Monzo and Starling Bank See Growth in Account Switches

Monzo and Starling Bank saw more than 10,000 customers open accounts through the account switching service in the first few months of 2019; HSBC, Nationwide and NatWest saw the biggest growth but the success of Monzo and Starling Bank show the appetite for digital banks is there; the switching data also shows that customers under age 35 are three times more likely to switch than those over 55; the last 12 months saw 921, 065 switches, with more than 265,000 is the first few months of 2019. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.