All articles tagged with #monzo
Monzo says its mobile banking app outage has been resolved after thousands of users reported access problems; the bank activated its independent Stand‑in backup bank during the issue, but card payments, cash withdrawals and transfers remained available, and the app is now functioning normally again.
The CEO of Monzo was ousted following disagreements within the board regarding the company's growth strategy and plans for an IPO, highlighting internal conflicts over the bank's future direction.
Monzo, a British digital bank, reported its first full year of profitability with pre-tax profits of £15.4 million for the 2023-2024 fiscal year, a significant turnaround from a £116.3 million loss the previous year. The bank's revenue more than doubled to £880 million, marking substantial growth and a $5.2 billion valuation.
OpenAI responds to Elon Musk's lawsuit, revealing that Musk wanted to run the company's for-profit arm; Monzo secures a significant funding round, signaling a recovery in the fintech sector; Ema launches from stealth with $25 million to bring AI to the enterprise, amid a crowded market; Accenture acquires Udacity, providing liquidity to the venture-backed startup; upcoming regulatory decisions could drive demand for carbon-tracking startups.