UK digital bank for mass affluent launches  

October 12, 2020 | FinTech

Written by FinTech Alliance

UK digital bank for mass affluent launches  

Digital-first bank Monument has received its UK banking licence.  

In Brief:  

  • The bank will target mass affluent clients – those with a net worth of £250,000 and £5mn.  

  • These will include entrepreneurs, investors and professionals such as accountants.  

  • It has so far raised £20mn at its Series A funding. 

What does this mean?  

The business has said that its target market is currently underserved by challenger banks on offer in the UK – and now, exacerbated by Covid-19, everyone expects a digital-first experience.  

Read more here.  

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