Monzo Attracts Two Million Users to Digital Banking Platform

UK challenger bank Monzo announced on Monday it has attracted two million users to its digital banking platform. Founded in 2015, Monzo reported that it is building a “new kind of bank” that lives within smartphones and is built for the way users live today.

According to Monzo, 3 in every 100 people in the UK have signed up to use its service. More than 35,000 new users sign up for the service every week and they have used the “hot coral cards” a total of 464,948,166 times, as well as spent 10,702,952,038 so far. 

Monzo also noted that customers have spent 31,434 through its platform every minute. The company added that users have taken its service around the world and included various countries that its service has been used, including U.S., Italy, France, and Canada. Monzo went on to add:

“Thanks again to everyone who’s joined Monzo and supported us so far. We can’t wait for what’s next.”

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