Monzo - 2019 - Will it Thrive or Fail?

Ill give it a shot, thank you.

Sounds like you need to sign up to notifications so as soon as one comes available you can apply.

This is on the careers page:



Lets hope you’re predictions are right :smiley:

I think that might be a waste of time because I would imagine that you will get a generic response along the lines of … “We have no positions available at the moment but keep an eye on our careers page as we will list it here when one does”.

If they needed someone in the next few months they would be advertising already, so they couldn’t in good faith give a date so far in advance. I could be wrong though :no_mouth:


Hi James,

Excuse me if wrong but if my memory serves me correctly you were looking a placement opportunity? I thought a member of staff actually directly responded to you on that thread that currently this wasnt available at the moment?

I dont think this would be a case of being persistant and you will be given one, monzo is extremely transparent and im sure if the opportunity to take on placements was feasible they’d advertise this across many channels :blush:

Again if im wrong apologies for wasting your time, on mobile so difficult to do searchs for your previous posts.


I had a quick search for you mate. Is this the topic you were referring to?

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I think you’re looking for this…

@Avishai from #CoralCrew kindly linked to a similar topic discussed previously…

I’m just here to link you to the posts you’re thinking of, I’m not going to take a view on whether @12jprince approach was right or wrong as it’s off-topic.

I’m sure there would be many many happy faces in the :monzo: office (and community) if @rarther predictions come to fruition! :tada: :tada: :tada:

Monzo seem to have nailed ‘word of mouth’ advocacy and I’m sure there are a great number of people in this community who would testify to the benefits they have reaped from the way Monzo engage with and take feedback from these pages. They truly seem to want to give us ‘what we want’ from a bank and, provided they can continue to do this, whilst working towards a profit-per-customer model, then it’s a sign of great things to come.

A year ago, most people would see my #HotCoral card, and think, “yeah, maybe there’s some merit to it for my holiday spends”, but that would be about it. Now, those same conversations tend to contain more questions from people about what the benefits of having an account are, how often I use it and would I choose them over another provider. Those who were merely inquisitive, or perhaps even a little too scared to make the leap 12+ months ago are now considering signing up now there is a 1m+ customer base and therefore more of an air of ‘safety in numbers’.

It might be a stretch to suggest sign-ups to new banks follows the typical ‘technology’ early-adopters vs laggards model, but if it did, it would be interesting to hypothesise where on the curve :monzo: are right now! What do you think guys, are we still in growth stage, or is the plateau coming?


Monzo have done an amazing thing for banking which is make the sleeping beasts wake up and have a need to improve. This has started happening now. You see other banks having the features that Monzo had that nobody else did and they will continue to improve their UX. I’d love monzo to survive and thrive but I don’t think they will.

Sadly i think growth will start to slow down over the next 12-18 months and I don’t think monzo will become profitable.


Looks like our threads crossed as I was hashing out my answer to the main topic :blush:

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Slowed growth doesn’t necessarily equate to not profitable.

Speaking from experience I know it’s possible to sell less (volume) and still make more (both money and more importantly, margin).

As you put it, the sleeping beasts have cottoned on, and are catching up. Card freezing and unfreezing. Attempts (albeit not as good) at ‘pots’ from some of the big 5.

What gives :monzo: their edge though, is their innovation. If they can continue to be ahead of the curve, and keep the old dogs on their tails, then there could still be a lot more mileage in this.

Marketplace will be one to watch when it comes to profit-per-customer, especially if they can create a one stop hub for our other financial needs.


I think the discussion in this topic is becoming the same as this one. They are arguably the same from the outset too.

Especially since the OP is posting the same statements in each, thus the same things are being repeated so it is getting messy and repetitive.

Can one of the Coral Crew (@Dannytc, @glasgow, @Peter_G etc ) or @yen tidy them up by removing the off topic discussion around recruitment and perhaps merging this topic with the one linked above?


I think as this thread is attracting a lot of attention and very insightful comments of the outlook for Monzo in 2019 it should remain.

Yeah its a great discussion I’m not doubting that, just that it is similar to another one so it makes sense that everything is grouped together. Will help with my OCD too :smiley:

Maybe we should vote, to see if the forum wants a Mexit?

Either way, there are two threads that are talking about the same thing - So merging is better :smiley:


I appreciate everyone’s comments so far and it is very interesting to highlight the various opinions as to what the new year might look like for Monzo.

