Starling-Monzo Discussions Interest bar

As you can see, overtime there have been lot’s of discussions revolving around these two Challengers. Mainly because of the feud between Anne Boden and Tom Blomfield, but nonetheless these two Challengers have been involved in heated debates for a while.

Almost every Challenger Bank gets compared to another. The comparisons, for the most part, are about their transaction fees, whether they offer costly international card transactions or not, or their interest rates on their savings accounts.

And for the most part, customers are used to making decisions on who their primary bank is going to be based on such criteria. Or the trust that they have for each financial institution.

Listen to this though, younger generations are more prone to trying out new banking apps and challenger banks in general, in order to find the one that will make banking accessible, understandable and most importantly easy to use! Challenger banking apps often look like the social media platforms, which younger generations are so used to interacting with on a daily basis.

So based on this, I decided to run another comparison, like the one I had made for Revolut vs N26, but focusing on the Features and UX one is able to find in Starling and Monzo.

Two factors of focus for this comparison:

  • Offered Functionality
  • Offered UX

We are going to start from a higher level of analysis, and move further to unveil the different layers of their digital banking. Kind of how FinTech Insights likes to analyze digital banking offering - starting from a panoramic view and reaching the lowest level of detailed analysis possible.

Throughout this blog, I will be also adding some small snippets actually showing you me using FinTech Insights, and how I get all this data very easily!


I will start by benchmarking these both Challenger Banks in the Market. In this Market I will be also adding the following players : Lloyds Bank, Santander, Revolut, Monese and bunq, since they are Banks either based in the UK, or active in the UK.

UK Banks positioning in the market

As you can see the Banks are positioned in the Marked based on two parameters: The number of Functionalities they offer (across all channels), and the UX they offer (again, across all channels).

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