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This seems like the same poor journey traveled by so many of the tradtional banks with package banking - "same old; same old".  Monzo have a chance to rectfiy this.  Can they?  Will they?  Attracting accounts in banking is easy; creating sustainable profitability is far tougher.

Really? Banks have used note counting / sorting machines from long before ATMs in their cash centres.

The research does not seem to address the behavioural segmentation of people vis-vis managing their money.  Simplistically, people can be segmented based on lifestyle (spending / earning balance) and orientation to managing their money (careful v laissez faire).  It is this that tends to best explain financial outcomes.  The question which needs to be addressed is whether use of a PFM improves finanical outcomes.  As those who opt-in for using a PFM are almost certaintly behaviourally different from those who do not, it seems that this research is flawed in comparing the behaviour of two non-comparable groups.  A proper control test (before and after) is surely required to establish whether use of PFMs leads to better financial outcomes.