I recently got a British citizenship and wondering if I need to notify Monzo about that somehow?
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I’d think unless Monzo specifically ask for anything in app, then no you’ll be fine.
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Congratulations, it’s a huge achievement. Update the electoral register, I don’t think you need to tell anyone else you already have a relationship with, unless specifically asked.
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Congratulations!
Now, if you want to change the citizenship any bank has in their records for you, you can contact the bank and ask them to do that (e.g. Monzo will be via their app chat).
All banks I did that with back in the day were happy to update my record.
As to whether you need to do that… generally no, unless there are other factors at play. An example that comes to mind, if you became British and revoked your US citizenship, you definitely want to tell banks so they stop reporting to FATCA on you.
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This is the big one. It will help you in all kinds of ways. The longer you’re on it, the better, so get on with it 
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Congrats! But afik Monzo only needs your residency not your citizenship status, so I think you are fine.
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Thanks for the prompt reply, folks!
The only reason to update the electoral register is to register to vote, right? And the next election is going to be in a few years only.
An election can be called any time, so the sooner you do it, the better. Also helps with your time on the register, as I believe it counts as a new registration so any time at that address on the register won’t necessarily count after you re-register.
It can help with identity verification, as well as supposedly having a (presumably small) benefit on your credit ranking.
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If you have British citizenship then you may have more opportunities for voting.
i.e. you may be able to vote in elections which non British citizens can’t vote in, depending on the type of election and which country in the UK you live.
https://commonslibrary.parliament.uk/research-briefings/cbp-8985/