Fintech Buoys Yachting Industry

  • Banking
  • 15.06.2021 02:05 pm

Monneo, a virtual IBAN and corporate bank account provider, is proving a hit with yachting and marine businesses.

Unlike traditional banks, Monneo simplifies the management of corporate banking for companies with unique financial needs.

Having a multi-tiered structure provided by Monneo, allows companies better visibility and control of funds as they can decide how much money to transfer to each yacht and its crew’s sub-accounts.

An ideal solution for managing expenses, and potentially saving yacht owners and management companies $millions each year, it allows for the payment of international expenses, maintenance, international money transfers and deposits, as well as accepting different currencies and dealing with different languages.

Lili Metodieva, Managing Director at Monneo explains; “Currently, too much time is diverted away from the priorities and into cumbersome expense tools and spreadsheets. In addition to our digital banking services, Monneo provides a super easy tool that gives ultimate control and accountability to finance management. A purpose-built multi-card, multi-currency account that enables staff to transact, record and review expenses in real time at the click of a button. This makes life easier for captains and crews onboard, and ultimately provides a better service for yacht owners.”


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