After proving my infallible psychic abilities in my predictions for 2021, I’m throwing caution to the wind and giving it another go.
As last year, this is what I think could happen, not what I think should. So what is in store?
Flex
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Flex will roll out fully. Not everyone will be eligible, but everyone with a Monzo account will have the ability to apply.
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There will be some marginal tinkering, but despite this some glaring oversights will remain.
Paid Accounts
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Monzo will launch payments from pots for paid users. This will mean that direct debits and standing orders can be paid directly from a pot without doing the main account shuffle. I’m 50/50 as to whether they discontinue the current offering. Whatever they do there will be minor community controversy.
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Trends will bring in other time periods (weeks, years etc). It will still not really provide any actionable comparators or effectively segregate mandatory and discretionary spend.
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Budgeting will move to Trends. It won’t be an improvement over what’s in Summary.
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We will (finally) be able to add notes, split bills, use shared tabs and search connected accounts. We’ll also be able to Flex transactions in connected accounts. Yay!
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I said this for 2021, but I’m giving it another go (because it’s ridiculously obvious): a web interface for (at least) paid customers.
Customer support…
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…will still be poor.
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… but Monzo still still score highly on satisfaction surveys and nothing will be done.
Core Banking
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Curve ball! We’ll finally get cheque imaging. After dark mode and cheques the Community won’t know what to moan about. -
A master feed will appear, as if by magic. A little like the Trends account selector it’ll let you see transactions for multiple pots / connected accounts in one place.
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We’ll be able to make payments directly between pots. (This will be a missed opportunity to sort out the payments tab).
New products
- Monzo will integrate with a stock broker (50/50 on this being Freetrade) to offer passive funds and crypto (I’ll roll my eyes at the latter).
International Expansion
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the US will be limping on.
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nowhere else will get the gift of Monzo, despite me randomly screaming “Europe starting with Ireland” at infrequent intervals.
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towards the end of the year though, assuming that Monzo is profitable, new markets will be discussed again.
Business health
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Monzo will still have made an overall loss in the next annual report, but it will be lower.
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Monzo will reach 6m users
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the FCA probe will either result in a small fine and slap on the wrist - or become an existential issue with Monzo acquired at a knock down price.
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curve ball! Jonas, the last founder standing, will announce that he’s leaving Monzo.
Community and Media
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This forum will continue to wither, with the same small number of voices dominating.
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The CEO will continue his media shyness. He won’t post on here. Nor will anyone else from the C Suite (except perhaps Jonas if he does leave).
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There won’t be any UK Community events. (An outside chance of doing a one off something, virtually or in person, if the pandemic eases up by the summer).
Elsewhere in banking and fintech
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Dozens and Project Imagine will just about survive the year. Although perhaps in a very different form.
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Starling won’t release a credit card. They’ll focus on mortgage lending and on resembling a high street bank without branches. They’ll hype their pending floatation, but there will be bumps in the road due to defaults on the covid loans they issued.
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Revolut will get a UK banking licence, but might have to make significant concessions (including ring fencing its UK operations with an independent CEO and Board) to keep it. It’ll throw a load of money at attracting new customers, but the effect will be marginal.
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Tandem won’t survive the year in its current form.
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Atom Bank and Coconut will be takeover targets.
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Who could predict what’s happen with Curve? They’ll see out the year but be rapidly scrabbling for revenue.
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Metro Bank will get its mojo back and end the year with a share price over £1.40.
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Chase will launch direct debits and standing orders. It’ll extend its cashback offer so it covers Christmas 2022. It won’t make as big a dent in the market as it has hoped, but will continue to throw money at it.
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Nutmeg will be folded into the main Chase app.
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Freetrade will launch in Europe. It will launch crypto trading (and I’ll roll my eyes again). Its momentum will slip as we move into a higher interest rate environment. If it integrates with Monzo it’ll take both firms to a new high (and set the stage for an eventual merger).
Reading this back, it feels like there’s a lot for Monzo to do. I know they’ve been getting better at shipping recently, but I worry that they just won’t get through all of this.
But that’s me done: what have I got right and what have I got wrong? And what are your predictions?
)
I would really love to host somethings and even go speak at events 
. They just need to do this ONE THING!