Starling, Revolut, and Monzo’s annual results compared
The UK’s top three digital banking apps have all now released their financial results for 2019.
By most accounts, it was a surly reality check for the sector, which has attracted millions of consumer users but seem to be struggling to control costs. Digital banks also still seem to be grappling with how to seriously monetise current accounts — often dubbed the “low hanging fruit” of banking — and it remains to be seen whether their business models can confidently ride out the Coronavirus.
Still, beyond these shared trends, it’s worth comparing how the three fintechs — Monzo, Revolut, and Starling — performed in relation to one another.
Sifted also asked analysts and venture capitalists to share their top takeaways from the annual results.