In a monolithic architecture the logical architecture may be modular but typically implementation view(deployable unit) is a single war/jar . While to start with monolithic architecture is simple to code over a period of time change into systems which are too complex for any developer to understand with lot of intermodule interdepencies and also very poor fault isolation capabilities at run time.
 
Note the software architecture has a 

Monolithic architecture has compelling advantages becuase of which many application are developed using the monolithic architecture.

How over a period of time in large complex applications monolithic architecture becomes unmatainable no matter how desciplined the software team is 

Microservices architecture to the rescue.

The high level definition of microservices is an architectural style that functionally decomposes an application into set of loosely coupled services which talk via api . 

Advantages of microservices architecture 

Disadvantages of microservices architecture