A digital "challenger" bank who has the financial backing of the Collison brothers has achieved approval to operate in Ireland. A digital "challenger" bank who has the financial backing of the Collison brothers has achieved approval to operate in Ireland. Digital bank Monzo - backed by the Collison brothers - given green light to operate in IrelandThe Irish brothers behind payments firm Stripe, Patrick and John Collison, contributed to a recent funding round for app-only UK bank Monzo. Monzo has now won approval from the Bank of England Prudential Regulation Authority (PRA) to offer its product here through the EU passporting facility. This latest development comes less than twelve months after Starling Bank won similar approval to operate here.

Source: Irish Independent February 16, 2018 11:05 UTC