Monzo

Online bank Monzo has topped the charts for customer service amongst UK banks in the latest Ipsos MORI Personal Banking Service Quality survey. Customers with personal current accounts were asked how likely they would be to recommend their provider, their provider’s online and mobile bank

UK digital challenger bank Monzo has launched its business banking service. The bank’s new service provides free and premium accounts in order to achieve its goal of reaching profitability in two to three years.

Paul Rippon, the co-founder and deputy CEO of Monzo, is stepping down from his role to farm alpacas with his wife in Northumberland.

First Direct, Starling Bank and Monzo have come out on top in the latest current account satisfaction survey carried out by Which? - while Scottish lenders Clydesdale, RBS and Bank of Scotland were in the bottom five.

Stuart Gillies, an associate at CMS, wrote for The Scotsman, on how the burgeoning Fintech industry is set to plunge the corporate world into a tech-driven revolution. Fintech, the use of technology in the delivery of financial services, is thriving. Companies and products such as Monzo and App

Challenger bank Monzo now has three million customers, with sign-ups continuing to rise for the app-only bank. Monzo reached the milestone only four months after acquiring two million users and the company said it is currently taking on 55,000 new customers every week.

Digital banks operating within Britain are on track to treble their customers in the next year.

Edinburgh-based personal finance app Money Dashboard has raised over £4.6 million to allow the fintech to triple its staff numbers.