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Why Monzo wants to become the first network bank

Tom Blomfield co-founded Monzo back in 2015. In April 2017, it received its full UK banking license and in May had surpassed 200,000 users.

New challenger banks are driving competition amongst the traditional banking system. UK based Monzo, the ‘bank of the future’ has gained significant traction as user numbers have now surpassed 200,000. Lynsey Barber, CityAM’s Tech Editor and Hot Topics Contributing Editor, sits down with Monzo’s co-founder and CEO, Tom Blomfield, to discuss the growth the company is experiencing and how the product itself is building a community of customers that will ensure transactions amongst friends are transparent, quick and reliable.