You’re focusing on one comment. Yes if they don’t do another raise and if the business model fails they’ll be in trouble, like all other businesses
That video was discussed yesterday. It focuses on tiny areas of the report with no context. The numbers are steadily showing great improvement and they aim to be profitable next year
Yep that is true but right now other UK banks offer everything monzo does and do have a sustainable business model and are profiting. Yes they are more established and probs had the same issue years ago when they started which is why i will keep my monzo.
I look at the numbers and it not as impressive as it is being made out to be. Long way to go for monzo.
It is not doom and gloom its just me. 1 monzo customer out of 5 million this is my take and it is not mis i formation because the info the videos and interviews i have watched is from the report and from tom.
I have been with monzo 3 years so this is not something out of the blue. The tide is not easy to turn. If it does go bust then you have to mess around claiming your money back
Again only positive praise stuff is allowed
Peace out 
No. But don’t say something that people don’t agree with an then be surprised if people say they don’t agree
Read the entire report instead of watching a video. I’m not sure what interview with Tom you’re talking about but all the ones I’ve seen he’s said he expects profitability
Not only that monzo is top of the game when it comes to the app, no need for a branch right??
Ok so if you look into other uk banks like lloyds, tsb, virgin, nationwide these all offer monzo features. Granted they are not yet exactly the same and need a little tweaking but they have caught up. Making monzo not so unique so the selling point list for monzo is not as long anymore
My issue is that every comment has been unconstructive. The video explains the whole document. I also read the whole document. The interview was insighful from tom and he basically said they should have made it more profitable sooner and they got greedy. They even made redundancy’s which i guess alot of people did through covid but they sre barely keeping the lights on.
But all thats is mis information because it is not praise.
Gonna leave it there i respect you opinions and have not said anyone is wrong but good luck to monzo
I guess.
I posted this last year. I have just amended it slightly for this year.
Is Monzo going to go bust?
No. Last year they had a balance of £175 million in capital so they could lose the same amount this year (which they did give or take) and not go bust. They raised £202 million this year so that money should tie them over for a least two-ish more years. The aim is to raise more money and try to balance the books in 2022 so I cant see Monzo going out of business any time soon.If Monzo went bust what would happen?
No UK retail consumer bank has gone completely bust for a very long time. Every UK consumer retail bank in the 2008 crash was either bought or bailed out. For example: Halifax still exists as part of Lloyds (and Lloyds bailed out), Northern Rock are part of Virgin or held by the UK Government’s ‘UK Asset Resolution’, Nationwide took in a lot of failing Building Societies, RBS is about majority owned by the taxpayer etc. In 2013 the Co-op Bank was capitalised by its hedge fund bond holders, etc., etc.But what if it did happen?
The most recent example of a UK consumer retail bank going the wrong way was Co-op Bank in 2017. In that case it was going to actually run out of money that financial year (unlike Monzo’s position). When that occured the Bank of England were well aware of its capitalisation problems, it parachuted in advisors to support the Co-op Bank who were informed to either recapitalise through its shareholders or to sell itself, otherwise the Bank of England would ‘ orderly wind down the business ’. Co-op Bank failed to sell and was recapitalised.The point I am trying to make is that the Bank of England is much more aware of banks going under in 2021 then they were in 2008. No one can say if the account would stay around or whether you could access money but based on the Co-op Bank situation Monzo would either recapitalise, be sold or orderly wound down and during that wind down you would remove your balance.
A Wirecard accountancy shambles (which cannot be predicted as well) could instantly lose access to accounts but in Monzo’s case of a liquidity crisis can be seen a mile away these days and steps put in well before it happens or to safely wind it down.
No it doesn’t. It inevitably gives one individual’s view on the document so is a source of opinion and not a source of truth.
That’s not a complaint, it’s just a reality of trying to explain something on the internet but, in order to take the content seriously, you need to also understand the level of knowledge and experience that the YouTuber has of his or her subject matter.
