FF News Logo
Sunday, October 12, 2025
ITC Vegas

Breaking News

EXCLUSIVE: “Passion Project” – Brice van de Walle, Mastercard in ‘The Fintech Magazine’ FreedomPay Drives Global Merchant Innovation FIS Brings AI-Powered Advancements to Seamless, Personalized Digital Banking Experiences Citi Ventures Invests in BVNK to Power the Next Generation of Financial Infrastructure Nearly Two-Thirds of Global Retailers Say Payment Method Flexibility Drives Revenue Growth, ACI Worldwide Survey Finds Ipswich Town Selects IFX Payments as an Elite Partner Baghdadi Capital Group Selects nCino to Power Global Growth and Expansion Strategy Zilch Unveils Intelligent Commerce & Zilch Pay to Power Next Phase of Rapid Growth Splitit Launches Partner Program to Power Installments for Agentic Commerce Keyrails Chooses Flagright to Power Real‑Time Transaction Monitoring and AML Screening Socotra Launches Agentic AI for Insurance Product Configuration iBanFirst Launches iBanPay, Its New AI Assistant to the UK NatWest Strengthens Support for UK Innovation Economy With Key Strategic Hires Moto and NCR Atleos Extend Collaboration, Expanding Self-Service Cash Access U.S. Bank Selected to Provide Custody Services for Reserves Backing Payment Stablecoins From Anchorage Digital Bank

October 11 2020

Monument, digital bank for the rich, gets UK banking license

Share this post:

Share on LinkedIn Share on WhatsApp

A new digital-only bank Monument that has received an “authorization with restriction” now aims for the UK’s richest and is set to launch within months.

Read also: Starling introduces Online Banking for personal customers

The goal is to provide a better service to the “mass affluent”, defined as people with assets of between £250,000 and £5 million, in addition to the value of their homes.

The Monument bank, which is chaired by Niall Booker, a former chief executive of the Co-operative Bank, has also exceeded its Series A funding target, having raised £20m to date.

[mc4wp_form id=”2736″]

“The speed with which we have been executing our plans and progressing through the regulatory process is a testament to the exceptional quality of our team and the vote of confidence by investors in our strategy, in a world that is otherwise full of challenges,” said CEO Mintoo Bhandari.

“We now eagerly look ahead to completing the build of the Bank and launching for clients in 2021,” he added.

Monument estimates that there are around 3.5 million “mass affluent” people in Britain with wealth worth a combined £3.5trn and a combined £200bn in cash between them.

Potential clients include bankers, lawyers, property developers, and doctors.

  1. EXCLUSIVE: “Passion Project” – Brice van de Walle, Mastercard in ‘The Fintech Magazine’

    The Fintech Magazine

     Read more
  2. FreedomPay Drives Global Merchant Innovation

    Event Videos

     Read more
  3. FIS Brings AI-Powered Advancements to Seamless, Personalized Digital Banking Experiences

    Fintech

     Read more
  4. Citi Ventures Invests in BVNK to Power the Next Generation of Financial Infrastructure

    Funding

     Read more
  5. Nearly Two-Thirds of Global Retailers Say Payment Method Flexibility Drives Revenue Growth, ACI Worldwide Survey Finds

    News

     Read more
ITC Vegas
More On