If Monzo has lost Revels, then something has badly gone wrong.
I shall shortly resume my vow of silence but I’m here to ask Monzo to reflect on two things:
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whether the savings team truly understands the wider product and how customers use it to manage their money. With respect, the evidence suggests to me that they don’t.
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how to engage with the community. Again, with the utmost of respect, closing topics to curate the discussion is not a good look. And nor is broadcasting marketing messages instead of an authentic dialogue that explains the considerations at play, preferably from the responsible product person.
Monzo has set itself high standards. It remains a market-leading product. But it risks getting carried away by its own hubris. What Monzo does next on this will be a defining moment for the company: will it double down or will it refind its humility?