I'm not sure I'd class Mondo as a "passion Project" they're a company with a product in alpha (payment card) and in the process of getting FCA accreditation, which requires quite a bit of work to get started on...

As to whether their vision of financial services takes off, I think that remains to be seen, but it's very interesting to see the large number of new banks starting up in the UK market which has previously been dominated by a few large players.