The argument is: Traditional banks need £6.7m just for toilet paper, but Monzo can (and has) built an entire banking infrastructure complete with regulatory ap

The argument is: Traditional banks need £6.7m just for toilet paper, but Monzo can (and has) built an entire banking infrastructure complete with regulatory approval for that amount. This suggests a velocity and efficiency of the upstart that could result in significantly surpassing traditional banks in the service offered, and continuing to advance at a rate at which the banks will never catch up. [I'm a Monzo customer and like the service, if nothing else because every transaction is tagged with your GPS location from your phone which makes identifying mystery payments much easier. I think it's a force for good in the banking industry, but inevitably the big players will respond to the threat, and that's ok by me]