Monzo first digital bank to have a million UK businesses as clients

• Monzo has become the first digital bank to reach one million British business clients, a milestone achieved since launching its service in 2020 and doubling its numbers in the past two years.
• This achievement positions Monzo as a significant challenger to the traditional dominance of major high street banks such as Barclays, HSBC, NatWest, and Lloyds in the UK business banking market.
• The growth of digital banking aligns with increasing online demands on British businesses, exemplified by HMRC's push towards Making Tax Digital.
• Currently, one in six UK businesses bank with Monzo, including one in five newly formed businesses, and it attracted more Current Account Switch Service moves than any other business bank in 2025.
• Customer data reveals that 61 per cent of SMEs seek business banking tools beyond basic accounts, and 68 per cent now rely more on digital banking than they did before 2020.

IN FULL

Monzo passes landmark business customer numbers in first for a digital bank