And it is rich coming from a representative of the bank championing frauded!
But! The English language is obtuse enough as it is, and in the context here the dictionary definition is just flat out wrong, which is not uncommon as various disciplines tend to develop their own interpretations of words, or outright changing their meaning from how the dictionary defines them in the English language. That’s why jargon exists!
It’s an established industry definition and has been for decades, unlike frauded.
If you ever study surveilance studies or move into network engineering you’ll find it’s defined more similarly to this short (I shortened it a little more) summary from Wikipedia.
Surveillance is the monitoring of behavior, activities, or information for the purpose of information gathering, influencing, managing or directing.
Yes, yes, I know. Wikipedia. But I chose it because it is correct, and because it’s more concise and it’s at least in part formed from one of the materials I read during some of my further studies a few years back for a paper I wrote:
The people.who think this is shocking must have never worked in service or production for big companies. Or maybe worked for really nice ones?
When i worked in a call centre dealing with in house maintenance calls and logging them to contractors, the phone rang constantly and there was a screen above my head saying how many calls i’d taken that day, average call time, and number of calls not answered within 3 rings. And the other staff next to me had the same so everyone knew who was getting things done and who was faffing about. Manager would comment on your stats regularly to pit you against each other.
Now that i work in banking (production/warehouse based) i have software on my computer which pops up saying you are working too slow vs the team average, and if it persists the manager comes round to find out what’s going on.
I don’t feel one person’s poor working conditions should mean everyone elses should be poor as well, but bloody nora if i had the monzo system instead i’d probably just move the mouse about every 4 mins while playing Fifa all day. Obviously i’d take the calls as and when required and do my share of emails,but there would be no stopping me from winning the league every day.
Where there are hundreds of people doing measurable activties from home i think Monzo would be pretty foolish to leave it down to trust to make sure 50 of those staff aren’t having a nap or something.
It sounds like really basic monitoring to me. Other opinions may differ!
It’s almost like customer service and a high NPS score is important to Monzo, so they might want to build some metrics around how to make sure these core tenets are maintained.
Regardless of what work it is you do. There’s usually a way of monitoring output, or quality of output, such that people can justify their existence.
It says that it is paywalled but I can read it all so
Key points:
Monzo allegedly looking at IPO late next year, or in early 2025 at the earliest
well capitalised and looking at acquisitions in the wealth/investment sector. Apparently looked at Freetrade but passed.
might be looking at partnering with Wealth Kernel (presumably for investments) and at taking an equity stake in them, too. Both companies refused to comment.
Yeah, I don’t really think this is the best article, just thought I’d share it as it is still Monzo in the media, and also includes Kroo which I’ve never seen in an article like this.
They seem to be under the impression that you have to use branches for high street banks, but I’ve never once stepped foot in a branch apart from to deposit money because I didn’t know you could use the ATM outside.
But digital only is different than a digital only bank. I am not forced to a digital only bank, but I may be forced to only interact with my high-street bank digitally. They aren’t quite the same thing.