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.

<h5>We’ve got big news.</h5>
Kroo started from a simple, ambitious idea – to be the first bank people trust and love.
That’s why we’re thrilled to invite our growing community to own a piece of Kroo’s future through crowdfunding. Join us at the table as we embark on our mission to change banking for good.
<img decoding="async" src="/crowdfunding-blog/our-success-so-far.webp" alt="our success so far" />
<h5>Our success so far.</h5>
We put customers at the heart of everything we do and champion the social values they care about. Because we believe it is possible to be a successful, profitable business whilst ensuring that our customers and the planet are better off.
We’re off to a great start. We’ve raised £72m from private investors, including £14.5m in this round. Since launch, we've opened 145k current accounts and acquired £765m in deposits with an average acquisition cost of £38. Given these early results, we aim to deliver profits faster than any new UK bank with a current account.
<img decoding="async" src="/crowdfunding-blog/exciting-stuff.webp" alt="the profit extraction model has been unchallenged for too long" />
<h5>Exciting stuff – but what makes Kroo different from other banks in the market?</h5>
The profit extraction model of traditional banks has been unchallenged for too long. With the current high interest rate environment, banks have turned £13bn of unearned interest into profits at the expense of customers.
We believe banking can and should offer so much more.
From our high-interest earning current account that pays 4.35% AER/4.27% Gross (variable) on balances up to £500,000 to our excellent in-app customer experience, Kroo wants to make banking better. And we’re just getting started; there is so much more we want to do. That’s why who you invest in really matters.
<img decoding="async" src="/crowdfunding-blog/dont-just-take-our-word.webp" alt="don't just take our word for it" />
<h5>But don't just take our word for it.</h5>
In January, consumer finance expert Martin Lewis, in his primetime Money Show, labelled Kroo as ‘the best open to all, easy access savings with unlimited withdrawals since 2012’. We've built on this endorsement and are currently rated excellent on Trustpilot. And we were recently named one of Sifted’s top 10 fastest-growing fintechs in Europe.
And there’s more to Kroo. Our strong social conscience is in our DNA. Our goal is to plant 1 million trees on behalf of our customers by the end of 2024. Our staff have volunteered 450 hours so far this year, and we have already committed to Tech Zero.
<h5>What’s in it for me as a Kroo shareholder?</h5>
This is more than an investment opportunity. We’re redefining the relationship customers have with their bank and need a community of like-minded trailblazers with us. We’d love to invite you to join our community and pitch in with our decisions.
Our crowdfund is a chance for you to be part of the movement to change banking for good.
You’ll help us decide what products and features to build next as we look to the future.
<img decoding="async" src="/crowdfunding-blog/im-in.webp" alt="I'm in. How do i get involved?" />
<h5>I’m in. How do I get involved?</h5>
It’s simple: Sign up through our partners at Crowdcube to invest <a href="https://www.crowdcube.com/companies/kroo-bank-ltd/pitches/by9eYb" target="_blank" rel="noopener">here</a>.
For more information about our crowdfund, visit our <a href="/crowdfunding" target="_self" rel="noopener">FAQs</a>
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to <a href="https://www.crowdcube.com/explore/risk-warning" target="_blank" rel="noopener">learn more</a>.

Invest in Kroo and help us change banking for good.

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

Every year on 22 April, Earth Day marks the anniversary of the birth of the modern environmental movement in 1970.
This year's theme is 'Invest In Our Planet', and we'd like to tell you more about how we're doing just that here at Kroo. We've also put together a few suggestions for how you can be more sustainable while saving yourself some hard-earned cash. 
First off, our partnership with <a href="https://onetreeplanted.org/" target="_blank" rel="noopener">One Tree Planted</a>. We're sure you've heard about our tree planting programme and ambition to plant 1 million trees by 2024, but do you know where we plant them? Well, when you open a Kroo current account, we'll plant two trees on your behalf in two communities where it will make a real impact. 
<h5>Restoring the southwest coast of Guatemala</h5>
Planting mangrove and broadleaf trees along Guatemala's southwest coast to restore 1,025 hectares of land while increasing livelihood opportunities for over 400 families.
<h5>Fruit trees to fight hunger in India</h5>
Improving employment opportunities and gender equality by employing local women at newly-built Uttar Pradesh and Haryana nurseries.
<blockquote>

“Giving something back is at the heart of Kroo. It's in our nature. Whether it's putting money back into our customers' pockets or supporting communities worldwide through our partnership with One Tree Planted.
We launched Kroo to change banking for good and won't stop until it's done.” 
Andrea De Gottardo, CEO

