British mobile-only bank Monzo makes way across the pond to the United States today. The value is valued at more than $ 1 billion, and Monzo has grown its customer base in the UK and recently hit 2.2 million customers. Unlike traditional banks, Monzo operates exclusively on iOS and Android via an app, and has no bricks and banks. It calls itself "the future bank", which will take on the larger banks.
Monzo has managed to grow rapidly in the UK thanks to the focus on features that other major UK banks just do not offer. There are instant alerts for expenses, with payments removed immediately from your bank balance, so it's always accurate. Monzo also includes easy ways to send money to friends who also use the service, share bills at restaurants, and even save money with money for holidays, gifts and more.
Monzo's big appeal has always been customer service, a brightly colored coral card, and its focus on society through personal events. Hundreds attend events in the UK where they share their thoughts with the Monzo team. The company is now planning to use similar events in Los Angeles, New York City and San Francisco in the coming weeks to launch its card in the United States and receive direct feedback.