[Nextgrid]

I wonder if their system, by virtue of being modern, is too good and catches a lot of fraud that would otherwise remain undetected by legacy banks' systems? Not to mention, opening a Monzo account is much easier and can be done remotely, thus it could be attracting a lot of malicious activity that just wouldn't even reach the legacy banks because the laborious account opening process would filter those out?

[dalyons]

I work for a different fintech and both of your points are spot on. Much higher baseline fraud attempts due to online/remote accounts, but much more sophisticated real-time ML/detection systems.