Continuing... The Monzo of Old is Dead

Unfortunately the previous conversation got shut down because it slid into people just sharing their user ID numbers… but there was an interesting discussion going on before that happened.

I wanted to add my two (unpopular) cents: Namely I would say the opposite to the OP, and for me, any company that reaches out to its forum base for an idea on how to handle a particular situation is already lost…

From my experience, doing something like this tends to come from a lack of an internal compass. There’s no clear vision.

You might argue that not listening to your customers is a mistake, however that needs unpacking, too.

Firstly, a forum like this is for a subsection of customers, not a cross-section. So, if you want to learn what your customers think, then ask them to fill out a survey through the app… not put a poll on a community forum.

Secondly, listening to your customers really means responding to their complaints… not asking their desires. An author doesn’t sit down with their audience and say, “So, what should this novel be about? Hmm… You like robots. You like cowboys. You like romance. Ok, so what you’re saying is I need to write a romance about a cowboy who falls in love with a robot!”

For me, Monzo changed my financial life. I finally started saving for the future because of it. For the first time ever, in my late-30s, I felt in control of my finances.

To me, that was the big selling point, and I wrote a post about it here and asked them to consider that as a strategy. Instead they added a feature to change your energy providers. Huh?

The old leadership seemed utterly lost, and built a company based on an unsustainable promise: No fees. As an investor, I really hope the new team can turn it around.

Not being able to make money when you’re a bank seem to take a special kind of talent, and Monzo has already been overtaken by its smart bank competitors :frowning:

The Monzo of Old is Dead… Long Live Monzo!

(Actually, if there’s one thing I miss about the old Monzo, it was the Apple-like attention to detail. Everything used to be just so :ok_hand: But every time I see the new logo I think there’s something wrong with my screen… why did someone think it was a good idea to add a green tinge? Orange is a warmer colour than green… it looks like the brand is sick.)

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