Would love to hear more from other Monzo community members on their outlook for Monzo’s 2019

I think their philosophy to design makes sense. What I mean by this is they listen to the community. This means that rather than the collective insight of a small team. You get the collective insight of several hundred people from varied backgrounds,industries and levels of finance. A bank such as this will only continue to grow if certain things are met

  1. Scale- The scaling needs to be effective and cost effect.There is no point scaling say 100 COps when you actually only need 10. Conversely they take time to on-board and train etc. So sooner they hire a business analyst for work efficiency or something the better.
    On that note
  2. Sustainable scaling - Number of accounts opened is one thing. Number of accounts that are dormant is something else. To this end there is the perpetual balance of how much expansion is too much? How do you make sure your product continues to grow without outgrowing its market. I think Europe is a good place to expand into but then there are language constraints. I.e all the English needs to be translated into whatever European language. How do you do that and what employment do you use. Do you use paid or could you rely on a community driven project?(Plus Brexit :hot_face:)
    Or you expand to America, but then there will be regulatory issues and expense.
  3. User research- user research needs to be diverse and inclusive. For example a re-examine of the PayPoint charge would be interesting. As for some paying cash into an account and paying £1 for the privilege that’s fine.For others, £1 is a lot and having a deposit limit is a limiting factor for uptake.
    Also needs to be looked is marketing and how people like to be market to. I.e if you’re a diehard Monzo fan who has been here since the Alpha/Beta and used 10 Golden tickets.Then there is no reason to have all of the marketing material in the world. However if you’re not you might appreciate the prompting but how much prompting is too much.(I.e don’t annoy your own customers,they like you keep it that way :hearts:)
  4. Patience - Patience how long is too long to wait for a new feature. A month, a year, a week.People have different tolerances e.g through some of the games I play I’m used to new content maybe every month or so. Also are hotfixes a good idea? I.e after the marketing issue things were fixed very quickly indeed.
    In conclusion,personally I could quite easily say that Monzo is thriving now.
    Its Metrics are better than most of its competitors with continued growth.
    It easily funded a crowdfunded round.(I’ve included this as a Metric to show the passionate nature and belief that Monzo users have in the product and ethics)
    It started to have savings POTS.(A sign of a Market place-whilst its got a poor rate of interest and withdrawal issues. Its Proof of concept)
    The CEO got an OBE(If that wont send positive vibes and free advertising/media coverage nothing will)
    I could also say its failing,
    its API needs some work.(Given its workable for some. I’m a bit of Newbie when it comes to REST API)
    IFTTT uptake is barely 10% of its user base(I want triggers give me more Triggers!! :see_no_evil:)
    Profitability is a concern(development etc) + Hello that operational deficit)
    Its failed to bring Cheque imaging( As my dad said (we were discussing Cheques for Xmas) why didn’t they do it sooner.) Its a priority thing(and regulatory thing))
    Marketplace and integrations with other things(Again its difficult , these things take time)
    TDLR : I think Monzo will continue to surpass people’s expectations but it needs sensible and adequate restraint

I will try and comment on this later as i am out at the moment… but having a quick skim it is evident that you have made some very interesting points!

Will check back later.

Thanks @Ordog
I’ve gone ahead and closed the other thread with a redirect to this one, lets all try to stay on topic :slight_smile:

I’ll see if I can tidy up some of the posts above later.

For reference the thread that was locked does contain some interesting posts worth reading: Monzo, Where to next?


This was mentioned in the blog about recovering the help chat response time. They have already started rework in this area based on experience

Believe the delay results from not being a clearing bank. The legacy banks already were on account of other activities, so could do that quicker

DO you seriously think monzo will be free forever.
How long Monzo, Revolut etc can survive WITHOUT FEES.
Next Crowdfunding coming soon.
I would really like to be heard from Monzo what is their plan.
I am sure Barclays are charging them for accounts they are giving to users. Even its 30p per account per month. Its still something.

Question is HOW LONG.

The loss for the year before tax was £33.1m (2017 £7.9m) primarily as a result of an increase in our operating costs.

Our costs increased by £26.9m to £34.9m in the current year (2017 £8m) as a result of investment in the banking operations with the Company becoming a fully operational bank during the year.