Fiinu Plc: why this newly London-listed FinTech could be the next Monzo-like phenomenon
UK Investor Magazine
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The Process of Getting a Retail Bank License
Monzo's bank license is it is the only eighth retail banking license brought by the potential regulation authority in 120 years maybe wrong but somewhere around that line. The likes of Monzo Starling do not come to the market if you like very often and so that's probably the way I would try to describe the process. It was incredibly difficult for us also because we went through a major reform in the overdrive space which did have some implications to our pricing models. We were very lucky to have kindred capital joining us in around 2019 as a seed investor but all I would say is if anybody else is thinking about setting up a bank think twice it is not very easy.
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