</blockquote>
<h5>How you can do your bit</h5>
We're not here to preach. All of us can do more to support this cause (we're working on it). But we've come up with a few simple suggestions for how you can make an impact day-to-day.
<h5>1. Walk or cycle</h5>
Public transport can be pricey, especially in London. Walking or cycling means getting around for free and reducing emissions while keeping fit. 
<h5>2. Invest in reusables</h5>
Funding that coffee habit is expensive enough already, so why not bring your own reusable cup? It'll mean fewer paper cups in the bin and potentially a little money back in your pocket! 
<h5>3. Try second hand</h5>
It's never been easier to buy and sell second-hand clothes, shoes or furniture with websites like eBay and Depop. And don’t forget about refurbished devices. You can save a chunk of change on some nearly new tech. 
<h5>4. Go flexitarian</h5>
This is controversial, but avoiding meat and dairy is the single biggest way you can reduce your impact on the earth as an individual. You don't have to cut it out entirely, but having a few meat-free dinners a week can really make a difference. 
<h5>5. Get cooking</h5>
Lunch on the go is often slathered in plastic packaging, so why not bring in a homemade tasty treat instead? Sure, it'll take a bit of time and planning, but it can save you a ton of money every day. 
<h5>6. Eat savvy</h5>
Veg boxes have become a big thing in recent years, with loads of major supermarkets getting involved, so keep an eye out next time you're food shopping. <a href="https://www.oddbox.co.uk/" target="_blank" rel="noopener">Oddbox</a> is also great for getting cut-price wonky fruit and veg. And <a href="https://toogoodtogo.co.uk/en-gb" target="_blank" rel="noopener">Too Good to Go</a> is a brilliant way to tackle food waste while getting some delicious grub. 
<h5>7. Shorten your shower</h5>
The average shower lasts eight minutes and uses roughly 16 to 40 gallons of water. Lathering up with the tap off helps the planet (and your water bill). Using your washing machine and dishwasher less has the same effect, so stick to full loads.

Earth Day 2023

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

It’s no secret that we’re at a crossroads when it comes to our environment. The headlines have been full of unprecedented heatwaves, cold snaps and weather changes from all four corners of the world for a while now. Our planet has taken a bit of a beating and needs our help before it’s too late.
When it comes to banks and financial institutions, they’re sometimes on the wrong side of these headlines, some profiting from the things that are damaging our ecosystem, whether that be deforestation, child labour, arms sales or trafficking. Which is why we think it’s so important to take a stand and make a positive difference.
<h5>Social responsibility</h5>
We’re in the process of building the greatest social bank and that, amongst other things, means being socially responsible. But it’s not just about us — we want to make sure our customers are able to contribute to making the world a better place.
This means digging deeper than just addressing social finances in a new way. We want to cultivate a strong social conscience that resonates within our business as well as in the lives and values of our customers.
We’re not defining the views of our customers. Quite the opposite — their views are what define our business. We want them to know we share their values. And part of this is demonstrating our shared ethical responsibility to help heal our environment through action.
<h5>Actions speak louder than words</h5>
<figure><img decoding="async" src="https://miro.medium.com/max/1400/1*dHjn5946Oi7Y9HwFfFVIdw.jpeg" alt=""/></figure>
It’s important to us that we’re active in our commitment to being socially responsible. By doing something with a tangible and ecologically-friendly effect, we’d be putting our money where our mouth was, so to speak.
Many options were discussed, but in the end, we chose to start with a tree planting referral system. We settled on this as a jumping-off point due to the huge positive environmental impact trees have on the world around us.
<h5>How trees help our world</h5>
When most people think of trees, they think of clean air — which is one of their main positive effects — but there’s so much more to it than just that. They also filter water, reduce flooding risks, help prevent landslides and support a huge portion of the world’s biodiversity in one way or another.
In terms of clean air, trees absorb carbon dioxide and produce oxygen. Considering the proven scientific effect carbon dioxide has, this gives the fight against climate change a big boon, removing a key player in the greenhouse gases team. Trees lock this carbon away in their wood, meaning it can’t affect the delicate balance of the atmosphere. But a lot of the benefits of trees happen under the surface.
The intricate lattice work of a tree’s roots helps to filter water around the tree while also drinking some of that water up. This helps reduce flooding by dispersing rain water during heavy downpours, while the roots anchor and strengthen the ground around the tree, helping to prevent landslides and keep everything in place.
<figure><img decoding="async" src="https://miro.medium.com/max/3642/1*g8T4y8ozAXRGipNq7I-F7A.png" alt=""/></figure>
And on top of this, a single tree can be home to hundreds of different kinds of insects, fungi, moss, mammals and other plants. They provide food and shelter for all different kinds of life, whether it’s wild, domesticated or someone taking a stroll on their lunch break.
<h5>Planting a Kroo Forest</h5>
Its obvious trees are a vital worldwide ecological asset. Which is why we partnered up with One Tree Planted. So, whenever a Kroo customer invites one of their friends to Kroo, and that referee successfully opens an account, we will plant 20 trees on their behalf, helping to reduce their carbon footprint and provide the world a long-term benefit.
<figure><img decoding="async" src="https://miro.medium.com/max/1400/1*wIgkTd9GBgqcsSlNpWy-8w.png" alt=""/></figure>
Our goal is to plant over 1 million trees. So, the more people referred, the more trees we plant, the more we all help the planet. Later on this year we want to allow customers to be able to keep track of the size of their personal contribution to this Kroo forest. This may come in the form of tapping on their profile section to see how many trees they’ve played a part in planting.
<h5>And this is just the start</h5>
It would be lovely if something this simple was all that was needed to help heal the world around us, but we’re well aware more needs to be done. There are other impacts that need to be addressed.
That’s why our tree planting initiative is only the beginning — a first step of many on the journey to becoming a socially conscious bank and making our environment better.
We’re also working on a few other ways our Kroo customers will be able to help out, like having the option to offset the carbon produced by their purchases, teaming up with socially and ecologically like-minded companies and charities, to name a few. These are the kinds of programmes you can expect from Kroo, as we look for socially responsible ways to embed the values of our customers in our business.
<h5>Getting involved</h5>
If any of this sounds appealing and you’d like to join us on our journey, there are a number of ways you can play a part. The first is signing up, then inviting your friends and family.
We’re also a growing business, so check out our career vacancies and see if you have the skills and experience you can bring to the table. From developers to designers, and all that lies in between, we’d love to see you on our team.