Thanks for that, finally a constructive response very insightful thanks
I think what most people are reacting to is the video you posted. The emotive ALL CAPS take on things fosters division rather than calm discourse.
This is one of the problems we have as a society at the moment: everything becomes polarised and you’re either one team or another. I don’t think anyone has leveled an accusation of misinformation at you: with respect it feels like you’re fighting arguments that no one has made (only praise is allowed, defending against a claim of misinformation).
On the report itself, for my part, this is part of the territory with a start-up. It’s not as good as it could be. It’s not as bad as many annual reports. I find it a bit meh to be honest.
Finally, it’s probably worth noting (as @Chapuys has) that this is the second year that similar things have happened. I’m interested in this as an investor, not a customer - personally I wouldn’t switch banks because of it. And most people probably didn’t notice last year and everything has been fine, with Monzo carving out a positive trajectory.
I agree i am not siding with anyone the video is in capitals because its youtube and everyone does this on the thumnail to get people to actually click and watch (clickbait) but it explains the numbers and statements that is all.
There are more positives in the 2021 annual report than negatives. Big positives too. You can see there’s a huge amount of work been done and still being done.
It’s like getting a supertanker around an island. You have to plan a direction change miles in advance to not hit it. Then once you slowly start to move off course to avoid it, that’s the direction you’re going in for quite some time.
Planning, planning, planning. Make a plan, believe in it. Stick to it regardless.
I believe Monzo has demonstrated this in the last 12 months. Very encouraging in a historically difficult time.
This is true, if i was ti ask what is it that attracts you to monzo compared to to other banks who are catching up with the same app features ? What to you make monzo unique ? I feel its just bending in now as a bank as everyone is kinda doing the same thing some better then others 
Moving on from debates over videos, I’ve found this a bit anticlimactic, to be honest.
Yes, the numbers do seem to be going in the right direction. And that’s going to be a big, multi-year effort, so I’m happy with that. But in terms of product or business strategy it struck me as a bit thin. Lots of talk about business strategy, little about what that actually is.
I think I’m still hankering for greater agility, more innovation and pushing the boundaries whilst filling in core app and banking functions. I suppose I need to resign myself to Monzo never having really cracked that.
Sorry to double post, but I’m chalking this up as a part win from the 2021 predictions topic:
Hi,
Tom, I have seen the annual report and slightly concerned with Monzo’s future however, I do believe that Monzo is still to date the best mobile only bank out there and doesn’t deserve to crumble. From my understand I can also see that passion capital (Ms Burbridge) has reduced their stake in Monzo!
Now you are at Generation Home, a ‘modern’ mortgage provider I believe this would be a great opportunity to merge Monzo and GH - allowing Monzo customers direct access to Mortgages whilst allowing Monzo the ability to earn some serious dollar!
(Also, I believe I have a great idea in regards to GH - came up with it a few years back - just need a better understanding on how to get the right team around me to develop it)
C’mon Monzo - you got this!
I believe this is a result of dilution, not because they’ve divested any holdings.
Strange thing to try and ask Tom; he’s probably forgotten this place exists.
Apply for a job there would be the best start
I’m trying
Emphasis mine. Simply catching up isn’t good enough or attractive enough to make me think about moving.
I said this elsewhere a long time ago but it still stands…
It’s going to take a lot for me to switch from Monzo, not so much out of love or loyalty to them, but inertia.
I’ve been with Monzo since the beta days and before that I was with Ulster Bank for over half of my life. The reason I was with Ulster Bank in the first place is because that’s where my parents banked and then inertia kept me there.
Flash forward some years and monzo comes along and their app is leaps ahead of Ulster Bank’s app (for reference it’s pretty much a carbon copy of Natwest’s app) and that prompted me to start using them.
Monzo’s app was so far ahead that it overcame my inertia and I think it’s going to take something that is equally leaps and bounds ahead for me to switch away.
Being just as good or slightly better isn’t enough for me to consider moving.
Haven’t had a chance to read the report in full just yet but so far I’m liking what I’m seeing and things are moving in the right direction. I look forward to seeing these reports for many years to come.