There’s something Black Mirror creepy about those pics. Like they live their lives on a film set and someone’s pointing a camera and a gun at them.
Do you think they got a bonus if they included a baby or a coffee?
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Ftfy
That’s one dreadful looking card. Thought that much before seeing just images of the card, but seeing it over and over again in a hand really drivers it home
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Tracy from HR in the first picture loving herself sick in the work’s canteen with a mug of tea and the driest crepe I ever saw.
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I can’t see a Bó card in the second from bottom, left pic. Did I miss it, or is it not there? 
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Just saw this…interesting…
“The bank will, however, confirm that Mark Bailie, the chief executive of Bo, RBS’s digital lender, is leaving.”
http://news.sky.com/story/state-backed-rbs-finalises-plan-for-163305m-bonus-pot-11923493
170 people have been working on that for 2yrs, let’s say 3yrs to give some room for error.
Cost of labour? What do we think is the average staff wage? 60k? so roughly £10m/yr in wages.
Overhead costs? More than 10m/yr? surely not. So that’s now £60m
Where is the other £40m? Marketing costs a pretty penny but they’ve only just launched.
The venture has no tangible assets, and the Loot cost them £4m in total, so it’s not there either.
I wonder what they will do now, those 170 people can’t be put to work elsewhere, not when RBS are looking to cut down… Natwest IB is under pressure and the other platforms they are working on seem to have more than enough staff and are in similarly competitive sectors too.
Shutting it down doesn’t seem so unlikely does it?
Maybe £60k for a developer but Baillie alone earns £millions a year, so the Board might account for the shortfall in your numbers.
His earnings from 5 years ago is mentioned in this article:
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Bloody hell, i must be doing something wrong in my career then.
Thats incredibly optimistic, i’d say £25-£40k tops, dependent on level
Easy 60k each in London when averaged out
yh i wanst thinking about that actually, silly comment 
If I were a betting man I would guestimate the average (inc. exec compensation etc), would be around £70k each, so £12m a year on wages all-in. To think 170 people have worked for that long and the result is v1.01 of Monzo, that I can’t explain. Has anyone senior from RBS not had a progress report at any point in the development? It looks as though cheques have been signed without any need for proof of work done. Crazy! I wish I could get away with that, only in legacy banking hey!
I’d be surprised if he was getting much in terms of compensation this year in the form of RBS shares or cash-equivalent options. I suspect Mark had/has a pretty reasonable stake in Bo itself, but unless RBS can somehow monetise the value in that venture (unlikely), it won’t be worth anything to him now. He will probably quit and forgo the value in those shares knowing he can offset the loss against the shares he has in RBS which will probably be paid out if he is leaving the firm earlier than anticipated. Rich people don’t really ‘lose’ money, they just use ‘losses’ to help channel profits from somewhere they can’t access them readily to somewhere they can.
Bó already reissuing cards to comply with PSD2.
I never saw an email from them.
What’s different about these cards does anyone know?
I don’t know about the technical differences, but there’s a fairly big ‘surface’ change to the new cards - apparently the new cards no longer have a signature strip at all.
Please ensure you activate your new card before March 14th, after this all old card will be deactivated. You’ll also notice your card no longer features a signature strip. Chip & PIN is now the main way of securely paying with your card. Signatures are less common now and are less secure. We are one of the first banks in the UK to remove this function.
My email just came through now.
Interesting their limit is £130. These low limits would have really irritated me back when I used my card for contactless, I’d have hit them at least once or twice a week. It shows how quickly Apple Pay has taken over my life, I don’t even carry my monzo card with me unless I think I have a good reason to.
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A new one to add to the list of competition. I wonder what the budget was for this app.
A huge 27 employees required to create that to give you some comparison.
Anyone tried it?
There’s a discussion here
Some more thoughts from the times. Lots of pressure for Bo, it suggests they might try a rebrand now the CEO has left…
(Paywall but you get one free article)
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