📰 Monzo? It might just be the future of banking - The Guardian


Another story about Monzo in this mornings press but no new information. Just looks like a spreading the news type article.


Anyone without a smartphone (and even most of those with one) and anyone over 40 years old is likely to be unaware of the Monzo phenomenon.

Really. :roll_eyes:


Not the first time age has come up as an issue in the forum. I don’t know a single pensioner that doesn’t use a smartphone. Does anyone have reliable statistics about age and smartphone usage?


almost cult-like

That’s almost accurate :joy:


I never normally read the comments section but this:


Monzo losing money, maybe customers too

It’s just a soundbite from a lazy journalist, you can’t really expect much more from most journalists these days. Surprising from the Guardian though, their involvement with Snowden et al was reminiscent of the old days of real investigative journalism.

(Marta) #7

Yeah, should be just ‘cult-like’, I think we’re past the ‘almost’ moment. :smiley: :joy:


I was trying to be PC. Didn’t want any of the cult bombarding me with comments :grinning:

(Alex Sherwood) #9

I’d recommend checking out the comments on this story (190 & counting :eyes:) , if you’re curious to see the typical reaction from a ‘normal’ non-user.

It’s a mixed bag, with a lot of people not getting it (yet :crossed_fingers:) but it’s good to see why people are using it & what people are overlooking..


I think you might need some re-education… here, drink this kool-aid

(Sacha) #11

More publicity, which is no bad thing. It’s a bit patronising implying you have to be young to want it, but probably no different to the links of Facebook where the initial buzz was created by young consumers before it broadened out.


A bit different. Facebook was initially only available to students at universities where, generally speaking, the audience is younger.


Love the closibg statement, cause deep down we all know that is exactly what is going to happen!

Or we may be genuinely seeing the new face of banking.

(Tony) #14

Stereotypical view of the old by the reporter. At 71 am waiting for a Monzo CA, already using Starling and have been an early adopter since the 70s. Delighted to discover I’m now a cult member.


Good insight into why people might be sceptical about Monzo but I’m surprised at the number of comments about how Monzo are making losses in early stages. Feels like an investors chronicle article that has got incumbent bank income investors all riled up that there is no yield on this one,

This is not a bank with billions of pounds on a balance sheet like all the rest, it is a psd2 cult funded by venture capitalists. Growth is king, not cash.


Personally, I feel The Guardian’s journalism has gone down hill since Alan Rusbridger left as Editor. They seem more like a liberal tabloid at times.

(Hugh) #17

In fairness this guy makes a very, very good point.

(Alex Sherwood) #18

Equifax got hacked because their security is archaic. There’s plenty of bigger companies - Facebook, Google etc. that have not had breaches that’re anyway near as big as Equifax’s, relative to the amount of data that they hold.

To be clear, please don’t reply to this with examples of Facebook / Google data breaches, unless the majority of their user’s data was compromised..

(Hugh) #19

Maybe. But we (infosec people) have to be concerned when a company is holding large amounts of very personal data, no matter how modern they think their security is.

(Max Walker) #20

I’d guess that their systems are probably of a similar age to what most of the legacy banks are running at their core, designed in a time where the security threats like this weren’t as prevalent.

Which is why I like monzo, they don’t even hold my gender whereas last time I went to open a current account with a legacy bank they wanted things like whether I rent or own my house and lots of other questions that are entirely irrelevant to my current account (I guess so they can sell me things), but still vulnerable to misuse.