Monzo has applied for a banking licence in the US, a key step in the journey to being able to offer its full range of banking services in the country.
The digital banking start-up, which has 4 million customers in the UK, applied to the US Office of the Comptroller of the Currency for the licence on April 20.
Please also watch in video: A revolution in banking is coming | Tom Blomfield | TEDxLSE
TEDx Talks , May 16, 2017
In an age of ever changing technology, one particular important aspect of our lives has seemingly been left behind: banking. However, it seems we are now on the brink of evolving our banking system.
Tom is CEO of Monzo – a new smartphone-based bank. In 2013, he was nominated one of the top 5 Entrepreneurs under 30 by the European Commission. In 2016, he became the youngest ever CEO of a UK bank. He previously founded GoCardless, a fintech startup that has gone on to raise $25m. He blogs at tomblomfield.com and tweets as @t_blom.
This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at https://www.ted.com/tedx
By James Cook
The Telegraph , 22 April 2020
Monzo leapfrogs Revolut by applying for US banking licence
It could take up to two years for Monzo’s application for the US banking licence to be approved
Monzo has applied for a banking licence in the US, a key step in the journey to being able to offer its full range of banking services in the country.
The digital banking start-up, which has 4 million customers in the UK, applied to the US Office of the Comptroller of the Currency for the licence on April 20.
Monzo is planning to expand the number of its employees in the US and will open a new office in San Francisco. However, its US banking licence application could take between 18 months and two years to be approved.
If the application is successful, Monzo would be able to offer fully insured deposit accounts in the US and could lend money to American customers.
PLEASE ALSO WATCH
The Future of Monzo Keynote with Tom Blomfield
Monzo , Nov 11, 2019
The Future Of Monzo’s Opening talk with CEO and Co-Founder Tom Blomfield
The Future Of Monzo – 3.0 and Beyond
Monzo , Nov 11, 2019
Earlier this year we came to the realisation that we’d outgrown our current app, and decided it was time to shake things up. Monzo 3.0 launched last month, paving the way for a whole new set of features and functionality to compliment the world class experience we’re trying to build. 3.0 was a unique cross team project involving efforts from marketing, brand, design and engineering. Join us for a retrospective on the apps recent makeover and hear from those directly involved on how these changes align with our vision for the future.
Future Of Monzo – Q+A with Tom Blomfield and Eileen Burbidge
Monzo , Nov 11, 2019
