17 September 2019

One in 20 UK adults now has Monzo

Written By FinTech Alliance in FinTech

One in 20 UK adults now has Monzo

UK Challenger bank Monzo has announced that one in 20 UK adults use its platform.

In Brief:

  • The bank now has a total of three million customers.

  • Monzo reached two million users four months ago.

  • It’s reportedly signing up 55,000 new customers every week.

What does this mean?

Is Monzo now the biggest challenger bank in the UK? Not quite – Revolut reached 4.5mn customers in March. However, Monzo does have more users than Starling, which had 775,000 accounts according to its latest figures. It’s likely that each bank will continue to grow at a rapid pace, and the winner might be the firm that develops the ‘best’ business offering.

Read more here.

 

Up Next ...
21 November 2024

Nubank Explores Legal Domicile Shift to the UK Amid Regulatory Changes

The decision, reportedly under discussion with the UK government, aligns with the UK’s efforts to attract global tech firms

21 November 2024

Machine Learning: Revolutionizing Fraud Detection in Banking

These technologies enable financial institutions to analyze vast amounts of transaction data in real-time, identify suspicious activities, and minimize false positives...

21 November 2024

MeaWallet Partners with Integrated Finance to Enhance Digital Wallet and Secure Card Data Access for Fintechs

The collaboration is set to strengthen digital wallet payments and secure card data access capabilities for fintechs

20 November 2024

Atome Financial Secures $200M Credit Facility to Drive Growth

Atome plans to use the funds to strengthen its technological capabilities and grow its market presence, particularly among underserved, young consumers...

More in FinTech

Nubank Explores Legal Domicile Shift to the UK Amid Regulatory Changes

21 November 2024

The decision, reportedly under discussion with the UK government, aligns with the UK’s efforts to attract global tech firms

Machine Learning: Revolutionizing Fraud Detection in Banking

21 November 2024

These technologies enable financial institutions to analyze vast amounts of transaction data in real-time, identify suspicious activities, and minimize false positives...

MeaWallet Partners with Integrated Finance to Enhance Digital Wallet and Secure Card Data Access for Fintechs

21 November 2024

The collaboration is set to strengthen digital wallet payments and secure card data access capabilities for fintechs

Atome Financial Secures $200M Credit Facility to Drive Growth

20 November 2024

Atome plans to use the funds to strengthen its technological capabilities and grow its market presence, particularly among underserved, young consumers...

White Papers FinTech

Open Finance in Review: Looking back at 2023

28 November 2023

In this insightful report, OzoneAPI delve into the pivotal developments that have shaped the landsca...

White Papers FinTech

Fintech 2030: The Industry View

02 October 2023

Key findings from the report:Embedded finance is expected to dominate the industry in 10 yearsThere...

White Papers FinTech

Pulse of Fintech H2 2022 report

27 July 2023

UK FinTech investment falls 56% to £14.42bn in 2022After an incredibly strong 2021, with total FinTe...

White Papers FinTech

The Rise and Impact of Fintech in Latin America

29 June 2023

Fintech also provides tools to help manage these risks. Financial authorities and their supervisees...

FinTech Connect 2024 - The Global FinTech Ecosystem . Connected.

FinTech Connect 2024 - The Global FinTech Ecosystem . Connected.

04 December 2024 - 05 December 2024

12:00 AM - 12:00 AM

ExCel London, Western Gateway, Royal Victoria Dock, London, London, E16 1XL

Free
Finnovate Europe

Finnovate Europe

25 February 2025

12:00 AM - 12:00 AM

InterContinental London - The O2, 1 Waterview Drive, London, Greenwich, SE10 0TW

£1,699.00