Digital bank Monzo is exploring a significant expansion into the telecommunications sector, potentially challenging Britain's established mobile networks with its own phone contract offering.
The 10-year-old lender has confirmed it is in the "early stages" of developing the concept. Reports, including from the Financial Times, suggest Monzo is investigating the launch of a digital SIM, enabling connection without a physical card, alongside monthly contracts. The company is expected to operate as a mobile virtual network operator.
