Monzo's app allows customers to view transactions, set budgets, and receive notifications of their spending in real time. The bank also provides a range of other financial services, including overdrafts, loans, and savings accounts. Monzo's target customer is primarily the younger generation and tech-savvy customers who prefer banking through mobile apps. Monzo also focuses on transparency and customer service. The bank has a unique feature of Monzo community where customers can help and get help from other customers. Monzo has grown rapidly since its launch, with over 5 million customers as of 2021.