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Share of Monzo bank app downloads worldwide 2020, by country

Published by James Cherowbrier, Aug 31, 2020

Established in 2015, Monzo bank is a United Kingdom (UK) based retail bank that provides current accounts to individuals, limited companies and sole traders. With no physical branches, Monzo bank is one of a growing number of disruptor or challenger banks which run accounts online through mobile apps. According to data provided by Airnow, Monzo customers are currently concentrated in the UK which, as of June 2020 made up 88 percent of all IOS and Android downloads.

Customer volume

In February 2020, Monzo officially had under four million customers. In terms of app downloads, which can include double downloads as well as inactive accounts, Monzo surpassed five million in May 2020. By the End of 2021, Statista has forecast that Monzo will have more than seven million app downloads, second only to Revolut out of the European based neobanks.

Winning over customers

Since the second quarter of 2018, Monzo have seen a consistently positive ratio of customers gained in the UK. As it stands, app-only banks as well as banks with a sustainable finance business model have displayed the highest customer gained ratios of banks in the UK.

Market share of Monzo bank app downloads through IOS and Android worldwide as of June 2020, by country

	Share of total downloads
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Release date

June 2020

More information

Region

Worldwide

Survey time period

September 1, 2014 to June 2, 2020

Special properties

Android and iOS devices

Supplementary notes

IOS and Android app downloads.
Downloads after September 2014.
Countries included are those in which downloads make up for one percent or more of total downloads.

* Other countries with downloads include: Argentina, Australia, Belgium, Brazil, Canada, Chile, China, Colombia, Czechia, Denmark, Ecuador, Egypt, Finland, Hong Kong, Hungary, India, Indonesia, Israel, Japan, Kenya, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Pakistan, Peru, Philippines, Poland, Portugal, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Sri Lanka, Sweden, Switzerland, Taiwan, Thailand, Turkey, UAE, Uruguay, Venezuela and Vietnam.