Borne from the most recent query I replied to, there’s rather interesting tracking going on with Monzo e-mails recently:
Excessive, much? Reviewing the headers and HTML code, they’re mainly the hidden open pixels and some click tracking and hidden divs. These are not even marketing e-mails, they’re transactional! So I have to wonder why they’re included on these ones.
Interestingly, analysing these, Monzo appears to use Braze (AKA ‘Appboy’) for their tracking (ahem: profiling) of customers. It looks like others use Braze and have come a cropper, too!
They seem relatively good with security, and at least they appear to be a financially stable company, utilising AI at pace, I guess…
In Monzo’s Privacy Policy (v2.1 17/02/2026)
Monzo say:
“We don’t allow third parties whose AI systems or models we use to use your personal data for their own training purposes”
Oh, really? Well that’s very reassuring to know.
It’s interesting that, when receiving the e-mail, Monzo and Braze see you’ve opened it, when you click a link it’s Monzo (clicks.monzo.com) that sees this and when you load ANY of the colourful images in Monzo e-mails, that’s Braze (cdn.braze.eu) who then get to see your device info, IP, location and CDN logs.
The Monzo.com domain is also somewhat interesting:
Good luck with Faceache and Snapchat. I don’t have those. Actually, good luck with Bing.com and Google, as I don’t use those either. I’m surprised TikTok isn’t on the list, but then given how interconnected the trackers are, how they’re collated and ‘talk’ to each other, I guess you wouldn’t need that and can infer from the networked cross site tracking.
Open Banking, that I spoke about before, can ‘do one’, too…
I also reference in that post the decisions and risk profiles, so it’s equally interesting to know what Monzo can see and, more important, the special category data processing:
When you combine all of this data and add AI into the mix…:
… you start to understand the implications on automated decisions and manual reviews. Will AI predict risk? If you’re a journalist or political activist, are you less favourable? Does it depend on political lean? Will it pick up information from public records, such as court attendance? Will decisions be based on your religion or beliefs and lifestyle from your Faceache account? If you get an account, will it be a more or less favourable rate offered? Or will you be subject to additional monitoring?
Monzo: Guys, if you and your mate Appboy want to take me on a date and get my inside leg measurement, you only have to ask… it will always be a polite declinature (with love) just to manage your expectations 
.
By all means track me in your app and even your website - but e-mails? You can get lost. Good luck anyway. May the odds be ever in your favour…
