Monzo Priorities

(NM) #110

I think its business culture thing, if you’re casual in business there’s nothing wrong with that. If people don’t take advantage. An example of this was I was getting something made and the guy I was paying was chill and relaxed. But the person below him was on holiday etc. so his work ended up being hugely behind to the point I ended up talking to a manager who knew to prompt him(as a friend rather than customer). I feel there’s an element of that at Monzo that occasionally there needs to be a push of a deadline or something said so people realise actually there is a deadline in 3 months.Pushing stuff back is just poor personal and business admin. In life you should deliver on time as much as possible or at least only push it back once. Giving a timeline and a timescale gives accountability, a lack of timeline allows you to push back. If anything maybe it shows a lack of confidence.

(Myles Carey) #111

+1 - Totally agree on this one.

A while ago, when Monzo announced they were doing Business Accounts, I made the point on this forum that I hoped they didn’t lose sight of personal accounts. Maybe this is a case of taking on too much at once?

(Nathan) #112

Made a very similar point also myself.

There are so many things that need polished on the CA side of things. Similar to the “technical debt” mentioned about code refactoring i feel like there are alot of the things are half baked or need revamped because so much is changing so quickly at monzo.

(NM) #113

I don’t think its taking on too much at once. I think its more a lack of communication and good delegating. At the moment I believe the development is team based(i think spilt down Android and IOS). You need good communication between the groups so that for example, cheque paying would probably be very useful if you are a business but also personal Accounts. But also there are elements of a business account that fit with a family account.(if they were to develop one). Its important to keep communicating(from Data Analysis) so that the scaling team knows whether they need more savings accounts for example. Delegating is also important all the way through the organisation. This I think was seen in some of the COps handovers that weren’t being done correctly(don’t quote me on this, any of the coral crew can correct this if they would like). The information should move laterally as well as vertically, basically everyone should be aware of what the deadlines are and when they will completed.Then to to the customer you can say we will be ready in X.( I use the trick of saying depending on the work that it will take a week for example when really it takes 3 days, it makes me look like I’m over-performing when I’m not).
I think the technical debt is from the idea that the customer will lose interest if you don’t create a feature every month or so. I disagree, I’ve played a lot of MOBAS and got accustomed to a new champion or new feature every 3 months maybe. But that champion goes through testing etc. But in that 3 months you can fix an coding or revamping issues. It comes down to a decision of half baked vs baked.Half baked is fine with like Cookie dough but half baked cakes not so much…


I guess it is just down to preference then.
Bank details for all your accounts are always a click away, by on your account icon, which opens the switcher screen. I find the monzo app too cluttered

(Stephen Lang) #115

Thanks for the tip!

(Myles Carey) #116

I wonder how much of this has been influenced by the new Non Exec member of the board.

Not saying he has or hasn’t been - but feel it’s a point I can bring up

(NM) #117

What do you mean? I know Tom set ambitious goals of doubling their revenue.(They’re still a loss making entity). I know through speaking to people that the feature concept has been around forever before the new Non Exec, if anything i would hope he’d slow it down

(Jolin) #118

I imagine the pressure is coming more from the institutional investors, and part of the role of the new board member is to get Monzo into a profit-making situation.


I think this pressure explains quite a lot of what is going on at the moment


But surely they’d want Monzo to become a force in the market? Not offering a second rate product to everybody else.

(Splodf) #121

You’ll likely find that institutional investors very rarely care about anything other then the number at the bottom of the balance sheet.


It doesn’t scream very ‘Bank of the Future’ though.

(Nathan) #123

Banks that dont make profit wont be around for the future :man_shrugging:

I agree though possibly being a bit too agressive looking for that overall profit at the expense of providing the best service possible

(Splodf) #124

Institutional investors don’t work for Monzo. They couldn’t care less if they’re the bank of the future. I’ll repeat it again so it sticks.

They’re only interested in the number at the bottom of the balance sheet. A bet on potential profit. They don’t care how you do it.


This post was flagged by the community and is temporarily hidden.

(Splodf) #126

It’s not condescending to repeat yourself to an agenda-driven individual who is choosing not to listen.

Back on topic.

(Sarcasm is the finest form of wit.) #127

Hey, the mute function here is GREAT!

Always entertaining to see two gentle trolls, gently trolling each other but yawn. Ciao!

(Stephen Brinda) #129

Just wondering if Monzo is such a terrible bank your still here? If it’s as bad as you say it is. There are other worse banks🤔 to moan about.

(Stephen Brinda) #131

Of course, but personally I think moaning about something I can’t change or care is about as useful as a handle on a snowball!

I’d just rather enjoy life being a happy chap…only live once…blah, blah