New York fintech holds its own against any other startup scene, no doubt about it – but even New Yorkers will admit that London is ahead when it comes to challenger banks. During a recent reporting trip to New York, the consensus was clear: there’s great admiration for up-and-coming UK banks like Starling and Monzo (which changed its name from Mondo in August). These are the next-generation banks that are offering a full retail banking service, rather than just a front-end built on top of existing infrastructure. “This is what I want [to see] more of the US. I want new online banks built from the ground up. I want to see somebody do it,” said Joe Ziemer, head of communications and policy initiatives at Betterment, when we met in May.    banking sector.

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