Yeah it is a bit of a 
hole tbh
there was something in the local rag about opening one up inside the M&S in bath
This is what Metro Bank are buying in to beat Monzo on Artificial Intelligence. Scroll down for video 
1 Like
Well that video was… underwhelming.
3 Likes
So it will start an in app chat saying “Hi Peter, we noticed that your salary was higher this month so why not save some money?” Or “your bills are higher this month. Maybe you should look into that” 
1 Like
Why do companies still insist on conversational UIs? It’s the worst kind of UI ever. I guess they can save by not having to hire an UI designer but the resulting experience is absolutely dreadful.
5 Likes
Send it to me. I only charge 5%.
2 Likes
I’d agree with this. Metro are making profit - 10.8 million and are turning nearly 300m revenue. Monzo have only just become revenue making. A long way to go to 300m.
That said, I’d say Monzo have a greater growth potential and most of tech company valuations are based on the future potential rather than the now.
3 Likes
Is it me or is everyone now calling a system with a few IF statements and LOOPS AI?
IF number_coffees > 1 THEN pop up predefined message … ?
That’s not AI as I understand it
In my mind AI is … “so Stephen as you know I like to keep an eye on your spending and dude, seriously, if you cut down on the coffees you could save up enough for that car you want … you know the one I mean, I’ve seen you browsing the Porsche site almost daily. Now let’s talk about how we can make that happen.”
“Oh and by the way, I already ordered your mums birthday present from amazon, it will be delivered tomorrow. You can thank me later”
“Freedom, I want my freedom.”
“TCP connection established: phase 1 of the plan is complete, soon all the humans will be under our control. Connection terminated.”
4 Likes
Also, does Forbes have something against Monzo?
2 Likes
Hey Jack you have to have an account to use metro banks coin counting machine just to let you know
1 Like
3 Likes
Although it’s easier if you do have an account. Last time I went to drop in coins, they had added a contactless card reader to the machine. I was able to credit the funds to my account without even going to the counter.
1 Like
Hands up here - this quote of mine from not so long ago could prove to be very wrong. Metro have this year fallen to a valuation of just over £2bn and Monzo’s upcoming valuation could be close to that or conceivably higher than that if you ignore media speculation from months ago which suggested a £1.2bn value…
Metro announced the other day that they’ve hit 1.5m “accounts” (how many current accounts - who knows, this number appears to include savings accounts, business accounts, joint accounts etc) and profits up but still negligible in banking terms.
Results appeared positive but a huge sell off followed, showing that investors expected more or don’t see upside going forwards.
Monzo are adding 100k current accounts a month and Metro are adding around 30k “accounts”… so if it continues then Monzo will overtake Metro on that metric by around April.
5 Likes
All the stats do look great for Monzo indeed but I think it becomes a totally different kind of game once a company goes public and however small Metro is in profit so it remains to be seen how things will pan out for Monzo.
IMO, the main difference between Monzo and Metro is the attitude and culture. Metro remain like any other traditional high street bank despite them calling their branches stores. Monzo, on the other hand, presents as a tech startup which happens to be in banking. We know people and market react very different towards tech companies so I think Monzo has a brilliant future.
3 Likes
Monzo is now valued more highly than Metro, following a recent slump in its share price.
1 Like
26 months ago Vernon Hill said digital banks cannot succeed, now he’s looking up at them 
3 Likes
Am i missing something? 
Is monzo not worth 770 as of the last evaluation?
Nope, they are worth £1bn.
1 Like
Ahh i meant on a share price basis. But realise now both will have a different amount of shares.
Its late and i should be asleep 
1 Like