Monkee: The Fintech Redefining Financial Wellness

Monkee, based in Austria, is not just another neobank. It positions itself as a “Financial Coach in your pocket,” helping users build better financial habits with the goal of improving their long-term financial health. Unlike standard fintechs that focus on payments or investing, Monkee carves out a niche around smart saving and financial wellness.

We spoke with Christian Bacher, co-founder and CEO of Monkee, about the company’s journey, mission, monetization model, and how it competes against both traditional banks and new fintech players.

About the Founder: Who is Christian Bacher?

Christian Bacher is an Austrian entrepreneur with a background in strategy consulting and digital transformation. Before founding Monkee, he held positions at Deloitte and T-Mobile. His vision with Monkee is to apply behavioral science and gamification to help people save money for the things that matter most in life.

Interview with Christian Bacher, CEO of Monkee

The Origins of Monkee

What inspired you to launch Monkee?
We were personally frustrated by how hard it was to build sustainable saving habits. Most tools focused on spending or investing but ignored the behavioral root of why people don’t save. We wanted to flip that.

What problem does Monkee solve in the market?
Many Europeans struggle to save even a few hundred euros for emergencies. Monkee acts as a motivational savings assistant, helping people define goals, automate micro-savings, and earn partner cashback on top.

How is Monkee different from a traditional neobank?
We’re not a bank. We partner with licensed institutions for accounts, but our focus is purely on habit-building and long-term savings motivation. We’re behavioral fintech, not transactional fintech.

Core Features and Services

What features do you currently offer?

• Goal-based savings accounts

• Automatic rules for micro-savings

• Cashback rewards with partner brands

• Shared savings goals with friends/family

• In-app financial tips and coaching

Who are your target users?
Mainstream EU consumers aged 25–45, especially families, who want to save better without overhauling their financial lives.

Do you offer debit cards or payments?
Not yet. We’re considering adding some light banking features, but only if they help users save more—not distract from the mission.

Business Model and Monetization

What are your monetization streams?

• Commission from partner cashback purchases

• Subscription for premium features

• Future plans include B2B2C distribution with insurers and employers

Competitive Landscape

Who do you see as your main competitors?

• Traditional banks offering savings accounts

• Fintechs like Revolut Vaults or N26 Spaces

• Newcomers like Plum, Emma, or Dreams.app

How do you differentiate from savings features in neobanks?
They treat savings as a secondary feature. For us, it’s the core mission. We combine UX design with psychology, focusing on triggers and motivation.

Market Insights

How do you view the European market for financial wellness apps?
Growing fast. Consumers are increasingly aware of financial health beyond just investing. We expect more players but also more consolidation.

Can you share some recent growth milestones?
We’ve hit over 200,000 users across DACH, and our cashback ecosystem is growing with brands like Booking.com, Lidl, and Thalia.

What KPIs do you monitor most?

• Net savings per user

• Engagement (active savers vs passive)

• Conversion from free to premium

• Partner revenue per user

Strategic Roadmap

What’s on your 2025 roadmap?

• Launch in new EU markets (Netherlands, Italy)

• Expand B2B partnerships

• Add more intelligent savings nudges using AI

Are you raising funds?
We recently closed a round with impact investors and are open to strategic partnerships for expansion.

Infrastructure and Open Banking

Which partners do you use for banking infrastructure?
We collaborate with Raisin Bank in Germany for account provisioning and custodial services.

What is your stance on Open Banking and PSD2?
We embrace Open Banking as a tool to import spending data and suggest better savings rules. PSD2 enables more personalized savings experiences.

User Engagement and Behavior

How do you keep users engaged long-term?
Through behavioral nudges, milestones, and shared goals—saving becomes social and rewarding.

Any surprises in user behavior you discovered?
People love saving as a group, especially couples or parents and children. It creates accountability and motivation.

Future Outlook

How do you see the category evolving?
We believe financial wellness will become as important as physical wellness, with fintechs integrating savings, budgeting, insurance, and mindfulness.

What would you tell other fintech founders?
Solve a real pain point, stay focused, and don’t chase features for vanity—utility and simplicity win.

Monkee’s Core Services

• Smart savings app with automated savings rules

• Cashback rewards tied to financial goals

• Partnered savings accounts via Raisin Bank

• Premium coaching and nudging features

• Goal-sharing for families and friends

Key Competitors

• Revolut (Vaults)

• N26 (Spaces)

• Plum, Emma, Dreams.app

• Traditional banks offering basic savings

Strategic Positioning in the Fintech Market

Monkee is part of a rising wave of purpose-driven fintechs. Rather than providing another banking interface, it focuses on improving user behavior and promoting sustainable financial wellness.

It sits at the intersection of:

• Financial wellness

• Behavioral science

• Embedded rewards and cashback

• Savings-as-a-Service for B2B and B2B2C

Related Searches

• Smart savings fintech Europe

• Monkee app Austria

• Financial wellness apps EU

• Fintech cashback saving

• Neobank savings vs Monkee

• PSD2 and Open Banking use cases

• Best saving apps for families

• Gamified savings apps Europe

FAQ: Frequently Asked Questions about Monkee

Is Monkee a bank?
No, Monkee is not a licensed bank. It partners with Raisin Bank for custodial services.

Can I withdraw my savings anytime?
Yes, your funds are accessible 24/7 via the app.

Does Monkee charge fees?
The core version is free. A premium version with coaching and insights is available.

Is Monkee available across Europe?
Currently active in Germany and Austria, with plans to expand.

Citations

Monkee Official Website – monkee.rocks

• Raisin Bank – raisin.com

• Plum App – withplum.com

• PSD2 Directive – europa.eu