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Monzo executives believe the new application would be more likely to win acceptance from the Office of the Comptroller of the Currency (OCC), in the wake of the deregulatory push overseen by President Donald Trump.
“The U.S. offers fertile ground for expansion: Gen Z, the first generation of true digital natives, is beginning to accumulate income, savings and purchasing power — and their expectations for banking services align neatly with the digital-first DNA of those providers,” that report added.
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