# Instantaneous Banking Apps 'Monzo' is an Online Bank That is "Built for Your Smartphone" By Laura McQuarrie | Published 2017-06-06 | Tech Source: Trend Hunter, https://www.trendhunter.com/trends/monzo References: [monzo](https://monzo.com/) & [itunes.apple](https://itunes.apple.com/gb/app/mondo/id1052238659) Monzo is an online bank that calls itself "the bank of the future," as it is built in a forward-thinking way that eliminates many of the outdated features from financial institutions. Even though many banks offer online banking platforms and apps, Monzo believes that there is a still a better way for customers to [manage their finances](https://www.trendhunter.com/trends/cash-flow-and-capital). As the company's site notes: "We started Monzo because we think that banking should be better. In a world where you can use an app on your phone to order food or a taxi, it’s ridiculous that your bank still takes days to update your balance when you make a card payment. Since Monzo is smartphone-friendly, it offers a range of ways for customers, particularly [Millennials](https://www.trendhunter.com/trends/allt-bank), to review their spending overviews, transfer money and instantly see their updated balance. ## Trend Insights (Trend Hunter) - Score: 2.9/10 - Popularity: 36% | Activity: 43% | Freshness: 8% - Audience gender: 50% men, 50% women - Primary generations: Millennial, Gen X - Top markets: North America ## Categories [Trend Hunter](https://www.trendhunter.com/trends) > [Tech](https://www.trendhunter.com/tech) > [Mobile](https://www.trendhunter.com/mobile) ## Key Themes ### What's Driving This Trend - **Instantaneous Banking:** Disruptive innovation opportunity: Creating banking apps that provide real-time updates and instantaneous transactions for customers. ### Who This Affects Most - **Online Banking:** Disruptive innovation opportunity: Developing online banking platforms that are user-friendly and built for smartphones. - **Financial Technology:** Disruptive innovation opportunity: Creating innovative financial technology solutions that streamline and enhance the banking experience for customers. - **Mobile Payment:** Disruptive innovation opportunity: Designing mobile payment apps that offer instant balance updates and seamless transaction capabilities. ## Related on Trend Hunter - [Multi-Asset Fund Investments](https://www.trendhunter.com/trends/monzo-1.md) - [Startup Banking Apps](https://www.trendhunter.com/trends/mercury.md) - [Global Money-Transferring Apps](https://www.trendhunter.com/trends/hsbc-2.md) - [Banking Super Apps](https://www.trendhunter.com/trends/bankifi.md) - [Simplicity-Focused Mobile Banking Apps](https://www.trendhunter.com/trends/mobile-banking-apps.md) - [Web3-Focused Digital Banks](https://www.trendhunter.com/trends/cogni.md) - [International Professional Neobanks](https://www.trendhunter.com/trends/zolve.md) - [Neobank Metaverse Outposts](https://www.trendhunter.com/trends/quontic-bank.md) - [Blockchain-Integrated Online Banking](https://www.trendhunter.com/trends/online-banking.md)