Tag: Monument

The UK’s first neo bank aimed at the mass affluent market has finally launched after the regulators lift restrictions over its on deposit taking.

Monument, a challenger bank aimed at the wealthy, has reportedly raised a £28m as it prepares for its launch later this year.

Hot on the heels of being granted a restricted banking licence in October, the UK challenger bank Monument has now announced the key providers to help it build its digital bank for high-earners.

The challenger bank for the wealthy Monument has received an authorisation with restriction banking licence from the Prudential Regulation Authority and the Financial Conduct Authority 18 months after its launch.

Challenger bank Monument has revealed that it is in the later stages of an application process to get a UK banking licence in order to launch a service for affluent clients.