In this episode, we tell the full story of Monzo's near-death experience — and the extraordinary turnaround that followed. In July 2020, Monzo's own accounts warned there was "significant doubt" it could survive twelve months. Five years and roughly £539m of losses later, it's Britain's seventh-largest bank with £1.7bn of revenue and three consecutive years of profit. So what actually happened?We cover:What a going-concern warning really means — and why the market panicked anywayWhy a bank paid only when you spend had no shock absorber when Covid hitThe rescue: furlough, Las Vegas, a new CEO, and raising money at the bottomThe turnaround: deposits, lending, subscriptions — and a lot of interest rate helpMonzo vs Revolut: fewer customers, each worth far more?Europe next: Ireland's launched, Spain's announced — and Jan's German verdictThe risks: rising costs, 5,275 staff, and what happens when rates fallJoin the new Banking Without Borders Discord community https://link.bankingwithoutborders.co.uk/discordSubscribe on YouTubehttps://link.technicallymoney.com/oy8eCheck out our website DepositScout.com for the latest savings rates. Connect with us (via LinkedIn)Jan: https://www.linkedin.com/in/jan-watermann/Jonny: http://www.linkedin.com/in/jonny-peaseGot a question or topic you want us to cover? Drop us a message at [email protected]

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“What did the council decide on item 42?” — answered with the speaker and the moment.