Ahoy Mondo community,
I have a couple of suggestions, which are welcome to criticism or comments
My first bank
For alot of young people every day they walk into a bank and get themself setup. Do you remember the first time you went in and signed up for your first bank account? Its one of those small steps into the approaching big adult life!
Mondo being as clear and talkative with their community, should implement something for young bank users. To explain the terminology and explain in plain English the important stuff and features to benefit their experience as best as possible.
With this, you could create a “my first bank” marker for these accounts, you could allow parents to view their kids accounts and put “reasonable” limits in place. (So they dont blow all their money on payday and parents can ensure their kids arnt spending their money on rubbish) or allow them to top up remotely and see how its being spent?.
This is something I personally would have benefited from and im sure many first time bank users would.
Everyone has a “goal” to save up for something. By having projected savings this would mean mondo would be able to see what your “pay” was, the amount you need to save and the time you have of which it can make handy tips to save more money.
For instance, if you buy a coffee every morning, a roll and a news paper at the same store, mondo would assume your going to do this and waits for the transaction to come through. If the transaction didnt come through at the “usual” expected time it would check if you have a projected goal & If you do, it would send a push notification to your phone saying something like “You didnt visit *** today, usually you spend ****, would you like to put this into your saving goal instead?”
Or the app would see what is food and lesuire and think of things that may be unessential things to buy and make reccomendations on what to cut back. Again using a similar example it sees you visit a coffee store 50 times in 2 months and spend £3.48 on a coffee it would suggest if you half this or cut it all together you would save X amount over X time. It means it could show you if you cut down or cut out all together it would also see what days you do these things so if you only buy a coffee from monday to friday, it can figure out if you did something half the time, what you’d save.
As many of my friends who are students who are at university love to go out drinking and think a bit less of their bank than they should, a feature which might be quite handy is the app see’s what is bills (or you pick) it then watches for these bills on specific dates and see what the total of these was at the highest point. When your pay comes in the app can instantly reserve this money and “hide it” from your balance and doesnt let you spend it freely without putting a password into the app. This means your bills should always be paid and you wont fall behind as easily.
We are all guilty of it, going “Ah yes i have xx left it should be fine” but end up forgetting your electricity comes out in 5 days or phone bill…
Just a couple of ideas for thought and comments. I’ve got some others but suffering immensly from a cold so will wait another day for this and apologies if some doesnt make sense, again suffering with man flu!