsquo;ve requested one yourself because you&rsquo;re
 worried about identity fraud.
 
 </li>
 <li>
 
 We believe your identity may have been used fraudulently,
 and we&rsquo;ve added a marker to protect you, not to penalise you.
 
 </li>
 <li>
 
 In some cases, we may have
 reasonable grounds to suspect fraudulent activity linked
 to an account. When that happens, we use markers to help protect other
 customers and prevent further fraud.
 
 </li>
</ul>

 We know that mistakes can happen, and if you believe a marker has been added
 in error, we&rsquo;ll always review it carefully.

<h5>What a marker means</h5>

 A CIFAS marker is added to the National Fraud Database, where
 it can be seen by other member organisations. It simply acts as a flag,
 encouraging extra checks if you apply for financial products or services in
 the future.

<h5>If you think there&rsquo;s been a mistake</h5>

 If Kroo has added a marker and you disagree, please get in touch with us
 first.

<ul>
 <li>
 
 Follow our complaints process and share as much
 information and supporting evidence as possible.
 
 </li>
 <li>If we agree with you, we&rsquo;ll remove the marker.</li>
 <li>
 
 If we don&rsquo;t, we&rsquo;ll send you a
 Final Response confirming that we&rsquo;ve reviewed your
 case and are upholding the decision.
 
 </li>
</ul>

 If you&rsquo;re still unhappy, you can escalate the matter to the Financial
 Ombudsman Service for an independent review.

<h5>In short</h5>

 CIFAS exists to protect everyone from fraud. While markers can sometimes cause
 concern, they play an important role in keeping accounts safe, and if
 there&rsquo;s ever an error, we&rsquo;ll work with you to put things right.

Understanding CIFAS and how it helps protect you

Are you playing catch-up with your finances? You're not alone! In a world
 where the cost of living keeps climbing, it's easy to feel overwhelmed. But
 you don’t need to be a financial expert to get a grip on your money. Let’s
 break down the basics.


 Financial literacy is the ability to understand and effectively use various
 financial skills, categorised by the four fundamental pillars of finance:
 debt, budgeting, saving, and investing.


 But alarmingly, almost three-quarters (73%) of the country fell below the
 benchmark for financial literacy, and just 5% could answer 10 questions about
 frequently discussed topics correctly.*


 With April marking Financial Literacy Month and Stress Awareness Month – a
 coincidence, we think not. Taking baby steps to get control of your finances
 can help tackle both issues. If you know how to manage them, you can often
 make them go further.

<h5>Debt, you’ve been misunderstood</h5>

 Debt is an amount owed to a person or organisation for borrowed funds that
 need to be repaid. Whether it's your student loan, credit card, or mortgage,
 debt often comes with interest, so being hyper-aware of your terms and
 conditions is essential.


 But being in debt isn’t always a bad thing. Effectively managing debt and
 creating a foolproof strategy for paying off debts in time and in full can be
 a great way of paying for goods and services in the short term while also
 working to boost your credit score, which can help when taking out loans and
 mortgages in the future.

<h5>Budgeting, keeping your eyes on the price</h5>

 Effective budgeting is all about knowing what’s coming in and what’s going
 out. Simple, right? Keep an eye on your spending habits to see where you could
 cut some unnecessary expenses too.


 Making the most of Kroo’s zero fees abroad or using the simple tools in place
 for splitting bills with your friends through the Kroo app can help make sure
 you’re not losing some of your hard-earned cash – and budget for the month –
 when you don’t need to.

<h5>Saving, keeping your eyes on the prize</h5>

 We all aspire to be great savers, but life happens, and at the end of the
 month, it can feel like mission impossible sometimes. To ensure you can save,
 set aside even a small portion of your income as soon as it comes in, rather
 than waiting to see what is left at the end of the month. Little by little, it
 adds up – even saving £1 a day can leave you with over £300 set aside at the
 end of each year!


 Kroo Pots come in handy here, giving you a dedicated space to save. You can
 give each Pot an individual name and use (whether it’s a dream holiday or a
 dream home), which can help keep you on track.

<h5>Investment, making your money grow (potentially)</h5>

 Unlike savings, where you put your money aside and watch it grow, investing
 your money gives it the potential to grow through external factors.


 Investing, at its core, involves buying an asset and selling it on to make a
 profit, or ‘capital gain’. This can involve the buying of shares, bonds,
 commodities or directly linking to property. The price of the assets you buy
 is affected by market price and goes up or down based on this.


 But thinking about investment in individual terms could involve being aware of
 how to invest in yourself and your future. This could be through the simple
 act of getting serious about saving or enquiring further about how your
 organisation is managing your pension, if this is something that applies to
 you. Or it can even involve whether you should be investing in upskilling
 yourself to give you the best chance of landing a new role or promotion in the
 future.


 Ultimately, investing can be a powerful tool but is something that shouldn’t
 be taken lightly without understanding the risks and potential pitfalls
 involved.


 Improving your financial literacy doesn’t have to be stressful. This financial
 literacy and stress awareness month, take control and start small.

Here are five quick-fire actions you can take to get started today:
<ul>
 <li>
 Setting up a dedicated savings Pot with your Kroo current account and
 working out how much you can commit to pay in from your income each month
 </li>
 <li>
 Having a subscription service audit – are you really using that streaming
 service?
 </li>
 <li>
 Signing up for the Money Saving Expert weekly newsletter, which comes
 crammed with timely tips, tricks and actionable steps to take
 </li>
 <li>
 Creating a spending diary for the week and monitor your outgoings to see
 where you could make little savings which add up
 </li>
 <li>
 Checking out comparison tables and making sure you’re getting a good deal
 and a high interest rate on your current account – like you do with Kroo!
 </li>
</ul>
Take control and start small. You’ve got this!