Making a difference one tree at a time

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

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

When Kroo was granted its banking license in June 2022, it was backed by a clear mission: to be a bank that is trusted and loved by our customers. We believed that banking needed to change, and in a big way. Our goal was to reshape the perception of banks by committing to practices that prioritised transparency, fairness, and our customers.
In December 2022, our mission began to take shape: first, with the release of our personal current account (PCA), accompanied soon after by an overdraft, then loans. In the near future, we will be adding to that offering with the launch of an attractive cash ISA. In surpassing £1 billion in customer deposits, and with that, paying back to them over £55.2 million in interest as of November 1, 2024, today, we celebrate another step towards becoming a bank that customers can truly trust and love.
These achievements represent the confidence our customers have placed in us and our desire to reward that belief by improving their financial position. It’s this orientation towards our customers — ensuring they are at the heart of every decision — that inspires us to challenge the status quo and do things differently.
<h2>Why Banking Needed to Change.</h2>
Over the last couple decades, mishaps within the banking industry, such as the 2008 financial crisis and the Payment Protection Insurance (PPI) scandal resulted, for many, in financial loss and frustration.
Fast-forward to today, and many households are grappling with a cost-of-living crisis while some <a href="https://www.cityam.com/big-banks-see-record-44bn-profit-from-interest-rate-hikes/" target="_blank">banks report record profits</a>. Customers deserve better. They deserve a bank that not only safeguards their money but also helps it grow.
<h2>That’s where Kroo comes in.</h2>
Enter Kroo: A New Kind of Bank.
When our founders, Nazim Valimahomed and Tim Brown first envisioned Kroo back in 2016, their idea was radical: a bank that actually helps people? No sneaky fees, no gimmicks — just straightforward products that put customers first:
<ul>
<li>A PCA that earns a savings rate: The money customers use for everyday expenses grows at the same rate as their savings, 3.65% AER, putting more money back in their pockets.</li>
<li>Loans built to support, not stress: With a representative APR of 12.5% for loans up to £10,000, Kroo personal loans provide customers access to cash when they need it most.</li>
<li>And, coming soon, Flexible Cash ISAs: With the Kroo Flexible Cash ISA, launching early 2025, we’re bringing customers yet another simple way to save, at a rate we think they’ll love.</li>
</ul>
These products represent the first steps we've taken towards becoming the bank Nazim and Tim originally conceived: one that is trusted and loved for its transparency, fairness, and desire to serve its customers.
<h2>Trusted and Loved.</h2>
Since the launch of our PCA 2 years ago, we’ve opened over 200,000 accounts whilst reaching over £1 billion in deposits, and with the help of our tracker rate, currently set at 1.1% below the base rate, we’ve been able to pay back over £55.2 million in interest to customers.
What Do These Milestones Mean?
<ul>
<li>For our customers: It means products and services that are built to reduce friction, have their back, and make them richer.</li>
<li>For Kroo: It’s a tangible representation of our customer’s trust in our practices and in our ability to deliver products and services that they love.</li>
<li>For the future: It shows what’s possible when a bank chooses to prioritise long-term customer relationships over short-term profit.</li>
</ul>
<h2>A Big Thank You.</h2>
While we’re incredibly proud of these milestones, we see them as just the beginning. Our mission to transform banking is ongoing, and we’re excited to bring more innovative products and services to our customers soon. Whether it’s improving savings options or expanding financial tools, we’re just getting started.
So, to every customer who has joined us on this journey, thank you.
<h2>Not a Customer Yet?</h2>
Discover how Kroo can help make your money work harder. Open a personal current account today and start earning 3.65% AER / 3.59% Gross (variable) on your everyday balances.Open your account now.

