Monument has reached £2bn in customer deposits and interest-bearing assets. Moreover, it reports that it attracted £1bn in the four-month period from January to April 2024.
According to Monument, its dedication to the mass-affluent segment is exemplified through exceptional client service and products that help individuals grow and enjoy their wealth.
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Monument customer numbers top 30,000
To date, the bank has grown its client base to over 30,000 clients. It is adding 200-300 new clients every day, with an average balance per client of over £60,000.
“Our ability to attract and retain clients with an average balance of over £60,000 each speaks volumes about the trust placed in Monument,”said Ian Rand, CEO, Monument Bank.
“We are proud to cater to the needs of the mass-affluent segment while continuously evolving our offerings to meet their expanding financial requirements.” Savers can open a savings account in under five minutes via the Monument app. As a UK first, the app offers in-app live chat, audio, and video calls with 90% of calls answered in less than 20 seconds. The app is also the first in the UK market to offer co-browsing. This allows clients to share their screen with the UK-based client servicing team.
Monument is also rapidly evolving its suite of financial products. Last year, Monument launched a suite of Notice Accounts following feedback from clients. It has also raised its maximum deposit limit to £2m in response to client demand.
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By GlobalDataMonument Lifestyle
Rand added: “Our savings rates are some of the most competitive on the market. While our clients may join us for our rates, they stay for the service. Looking ahead, we are focussed on continuing to lead and solidify our position as the pre-eminent leader in the mass affluent banking sector.”
The Monument app also provides clients access to Monument Lifestyle, a financial experience that goes beyond banking. Launched in 2023, it offers more than 35 services, serving as a life companion, catering to everything from life’s crucial matters to its most enjoyable moments.
