Mobile-only bank, Monzo, has selected Apperio’s legal spend management and analytics SaaS platform to help it track and analyse legal spend across all law firms, in real-time, in one place.
Monzo was said to have been frustrated with the limitations of their current manual process where they received spend updates on an ad-hoc basis from their law firms.
Dean Nash, head of legal & compliance, commented: “We’re pleased to announce we’ve chosen Apperio to manage all of our external legal spend. Apperio gives us increased visibility over our external legal costs and enables us to spot anomalies in spending quicker.
“Monzo’s rapid growth in a very short space of time has resulted in increased external legal spend. Having real-time data to help us track and understand where we are investing in legal services was critical to us to make sure that we are investing in the right areas and are working with firms that are delivering real, sustainable value to us. We’ve found a great solution in Apperio, that gives us this data in a simple and digestible format and enables the Legal team to focus on supporting the overall growth of Monzo.”.