Once the pre covid transaction volume comes back and the driver of the current $2m being plus and premium accounts it could start to be looking ok.
I’m very surprised to see the name Oliver Smith on that piece, even if it’s just a rework of the company’s own press release. Generally he’s so incredibly pro-Monzo he would manage to make an article about bankruptcy sound like a magnificent triumph 
I wonder if a combination of that now Tom is officially moving on, the changes that have happened over the last 18 months within Monzo, and that the world, and market, is in a different place Monzo will find less support in the press than they used to. I’m not sure, it will be interesting to see.
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Suppose if your charging people $5.5k to access the report, you would want a juicy headline to get attention
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The ultimate click bait. 5 and a half grand is a lot of money but boy that headline is intriguing! Where do I sign?!
Either that, or respected financial journalists aren’t of the same opinion as members here, who hold the original article as nothing more than a puff piece?
Or he might agree with us. It might be that journalists write pieces for clicks. Who knew?
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It’s more than a rework. He reports on what the analyst alleges, and then rebutts some of the key points of the argument with his own evidence/sources.
It seems very even-handed, and I suspect he was deliberately treading the line between “this is news and I have to report on it” and “I don’t agree with the analysis and can make that clear while reporting”.
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Monzo in the media.
While I love my Monzo account, Barclays charged 16 times that in impairments in a single quarter last year and STILL turned a £700 million profit. Compared to my income £100 million sounds like a lot, in terms of the UK banking sector which generally reports income in billions it’s a rounding error after the decimal point.
Monzo’s PCA offering is fantastic, but as a business they really need to move away from being something you spend money on and become something you make money with.
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Well, yeah they aren’t Barclays yet 
it’s still a medium sized startup.
The point was, it’s a threefold invrease in revenue since their last full financial year.
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Challenger banks are still leading the way when it comes to keeping their customers satisfied.
Monzo earned the top spot in the Financial Conduct Authority’s league table for online and mobile services and was also named the best for the quality of its overall service after customers were asked how likely they were to recommend the bank to friends and family.
Monzo’s app, which keeps track of your spending, has proven hugely popular since its launch in 2015. The bank has nearly five million customers, but has endured hefty losses and will suffer further as travel restrictions mean that customers can’t use their cards overseas.
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Not all positive though. Also from the article…
“Despite scoring highly in the service scores, Monzo had the sixth highest ratio of complaints at 5.75 per 1,000 accounts”
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It could also be because of how complaints are identified. See with Monzo they don’t handle over the phone queries so that might drive more complaints
There are also rules with the FCA. If a customer displays Financial Loss or Emotional Distress then it has to be treated as a complaint. It’s hard to understand body language through in app chat so that could be a factor for more complaints
I could be completely wrong 
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4 posts were merged into an existing topic: Monzo in random Ads
Thanks to @o99 for the spot
This existing topic seems a better choice for appearances in random ads:
We shouldn’t have to guess whether something belongs in “media”
I have moved across the handful of recent posts prompted by @N26throwaway spotting of a Monzo filled wallet
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Excellent coral crewing! 
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Starting light!
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“There are reasons to believe that Monzo can ride out this period. Its five million customers are a leap from 1.3 million in 2019. Weekly revenues are 30 per cent higher than they were before the pandemic and it has been pushing into paid-for products. People continue to love the bank — Monzo is one of the most recommended brands in Britain, according to YouGov.”
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