Monzo Lays Out Big Plans for 2020 with Staff Push and U.S. Launch

Monzo CEO Tom Blomfield sat down with Reuters to talk about the progress the digital bank has made and the plans that are ahead for 2020 and beyond; the company is looking to hire 500 more staff to bring their total headcount to more than 2,000; Blomfield also had some comments about the recent news with N26 leaving the UK market; “In the US we are laying the groundwork, but not looking for explosive growth,” Blomfield told Reuters. “The lesson there is if you take a product and just move it across unchanged it doesn’t do well-N26 didn’t connect.”; Monzo expects to hit more than 5.5 million customers by end of 2020 and relaunch a paid for account in Q1 after learning lessons from the previous paid product; while the bank is not profitable to date, they expect to reach profitability within the next few years as they eye a potential IPO. Altfi

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.