Monzo restarts US expansion plans – Sifted
UK digital bank Monzo is doubling down on stateside expansion but has no immediate plans for pursuing a banking licence in the world’s biggest economy, according to its chief operations officer.
“In terms of the US, the time is now for us – we’re investing, and it’s the next big frontier,” Sujata Bhatia tells Sifted in an interview, adding that the neobank is actively hiring for a new US CEO to lead the charge.
It’s not the first time that Monzo has flirted with US expansion: Carol Nelson was hired as US CEO in February 2021. But she stepped down last year, shortly after Monzo withdrew its banking licence application in the US when it became clear regulators were unlikely to give their approval.