MONZO challenges traditional UK banking with an app that has been downloaded by more than four million people. It plans to make banking better by solving problems instead of just selling products – and by acting with fairness and complete transparency. Monzo accounts come without fees or mark ups on exchanges rates for purchases abroad. Clients can organise funds into “pots” for savings, settling bills or spending. It offers loans up to £3,000 and overdrafts up to £500. Robust due diligence and cyber security deter card fraud and identity theft, while FSCS protection covers up to £85,000 of clients’ cash. Monzo invites its close-knit online community to help shape the future of banking, with customer feedback fuelling product development. Without hesitation, the BV judging panel declares Monzo as the 2020 Most Innovative Mobile Banking App (UK) award winner.