Monzo

Monzo has received regulatory approval to provide targeted support to customers, marking a new development in the neobank's service offerings.

Source: FT Adviser

Digital banking giant Monzo has reached £1bn in gross profit for the first time, according to annual results published on Tuesday. This marks the London-based fintech’s third consecutive year of profitability, with a 20% rise in its adjusted profit before tax to £172.6m. The bank also saw a 39% boost in revenue, with four of its income streams bringing in over £300m: current account balances, borrowing, payments and wealth. A record 3m customers joined the bank this year, with the bank's regular users hitting 10.4m.

Source: Sifted

Monzo has completed the acquisition of Habito, a UK digital mortgage broker, marking a significant expansion into the mortgage market for the neobank.

Source: Mortgage Strategy