UK challenger bank Monzo has applied for a US banking licence so it can offer a full suite of services in the world’s biggest financial market.
Apr23

UK challenger bank Monzo has applied for a US banking licence so it can offer a full suite of services in the world’s biggest financial market.

The fintech firm, known for its pink “hot coral” cards and sleek app, applied to the US authorities for a licence on Monday in the most important step in its stateside expansion. Monzo’s US chief executive TS Anil said the firm was “applying to be one of the first new US banks in a decade” in a “significant milestone”. However, it could take Monzo between 18 months and two years to have their application approved. The process, run by...

Read More
X