Bad wiki editing there, as the referenced article does not directly support the claim made in the Wikipedia article. This means the paragraph on Wikipedia is synthesised, and amounts to original research.
The reference could be tagged as not supporting claim itās supposed to support, or indeed the paragraph could simply be deleted.
If the reference was to a story or stories about university students enticed into signing up for Monzo so they could do some immediate money muleing, that would be more relevant.
āStarling wants to do the banking things that people know, but do it better,ā said Sarah Kocianski, a fintech consultant. āMonzo wants to reinvent banking.ā
ā¦
Gary Hoffman, the chairman of Monzo, insisted that he saw a huge opportunity for Monzo to become a scaled and profitable bank. But as Starling looks to āpull away from the fintech packā, time will tell if Monzo can keep up.
Kocianski thinks it can. āIt is not the end of the road for Monzo,ā she said. āYou could question how much success it has had at reinventing the wheel, but it has regrouped and thereās more to come.ā
I think thatās probably a fair summary of the Monzo / Starling debate. A bright future for both, but monzo really do need to crack the profitability problem.
Media always like to include competitors as battling it out. In reality neither really are, both of them are comfortably eeking out an existence. Even if Monzo is currently at a loss.
Itās no battle, itās 2 digital only banks just doing what they know is best for competition in the banking space.
Before I even click that link, is it from Oliver Smith? Any AltFi Monzo puff pieces or reframing of bad news into good are from Smith and anything remotely negative is often by someone else so I like to play a game of āSmith or notā to guess what the tone will beā¦
Itās basically āMonzo took the link off the homepage, they said itās not related but it probably isā some adverts, then says the same thing again.
We also get people signing up on here thinking theyāve opened a bank account. So it makes sense to separate the two to avoid confusion.
Keep the websites primary focus on getting people to sign up for an account, then secondary to that get them to become a āfanboyā by signing up here. Which is why itās promoted in the app.
