Monzo - 2019 - Will it Thrive or Fail?


(Myles Carey) #103

Certainly all of the salaries of people I know are paid in £’s.


(Tom ) #104

This is literally their business model.


(Splodf) #105

Stuart was talking about for support Tom.


(Tom ) #106

I know. It’s unlikely they will iterate on phone support, but rather make in-app better for everyone. Phone support is the thing that isn’t sustainable - it’s very expensive. One member of staff per user at any one time, whereas in app allows for multiple.


(Stuart) #107

A business is all about service and app only simply won’t work on a large scale.

People lose phones etc. There needs to be backup.


#108

Iv said on the forum before that losing my phone is my monzo nightmare. I am of the opinion that monzo really should have a more beefed-up online option for this scenario. Imagine losing your phone and not being able to do much else other than checking your balance until you’re able to get a new phone - which I suspect for most people will not be a case of just popping down to the shop the next morning and buying a new one immediately.
I’m not suggesting that I think monzo should have every feature that the app has mirrored online - I understand that their model is hugely app focused - I just think that people should be able to manage their basic account functions online in case they lose/break their phone.

In regards to customer support, I think having a phone number for emergencies only is OK (as long as there is an answer), provided that chats are answered swiftly in-app. Just my personal opinion.


#109

One of the reasons I would love there to be an iPad version of the app :pray: although obviously a web version would be accessible to a larger group of people.


(Jack) #110

Technically you can download the iPhone app onto an iPad but it doesn’t fit the screen all that well.


#111

Yeah I’ve installed the app on my iPad. It isn’t great but it works. It’s only there as a backup in case I lose/break my phone and need to access my account.


(Rob) #112

A fully functional website with all the Monzo features is definitely needed.


((╯°□°)╯︵ ┻━┻) #113

That’s not a quote from me, I didn’t say that :joy::confused:


(Rob) #114

It was quoted from a quote in your post.

I’ve no idea how to quote from another thread lol


(Simon B) #115

Fixed that for you, since it annoys me when that happens to me as well :grinning:


(James Prince) #116

What do people think about N26 new valuation of 2.7bn and its recent funding of 300m?

Competition is high, could this benefit Monzo, by allowing Monzo to pick up and improve on mistakes or innovations made by other fin-tech start-ups?


(Jamie 🏳️‍🌈) #117

This is in the N26 thread


(Andrew Raynes) #118

I think Monzo is going to be highly successful across the globe. I think the winner of the Fintech’s is going to be the first to launch in countries like India, Indonesia, China though.


(Andrew Raynes) #119

N26 sucks and if you want to close your account you have to do so by post.


(Jamie 🏳️‍🌈) #120

Why would you want to close your account?


#121

Why would they make you use the post?!


(James Prince) #122

I closed my N26 account as I didn’t think it was anywhere near as good as Starling or Monzo