Monzo Bank: A Digital, Mobile-only Bank in the UK

Monzo Bank: A Digital, Mobile-only Bank in the UK
Case Code: BSTR574
Case Length: 14 Pages
Period: 2015-2019
Pub Date: 2019
Teaching Note: Available
Price: Rs.400
Organization: Monzo Bank Limited
Industry: Banking
Countries: United Kingdom
Themes: Digital Banking, Digital-only Bank Unicorn, App-based Banking, European Banking Industry, FinTech Start-up, Start-up Unicorn, Vertical-Industry Structure, Mobile-only Bank, Mobile Banking, Mobile Banking
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Abstract Case Intro 1 Case Intro 2 Excerpts


The case "Monzo Bank: A Digital, Mobile-only Bank in the UK" talks about the factors that led to UK-based mobile banking player Monzo Bank Limited (Monzo) emerging as the UK’s startup Unicorn. The case starts out with a brief history of Monzo. It then describes the innovative products and services launched by the bank, which helped it to connect with millennials better than traditional banks. It also highlights the present and future challenges for the bank. The case ends with Monzo’s plans for the future which include partnering with organizations and expanding geographically.


The case is structured to achieve the following teaching objectives:

  • Understand how the traditional vertical industry structure is getting disrupted by digital companies
  • Analyze the business strategy used by a digital bank to become a Unicorn
  • Identify the strategies used by a digital bank to create a differentiated position with respect to its competitors
  • Analyze the role played by technology in enabling a bank to achieve growth
  • Examine the challenges faced by a startup as it tries to sustain its Unicorn status



Digital Banking, Mobile Banking, FinTech, Unicorn, Mondo, Monzo, Mobile App, Prepaid Card, Beta Card, Current Account, ATM, Overdrafts, Lending, PayPoint, Pots, Coin Jar, Tandem Bank, Number26, Atom Bank, Starling Bank, United Kingdom

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