New neobank Monument readies for launch

A new digital challenger bank for the UK’s 4.8 million “mass affluent” customers is gearing up to launch following the lifting of regulatory restrictions.

In October 2020 Monument was granted ‘authorisation with restriction’ by the Financial Conduct Authority and Prudential Regulation Authority to begin acting as a fully-fledged bank, with restrictions usually being removed following the completion of a larger capital raise.

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