 To find out more about a wide range of topics relating to financial literacy
 please check out the below pages:

<ul>
 <li>
 
 <a href="/blog/tackling-your-financial-goals"
 >Kroo – Take Control of your Finances for 2024</a
 >
 
 </li>
 <li>
 
 <a
 href="https://www.moneysavingexpert.com/family/financial-education/"
 target="_blank"
 rel="noopener"
 >Money Saving Expert – Financial Education</a
 >
 
 </li>
 <li>
 
 <a
 href="https://themoneycharity.org.uk/resources/"
 target="_blank"
 rel="noopener"
 >The Money Charity - Resources</a
 >
 
 </li>
 
 *Source:
 https://www.wealthify.com/blog/what-is-the-uk-s-level-of-financial-knowledge
 
</ul>

Financial literacy 101: How to take control

An impersonation scam is where you're convinced to make a payment to someone
 claiming to be from an organisation you trust. This could include a bogus tax
 refund offer or providing your bank details to “your bank”.


 Often, these scams begin with a call, email or text message that appears to be
 from a trusted organisation. Criminals use a tactic called spoofing to make
 their call or text message appear genuine by cloning the number or sender ID
 the organisation uses. Criminals copy designs and the branding of genuine
 websites to trick people into handing over their personal information. These
 details are then used to access people's bank accounts or are sold on.

<h5>How to spot an impersonation scam:</h5>
<ul>
 <li>
 You receive a call, text or email out of the blue with an urgent request to
 make a payment or request for your business's financial information.
 </li>
 <li>
 You're asked to act immediately, sometimes with the claim that “payments
 need to be verified” or to claim “a pending tax refund”.
 </li>
 <li>
 The caller may ask you to download software onto your computer/mobile
 device.
 </li>
 <li>
 The sender's email address domain is different to that of the genuine
 organisation.
 </li>
</ul>
<h5>Example of pending tax refund</h5>

 You receive an email from what appears to be HMRC informing you that you are
 eligible for a tax refund, with a link leading to the “official claim
 application form”. Some extra funds would be great as you need to start paying
 off that holiday! You click the link and hurriedly fill out the form, not
 wanting to miss the stated deadline. However, you failed to notice that the
 email you received was, in fact, not from HMRC, the link the email contained
 was inconsistent with the official GOV.UK's URL and the email addressed you as
 “Dear Customer” instead of using your full name. The form you had just
 completed with all your personal information was also fake.


 Several days later, you notice transactions you don't recognise on your bank
 statement.


 If only you had taken a moment to contact HMRC directly to validate the
 request prior to completing the form and handing over your details.

<h5>HMRC - How to protect yourself</h5>

 Do not click or open attachments or links in unexpected emails and messages
 (they may contain malicious software).


 Do not type your bank or card details into a website link (this may result in
 unrecognised transactions).


 Please be advised that HMRC sends text messages to some of its customers. In
 the text message, they might include a link to GOV.UK information or to HMRC
 webchat. HMRC will never ask for personal or financial information when they
 send text messages.

HMRC uses QR codes in 2 different ways:
<ul>
 <li>
 QR codes are sometimes used in letters and correspondence, but only to guide
 you on GOV.UK — they will not take you to a page where you have to input
 personal information.
 </li>
 <li>
 When you are logged into your HMRC account, a QR code may be used to
 redirect you, for example, to your bank login page.
 </li>
</ul>

 If HMRC uses QR codes in communications you'll be able to see them on the
 genuine HMRC contacts page.

<h5>What to do if you've fallen victim to a scam?</h5>

 If you believe you have fallen for a scam, immediately contact your bank on a
 number you know to be correct, such as the one on the back of your bank card.


 To help fight phishing scams, you should send any suspicious HMRC text
 messages to 60599 (network charges apply) or email phishing@hmrc.gov.uk, then
 delete them.

<blockquote>
 
 
 Report it to Action Fraud on 0300 123 2040 or via actionfraud.police.uk.
 If you are in Scotland, please report to Police Scotland directly by
 calling 101 or Advice Direct Scotland on 0808 164 6000.
 
</blockquote>

 Visit
 <a
 href="https://www.takefive-stopfraud.org.uk/"
 target="_blank"
 rel="noopener"
 >https://www.takefive-stopfraud.org.uk/</a
 >
 for further information.

References
<ol>
 <li>
 <a
 href="https://www.gov.uk/government/publications/phishing-and-bogus-emails-hm-revenue-and-customs-examples/phishing-emails-and-bogus-contact-hm-revenue-and-customs-examples#:~:text=We%20advise%20you%20not%20to,gov.uk%20then%20delete%20them"
 target="_blank"
 rel="noopener"
 >https://www.gov.uk/government/publications/phishing-and-bogus-emails-hm-revenue-and-customs-examples/phishing-emails-and-bogus-contact-hm-revenue-and-customs-examples 
 </a>
 </li>
 <li>
 <a
 href="https://www.takefive-stopfraud.org.uk/advice/business-advice/impersonation-scam-business/"
 target="_blank"
 rel="noopener"
 >https://www.takefive-stopfraud.org.uk/advice/business-advice/impersonation-scam-business/</a
 >
 </li>
 <li>
 <a
 href="https://www.independent.co.uk/money/hmrc-tax-return-scam-refund-b2496030.html"
 target="_blank"
 rel="noopener"
 >https://www.independent.co.uk/money/hmrc-tax-return-scam-refund-b2496030.html</a
 >
 </li>
</ol>

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