Extraordinary ideas that only Monzo would try!


(Rob) #143

A monzo version would be great! The black one with red inside looks nice
image

Dutch bank ABN AMRO are the only bank to have partnered with them so far.

My only gripe is that it would expire after 4 years like a card would and I could tell if you would have to purchase a new one.


(Sergiu) #144

Maybe this was mentioned before but I would love to see a black metal card. Maybe even pay a monthly ‘subscription’ and have some benefits for it. (much like n26 has)


#145

No sure if it’s been mentioned but…

Build your own logic for pots…

E.g. IF I get my paycheck AND my pot has LESS THAN £100 THEN transfer £20

It would allow greater control over what was saved when.


(John Christiansen) #146

Welcome to UK account for Monzo - similar to a Basic Bank Account.

Loyalty programme: I’m working on a product at the moment that might be of interest, the simple version of it being that if you have a neural network that can be used to estimate the probability that a transaction isn’t being made by the authorised cardholder (e.g. for fraud detection) it should be possible to run it in order to say that this is what the next transaction will be.


(Jay Turner) #147

100% this. I walk into McDonald’s: ping! It’s Monzo! “are you sure you wanna do this?”


(Neil M) #148

Getting Monzoed added to the Oxford English Dictionary as a synonym for pay.


(Thomas Pateman) #149

Yea. Or even more advanced, if the contactless chip contained the address.
I think I may embark on a little mission to trigger an email via NFC to an address cotained within the RFID chip! I wonder How much information those things can actually hold…time to dust off the raspberry pi…


(Stewart) #150

I think there is merit for some social responsibility / ethical innovation and ideas. But a few…

  1. Encourage greater use of the pots - fab way to teach people to save digitally. Include a count down or progress counter on the pots against the target eg. % of target pot saved and allow customers to use their own images on the pots e.g new car or house or jacket etc.

  2. Highlight more of the ethical side of banking that Monzo is part of. It’s such a strong selling body that goes unsung. Linked to this was a recent article where Monzo helped a gambling addict, I read it and took reassurance that Monzo is a people first bank.

  3. Link to loyalty programs eg. avios…

Good luck and keep up the great work Monzo!


(Kenny Grant) #151

I agree this is a really nice area for Monzo to focus on - it’s something traditional banks won’t touch, and if done well it has the potential to really help people.

I think saving and investment for people without much money would also be a good place to focus on, if you could build good habits for customers and get them to a place where they have a financial cushion - swapping a few months relative hardship for years of security instead of living paycheck to paycheck.

One other area Monzo could do better on in this regard is overdrafts - it’s good they have clear fees but it’s really bad IMO that the rates are regressive and punish those who can afford it least. I hope they’ll take the opportunity of changing regulations later this year to look at this again.