Kroo: Where Your Money Works Harder for You.

Here at Kroo, we’re committed to doing our bit for the planet and making sustainable choices. But this work is never over. That’s why we’re focused on working towards meaningful progress rather than chasing perfection. 
What we choose to finance shapes the world around us – every penny and pound we spend or invest has a ripple effect throughout our economy. Because of this influence, the financial services industry plays an essential role in building a more sustainable future, and we want to be part of trailblazing this change. 
The banking industry has a long road ahead, but as we celebrate Earth Day, we want to highlight the sustainability projects we are currently involved with. Since we launched our current account in December 2022, we’ve pledged to plant two trees for every customer through our partnership with One Tree Planted. This partnership helps us take tangible steps to restore our ecosystems and bolsters biodiversity while giving back to communities. 
<h5>One Tree Planted in Guatemala</h5>
Our support in restoring the southwest coast of Guatemala is ongoing. So far, we've contributed to help increase plant biodiversity and, through our partners, provided training and education to the local communities to help them plant and manage the systems.
<h5>Ecological benefits of the overall project:</h5>
The transition from slash-and-burn, chemical corn monocultures to biodiverse organic agroforestry systems has been incredibly beneficial for the environment 
Improve soil erosion control, increase biodiversity, sequester carbon, provide wildlife habitat, filter water, and improve nutrient cycling 
A 325% increase in plant biodiversity, from 4 species per meter square to 11 species per meter square 
An increase in organic soil horizons, as well as the overall volume of soil accumulated
<h5>Community benefits of the overall project:</h5>
<ul>
<li>Training and educating the communities to help them plant and manage the new system</li>
<li>The purchase of produce from the communities, paying them a fair price, and shipping the products to their value-added processing centre in Antigua.</li>
<li>Three processing equipment setups, including presses/dryers for flour, squeezers for cane juices/kombuchas, and fermenting stations</li>
<li>Increased food security for families, nutrition, and a respect for nature, discouraging the use of chemicals empowering locals to continue and expand this regenerative transition themselves</li>
</ul>
<h5>One Tree Planted in Punjab</h5>
We've just completed our contribution to this project. The focus was on developing mini forests, parks, and fruit orchards for villages across the state. These projects host various birds and insects, acting as anchors for biodiversity conservation. 
<h5>Our impact:</h5>
<ul>
<li>As a result, these areas act as carbon sinks, improving soil quality, reducing erosion, increasing groundwater, and reducing waterlogging</li>
<li>When it comes to the community impact, we support One Tree Planted in working towards enhancing landscapes, providing shade and restoring agricultural land, and providing fruit as food for people, birds and other wildlife</li>
</ul>
We'll be announcing our next exciting project in partnership with One Tree Planted soon. 
In addition to these projects, Kroo’s commitment to <a href="https://techzero.technation.io/" target="_blank" rel="noopener">TechZero</a> means that we’re measuring and reporting our greenhouse gas emissions and establishing a target date for reaching net zero. 
There is so much more potential to contribute to changing the relationship between banking and sustainability. These initiatives are just a start on our sustainability journey, but we think they are something to be proud of.

Kroo's sustainability projects

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></h5>

<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

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>

What is an impersonation scam?

The Future of Recurring Payments: Kroo Helps Deliver a UK First

Understanding CIFAS and how it helps protect you

Kroo: Where Your Money Works Harder for You.

Kroo's sustainability projects

Financial literacy 101: How to take control

What is an impersonation scam?

The Future of Recurring Payments: Kroo Helps Deliver a UK First

Understanding CIFAS and how it helps protect you

Kroo: Where Your Money Works Harder for You.

Kroo's sustainability projects

Financial literacy 101: How to take control

What is an impersonation scam?

More from Kroo.

Keep your money safe.

A healthy financial relationship.

Tackling your financial goals.

Volunteering at Kroo.

Christmas budgeting tips.

Be scam-savvy this Black Friday and Cyber Monday.

Blog posts

The Future of Recurring Payments: Kroo Helps Deliver a UK First

More from Kroo.

Keep your money safe.

A healthy financial relationship.

Tackling your financial goals.

Volunteering at Kroo.

Christmas budgeting tips.

Be scam-savvy this Black Friday and Cyber Monday.