Monzo now has more than 9 million personal account customers, with 2 million joining in 2023 alone.
In brief:
- The digital bank has been at the forefront of the fintech revolution since launching in 2015 and challenges traditional banking models while offering a wide range of convenient features to its customers.
- The vast majority of this growth has been driven by word of mouth referrals and off the back of a string of product launches including Investments, Instant Access Savings and Cashback.
- Monzo are the UK’s largest digital bank and the 7th biggest retail bank in the UK by customer numbers with 1 in 7 adults in the UK now choose to bank with a Monzo – and 1 in 16 businesses.
What does mean?
TS Anil, CEO at Monzo, said: “To have more than 9m customers open a Monzo account, largely via word of mouth, is testament to the magic of Monzo and the customer-centricity that is part of our DNA. We hear from customers every day about how Monzo has transformed their financial lives – which is even more exciting when you consider that there is so much more to come on our journey to build the one app that answers all of their money needs.”
