You and Yours

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You and Yours: Gap Finders - Tom Blomfield, founder of Monzo Bank

Gap Finders - Tom Blomfield, founder of Monzo Bank

BBC Radio 4 - You and Yours, Gap Finders - Tom Blomfield, founder of Monzo Bank

Monzo founder Tom Blomfield on changing the face of banking in the UK.

Tom Blomfield, founder of the so-called disruptor bank Monzo, on the joys - and the pain - of launching a digital bank, and changing the face of banking in the UK.

Presenter Shari Vahl talks to the founder of Monzo Bank, Tom Blomfield, about the gaps he saw in the banking system which inspired him to launch a new concept in banking.

Frustrated at the experience he had in dealing with his own traditional bank, Tom’s vision was a space which customers could access digitally using their mobile phones. He saw other companies doing the same to order taxis and food…so why couldn’t banking make the change, too?

What followed was a roller-coaster ride trying to raise funds, dealing with some nightmare clients while at the same time, gratifyingly seeing the number of customers rising - by the millions.

Then – Covid struck and Tom found the pressures of running a fledgling bank was starting to take its toll. He left the bank in 2020, and explains why...

We also hear from a businesswoman who has watched Tom’s back over the years – Eileen Burbidge, an investor who now sits on the Monzo board.

PRESENTER: SHARI VAHL
PRODUCER: CRAIG HENDERSON

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Gap Finders - Tom Blomfield, founder of Monzo Bank

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