Give me financial insights / analytics / comparisons!

I’d like Monzo to help answer some questions about my finances. Things like:

  • what’s my spending like over time? Is it going up / down? How does it look in absolute terms, compared to inflation, compared to changes in my income?

  • where do I spend the most money? Where do I have the most transactions?

  • how have my bills changed over time? How much have I been spending on, for example, broadband across my current and past providers?

  • what might my finances look like if I modelled different things - e.g. A coffee less a day - or an energy switch.

  • what’s my expenditure like compared with similar people? How average am I? Where might I look at saving money?

  • what is my total net worth? How’s this changed over time?

  • What’s the current value of my house (from somewhere like Zoopla) compared to what’s left on the mortgage?

These were the driving questions behind the rubbish designs here. I’m hoping the Monzo could do this in a brilliant, visually impressive and elegant way. Maybe something like an extended Year in Monzo but in the app?

Vote if this is your thing. And add the questions that you’d like answered below!

one thing I’m thinking is maybe this should be a Desktop port…

My instinct is that you can get some good stuff in the app (or even in a companion app if Monzo wants to keep the main app super simple). But with the right APIs this should be able to be presented in whatever the channel…

My instinct would be that it would be difficult due to the fact you’re limited by the size of the screen… It really depends how deep the analytics are that you want(need)

I suppose it’d be a challenge for the Monzo design team should they want to go down that road. There are apps with great data insights / visualisations so it’d be something to explore at that time!

1 Like

I’m so with you on this (but please stop with the companion app idea :wink:) :+1:

3 Likes

Companion app hereby dropped!

I mean, I want this feature in the main app - that was just a fall back :stuck_out_tongue_winking_eye:

I hope, and kinda assume, this is what will replace summary. Give the key bits of summary more of a spotlight within other areas of the app (left to spend -> transaction/balance screen) and devote a tab to granular and useful insight into your data with better budgeting tools.

1 Like

I think it might be a little be difficult for a bank to do this. Besides that, do you really want a bank to analysis that much data for you? I think I definitely want, as long as they didn’t use this data for marketing things.

But I still think it’s too difficult. It’s not difficult to calculate these data if you are good at Excel, but the problems is most of customer don’t know how to read thought the data. Let’s said, most people don’t read and don’t understand these data.

I might be misunderstanding, but I’m not sure why you think it’s too difficult for a fintech company but is easy enough to calculate if you are good at Excel :thinking::thinking:

1 Like

@Peter_G The reason I am saying that cause different people required different function. For me, I may want to know how much I spend monthly and how it changed. But for you, it might be different. So when I am doing by myself, I only need to calculate the data I need. But if a fintech company wanna do that, what kind of data they should calculated? And how to present it. Cause present too much data the users don’t need (and maybe don’t even understand) will driving them crazy.

I’d love to see similar, I’ve got a dozens account but they’re not as sharp or live as they initially advertised - I’d like to see monzo mimick similar analytical data. But better

1 Like

Insights/analytics etc etc would all look lovely on a Monzo iPad app :wink::pray::crossed_fingers:

2 Likes