Pro

Analysis

April 7, 2026

Why is the US so hard for European neobanks to crack?

Monzo’s exit serves as a cautionary tale of costs and complexity


In the same month that Revolut filed for a US banking licence, fellow London-based digital bank Monzo closed its operations in the country after seven years.

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Damisola Sulaiman

Damisola Sulaiman is Sifted's fintech reporter, based in London. She writes Sifted's weekly Fintech newsletter . You can find her on LinkedIn

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