“If you are the number one neobank by users then everyone is going to want to get in,” said Lex Sokolin, global director of fintech strategy at research firm Autonomous. “So to me that [Monzo valuation] number isn’t crazy as much as at the optimistic end of the spectrum.” Valuations of fintech companies have soared in recent months as investors have bet that digital disruption will upend the financial sector, as it already has in other sectors such as retail and media.

https://www.ft.com/content/ef54082c-a16a-11e8-85da-eeb7a9ce36e4?utm_source=Autonomous+NEXT&utm_campaign=f117cb2ad4-EMAIL_CAMPAIGN_2016_11_04_COPY_01&utm_medium=email&utm_term=0_c8cf357092-f117cb2ad4-100486905