Chief Executive Officer
CurrentCalmony is part of agentOS Proptech Group which includes the CRM solution agentOS and the rent automations service agentPay.In early 2019 agents were approaching agentOS to ask what we were going to do about accounting for 100s of separate landlord accounts within the system, which was the first time we realised that client accounts were being withdrawn due to the 2018 5th AML Directive.Agents were being forced to give up precious income to pay a £8 to £22/m fee per landlord account, or having to outsource to a client account service provider in order to just get a client account. This was endangering their livelihoods with such increased costs and the risk of losing a client account.Calmony is the blending of online banking, online payment services and same day BACS payments all in one online client account.Calmony’s future is to explore the financial regulation and services needed to help agents achieve interest on money held in Calmony deposit and trading accounts.Followed by introducing landlord accounts that will automatically submit their quarterly tax returns with ‘making tax digital’ which is required from April 2024.We started this journey with a technical question on how we would account for 100s of separate landlord client accounts. The outcome is now protecting agents’ livelihoods by becoming a Neobank that ensures they can get and afford to keep their client account.
