Has Monzo bitten off more than they can chew?


#1

Having launched their marketplace about a month ago, Monzo sent an email to beta users today saying this was no longer going to be available to users. As a big Monzo fan… I’m thinking they may have gone a bit too far with this marketplace option. Maybe I speak for myself here, but I’d rather see them stick to the basics, and simply make improvements to the UX/UI.


#2

I think the issue is that investment product is hard to keep simple. Personally, I believe investors need context and information about an investment provider before they can make a decision (unsurprising that I take this view given what we are building with Pia). This creates a huge challenge for the marketplace plays from banking / PSD2 providers. People need to know what they are investing in and be sure it is right for them before they commit


#3

Very interesting! My views on Monzo have changed over the last few months - I’m less and less enamored by them. It seems like other digital banks are making more ground, as we saw Starling launch their maketplace and Revolut add travel insurance (which I love) in the last few months. Why do you think they’ve fallen behind? Unlike you @Lily I want to see them bring as much to the table as possible. I’m an everything in one place kinda gal :P…

At least it’s exciting to see them grow! :grinning:


#4

I’m not sure they’ve fallen behind, just perhaps appealing to a different audience than the Revolut/Starling crowd! I’m a fan of all 3 if I’m honest. Currently abroad, and been using Starling religiously for the first time and it’s great. I just think Monzo has set itself out to appeal to an audience that care more about the app functionality & appearance rather than complex features! By all means - I hold my hands up to debate on this one :raised_hands: