The headline sell is that a Monese account can be opened in as little as 2 minutes, with technology driving the necessary background checks and KYC procedures. This also makes it attractive to recent migrants or other customers that don’t have a full financial history and therefore may find it more cumbersome to apply for an account with a high street bank. In fact, as explained in a call with Monese founder Norris Koppel late yesterday afternoon, Monese wants to be the default current account option for customers with a thin credit file, from which it can offer a range of best-in-class financial services in partnership with other financial institutions, including incumbent banks and other fintechs.

https://techcrunch.com/2018/09/05/monese-b/