Bank start-up streamlines social money transfer with Microsoft Azure

“Microsoft BizSpark Plus is great for all start-ups and we’re extremely fortunate to be part of the program. It delivers huge benefits for us as a company and Microsoft has been really supportive helping us grow.” Mark Seddon, CEO, Cendit

Cendit will revolutionise consumer banking. The company envisages opening bank accounts in 30 seconds on your phone, sending money and paying bills with a single swipe and managing your money with the help of AI assistants.

Launching with a focus on payment transfers, Cendit offers a dramatically cheaper way to send money overseas. Easier too, thanks to integration with Twitter and, coming soon, Skype and WhatsApp. Cendit is available in 71 countries and 26 different currencies. The firm’s ability to do ‘know-your-client’ checks online for more than 2 billion people worldwide makes the process much more efficient for everybody.

‘In the UK, a large part of the population is underserved by conventional financial services firms,’ says Mark Seddon, CEO of Cendit. For example, if someone is not born in the UK, they can sometimes struggle to pass know-your-customer checks. This makes it hard to open UK bank accounts and forces people to use expensive money transfer services to send funds overseas.

The company plans to launch its multi-layered current account and a Mastercard debit card early in 2017 as the next step in its expansion.

Cendit credit card

Built on Microsoft foundations

Cendit has been built with flexibility and scalability in mind. It runs on infrastructure provided by Microsoft Azure and uses Microsoft’s Xamarin technology to create its mobile app for iOS, Android and Windows Phone. It also uses Microsoft SQL Server as its core database and Microsoft Dynamics CRM to deliver high levels of customer service.

Supported by Microsoft BizSpark Plus

The relationship with Microsoft goes beyond technology. Membership of Microsoft’s BizSpark Plus has helped the company move faster:

  • Free Azure credits which cover the firm’s consumption of Azure storage and compute, extending the firm’s cash flow runway and making it easier to build and test the firm’s backend software without worrying about budget limitations.
  • Free licences for Microsoft’s mobile app development tool Xamarin, which simplifies and streamlines cross-platform application development.
  • Free licences for Office 365 productivity and Dynamics CRM software helped the company reduce costs and help its six staff work together more effectively.
  • Access to expert workshops and developer support for help migrating databases to Azure and solving other technical challenges.
  • Microsoft has also helped the firm raise its profile and gain credibility with financial services partners and potential customers.
  • ‘Microsoft has been incredibly friendly and supportive,’ says Mark Seddon. ‘They have helped us move faster and achieve more and, amazingly, they don’t ask for anything in return. Any start-up should be beating a path to their door.’

Take the next step with Microsoft

Join BizSpark Plus

At Microsoft, we work with start-ups of all shapes and sizes. The joint business opportunity depends on how we can support individual start-ups. To find out if you are eligible, contact the team on

Join the conversation


Your email address will not be published. Required fields are marked *

  1. Cool.