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Interesting move, I think we are going to see this pattern more often. Where banks want to go beyond selling financial products and start fulfilling end-to-end customer journeys.

You want a Loan because you want to buy a car, you want a mortgage because you want to buy a house, etc...

Totally agree with the previous comments.

I really like Monzo and their focus on user experience, but it is not very clear to me how they are going to survive once funding starts drying up.

What I like from this article is the approach Monzo has taken to solve the problem, focusing on the user

Send a push notification to the customer and being able to verify the identity with a picture of an ID and a video of the customer. (Haven't done it personally, but it doesn't look it will take more that 10 - 20 min to do it)

While traditionally, you would have got a letter from your bank, asking you to go to the branch, you would have to wait in the queue, present your documents, etc...