Monument Bank Reaches £3bn in Client Deposits, With £1bn Achieved Just Over Ten Weeks Ago

Monument (or the “Bank”) today announced that it has reached £3bn in client deposits, £1bn more than just over ten weeks ago.

This marks a successful start to Q3 for the bank, which has doubled its client base in just under six months. Positioned well with its ground-breaking technology, exceptional team, and well-capitalised backers, Monument is set to continue its journey of innovation and growth.

Since inception, Monument has obsessed with delivering exceptional client service to the mass affluent community, with technology that makes the complex effortless.

The suite of products provided are handpicked for its client base, to ensure that people make the most of their wealth, prosper and build a worthy legacy. Its range of products includes a competitive Easy Access Savings Account, Fixed Term Deposits, and a suite of Notice Accounts. The rewarding rates and variety of products help people choose the right plan for their short- and medium-term goals. The app offers in-app live chat, audio, and video calls with 90% of calls answered in less than 20 seconds. The app is also the first in the UK market to offer ‘co-browsing,’ allowing clients to share their screen with the UK-based client servicing team.

Ian Rand, Monument’s Chief Executive Officer, said: Having only hit our previous £2bn milestone in May, I am delighted with the continued acceleration of our growth. This is testament to our clients, who not only trust us with their savings, but are also our best ambassadors at every opportunity. We deeply appreciate their support – and we thank them for choosing to grow their wealth with us.

Looking ahead, we’re continuing our mission to create products that help our clients to better manage their wealth, with some exciting launches coming up in the latter half of this year.

Before this milestone, Monument achieved £1bn in interest-bearing assets at the end of 2023 then swiftly raised another £1bn in just four months. The latest £1bn was achieved in just over 10 weeks, taking the bank’s client deposits to over £3bn.

The Monument app goes beyond banking, and provides members with unforgettable experiences, with Monument Lifestyle. Launched in 2023, it offers more than 35 services and experiences designed to help professionals, entrepreneurs and their families spend more quality time on what they enjoy in life.