FSCS protection mention in app - Increasing brand trust?


As I was having to do a boring visit at my other bank today, I was checking out and comparing the two apps.

On the Monzo events we’ve heard it many times that one problem is still trust in Monzo and questions around money protection.

I realised that my Halifax app has fscs logo as soon as I enter the app and throughout the experience which Monzo doesn’t seem to do.

Do you think this is something that could potentially increase trust towards the bank from people who only occasionally use their Monzo accounts?

The other question to ask would be:

Do people know who the fscs are and what they do?


Another question would be, if I’m used to seeing it in my legacy bank app, is NOT seeing it a small subtle way to reduce trust in new users?

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It doesn’t stop that fact Monzo is FSCS protected, so if you don’t know what it is, you’re not bothered by the logo not being there, if you do know what it is you’ll know Monzo are part of it and so aren’t bothered by it not being there.


And if you don’t know what it is but your previous bank display it, and you’ve seen it on other financial institution webpages and you know enough to know it’s a “good thing”…?

Bit like HTTP versus HTTPS, I know technically why, but some people only know (and only care that they know) that the little padlock is ‘good’ if they are buying something online…

File under: Wouldn’t hurt to include it?


I get the logic but just because a bank displays something doesn’t automatically equate it to being a “good thing” - you’d have to understand what FSCS Protection actually means for someone to conclude it was a “good thing”.

It also appears that there are a lot of regulatory requirements if you are going to put the logo in your channels - likely it is something that throws off the overall look and feel of the app so Monzo decided not to implement?

It’s solid logic and it’s why we included it in our tube ads last year.

Our app, we try and keep pretty minimal. I don’t think we’d want it on our splash screen.


Yeah no doubt a design decision.

I’d still sway towards lowering the barrier of trust by adding it. And I disagree that you have to know exactly what FSCS Protection means to conclude it’s a good thing, the logo is familiar, familiarity brings trust. How many people actually know the specifics of the ‘wee skidding car button’ in their car labelled “Traction Control”, but still know it’s better to leave it on than off… ?


I understand the design view. But if I chat to someone and they download it without seeing an ‘ad’ …

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Yeah, but … it ugly.


Yeah I don’t see much benefit of it In the app. If someone is worried about signing up to a brand new bank (like I was initially :joy:) and they know what FSCS protection is, then they will have discovered before installing the app that Monzo is FSCS protected. I don’t see the value of displaying it every single time you open the app.

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I think we have it mentioned in the onboarding when signing up though, right? I could be wrong - it’s obviously been a while since I went through the sign-up flow.


YOU’RE UGL… ohhh sorry, mis-read that! :wink:

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Yeah I see your point, but familiarity doesn’t always mean it’s a good thing, its quite a blanket statement to suggest just because you’ve seen something around that its beneficial for you to support that thing.

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Not always. But for many it does. Why do you think big brands are BIG? Because they are trusted by many regardless of many facts that would suggest otherwise (hello Starbucks, Amazon etc). #devilsadvocate

Then they’ll see this in the description on the Play Store:

  • Rest easy
    We’re part of the FSCS, so your money is protected up to £85,000.

I would assume the iOS store has something much the same.

I can see the value in including the FSCS logo in the advertising - which Monzo do do now - but I can’t see the value in adding it to the app. I would argue this is because with legacy banks you’re starting from a position of having used them as a bank and they’re trying to get you to trust their app, whereas with Monzo you’re already starting from a position of trusting their app because that’s the only way of using them (that is, if you’ve got to the point where you’ve been convinced to try them, an FSCS logo or not isn’t going to help or hinder in any way).
Perhaps not by best use of the English language above, but hopefully clear enough that you see what I’m trying to get at.

Also, slapping the FSCS logo onto a separately designed splash-screen almost always* looks flipping ugly, so I can fully understand Monzo wanting to avoid that!

*I haven’t actually seen an exception but thought I’d at least grant the possibility there may be one out there…


I understand the point on the design, but I
still think that if the hypothesis is correct and it would increase trust than it’s still worth including it. I assume it’s something that would need to be A/B tested to see how the monzo community reacts and if it has the benefits expected.

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There is, but who reads all that blurb! :laughing:

And yes, good point, I already ‘trusted’ Bank of Scotland, so downloading the app wasn’t a worry.

And double yes to the FUGLY logo!!

But that’s exactly what I’m saying, I’m not denying the usefulness of logos and branding - it just doesn’t always mean that its a “good” thing - caveat emptor and all that.

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Not sure a/b testing it with the Monzo community would help, we already know, like, love and trust Monzo!

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