Mon, Dec 23 2024
Monument (also known as the "Bank") is pleased to announce that it has raised £1 billion in just four months, from January to April 2024, bringing its total customer deposits and interest-bearing assets to £2 billion.
The only bank in the UK and abroad catering exclusively to the middle class is Monument. Thanks to its innovative technology, outstanding personnel, and well-funded sponsors, it is in a strong position. Monument combines cutting-edge technology with creative service approaches to provide excellent client satisfaction and economical results. The bank has grown significantly; in the past year, deposits have increased by an astounding 993%.
Monument's commitment to serving the mass-affluent market is demonstrated by its top-notch customer service and wealth-enhancement solutions. With an average balance of more than £60,000 per client, the Bank has expanded its clientele to over 30,000 as of this writing, with 200–300 new customers joining each day.
Ian Rand, the chief executive officer of Monument Bank, stated, "Our ability to attract and retain clients with an average balance of over £60,000 each speaks volumes about the trust placed in Monument." "We are pleased to serve the needs of the mass-affluent market and are always changing our products to accommodate their rising needs in terms of money."
With the Monument app, savers may start a savings account in less than five minutes. With 90% of calls handled in less than 20 seconds, the app includes in-app live chat, audio, and video chats—a first for the UK. Additionally, the app is the first in the UK to support "co-browsing," which enables users to share their screen with the client support team located in the UK.
Monument's line of financial products is changing quickly. Last year, in response to customer feedback requesting a wide range of options for managing their savings in a way that suits them, Monument expeditiously developed and launched a suite of Notice Accounts in just 12 weeks, in addition to its Easy Access Savings and Fixed Term Deposits with loyalty rates. Monument increased its maximum deposit amount to £2 million earlier this week in response to customer demand.
Chief Executive Officer of Monument, Ian Rand, stated: "I'm excited to be able to announce our £2 billion milestone just four months after we reached our £1 billion milestone in January. At Monument, we've concentrated on giving our mass-affluent clientele the outstanding service they merit.Although our clients may join us for our rates, they stay for the service since our savings rates are among the most competitive on the market. We are committed to maintaining our leadership and reaffirming our standing as the industry's most prominent player in the mass-affluent banking sector.
Customers can access Monument Lifestyle, a financial experience that extends beyond banking, using the Monument app. Established in 2023, it provides over 35 services, acting as a lifelong friend, attending to everything from important life decisions to the best times in life.
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