Predictions for Monzo (and fintech) in 2022

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?

:one: Flex

  • Flex will roll out fully. Not everyone will be eligible, but everyone with a Monzo account will have the ability to apply.

  • There will be some marginal tinkering, but despite this some glaring oversights will remain.

:two: Paid Accounts

  • 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.

  • 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.

  • Budgeting will move to Trends. It won’t be an improvement over what’s in Summary.

  • 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!

  • 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.

:three: Customer support…

  • will still be poor. :man_shrugging:

  • … but Monzo still still score highly on satisfaction surveys and nothing will be done. :cry:

:four: Core Banking

  • :8ball: 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.

  • We’ll be able to make payments directly between pots. (This will be a missed opportunity to sort out the payments tab).

:five: 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).

:six: International Expansion

  • the US will be limping on.

  • nowhere else will get the gift of Monzo, despite me randomly screaming “Europe starting with Ireland” at infrequent intervals.

  • towards the end of the year though, assuming that Monzo is profitable, new markets will be discussed again.

:seven: Business health

  • Monzo will still have made an overall loss in the next annual report, but it will be lower.

  • Monzo will reach 6m users

  • 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.

  • :8ball: curve ball! Jonas, the last founder standing, will announce that he’s leaving Monzo.

:eight: Community and Media

  • This forum will continue to wither, with the same small number of voices dominating.

  • 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).

  • 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).

:nine: Elsewhere in banking and fintech

  • Dozens and Project Imagine will just about survive the year. Although perhaps in a very different form.

  • 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.

  • 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.

  • Tandem won’t survive the year in its current form.

  • Atom Bank and Coconut will be takeover targets.

  • Who could predict what’s happen with Curve? They’ll see out the year but be rapidly scrabbling for revenue.

  • Metro Bank will get its mojo back and end the year with a share price over £1.40.

  • 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.

  • Nutmeg will be folded into the main Chase app.

  • 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. :man_shrugging:

But that’s me done: what have I got right and what have I got wrong? And what are your predictions?


You underestimate us!

IBAN pls


Oh goodness. Of course. :rofl::rofl:


There’s no mention of Joint Accounts (features/Plusmium) in there. Or platform parity.

Still plenty to moan about.


Yes please:

  • Cheque imaging
  • IBANs
  • Something better than PayPoint
  • Merchant data

And if we’re looking for a little bonus,

  • Update the basic Monzo debit card - it’s looking dated compared with the competition now

For revenue, I think monzo will need to keep pushing the lending products, but Flex looks like a really good start.

I’m still not sure about the Plus/Premium model. There’s scope to develop Trends, Summary, and Connected Accounts but I suspect Monzo will continue to keep this stuff behind a paywall.


Also, Dark Mode options (turn on/off the tint, a true black mode option).

I could see the Monzo US card design making it over here, at least.

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You know what, I started to write about joint accounts but ended up discounting it as, sad as it is, I just don’t think it’s gonna happen. I’d love to be wrong though.

(If forced, I think we might start to see signs of development to allow for proper joint account features - but sadly I don’t see a launch for 2022. :disappointed_relieved:)


I think I’ve said this before, but Monzo has powerful incentives not to update the standard card. I think it’d prompt lots of “lost” cards, which adds up to quite a bit if the cost per card is ~£4.

That said, it’s probably inevitable (although not this year?) but Monzo would almost certainly keep very quiet about it…


If anyone fancies a poll, throw your suggestions below and I’ll put something up over the next week or so…

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Three predictions, two Monzo, one other

  • Monzo will announce a profitable run rate

  • Monzo will hit 7 million customers after a big marketing drive

  • Klarna and other buy now pay later firms will be subject to much tighter regulations


I’d love them to sort out once and for all the Payments tab. Actually finish off a project by smartening it up (lots of ideas discussed already) and make it even more useful. I bet I’m very wrong though.


I think that’s one of the things that - if it’s gripped, some deep thought applied, and adequate resources given up actually complete the thing (then iterate on the basis of real life usage) that would make a really significant difference. It’d certainly be near the top of my “want” list.

I thought about including this, especially as introducing pot-to-pot transfers would give them the opportunity to fundamentally change the tab (imagine a world where you can choose the source and destination pots/accounts - including connected accounts, manage payees and references more intuitively, have more powerful tools/triggers for moving money etc). But I suspect that those in Monzo with the imagination can’t make the case, especially when this is just foundational functionality.

It makes me sad thinking about it. :pensive:


My prediction for 2022 is they will continue to ship half finished features. I have so many small gripes with monzo now that ive lost the love for it.

It however does alot of things a little better than the competition so will continue to be my bank but the optimism that it would one day be my financial hub has wained hugely and i dont expect that to change much in 2022


We can dream though, right? :slightly_smiling_face:


Monzo already use prediction for payments in trends, they knew I was making those payments before my credit card company even knew! Very well done :clap:


I can tell ya we have an events space and we intend to use it, it’s just covid preventing us currently :frowning: I would really love to host somethings and even go speak at events :slight_smile:


Oh and I almost forgot my community prediction!

Posters will continue to find new and ingenious ways to turn any topic whatsoever into a ‘my general issues with Monzo repeated’ post.

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My personal prediction is Open Banking payments go mainstream, Amazon will switch them on to escalate the war with Mastercard and Visa, and people will use it and love it

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Here’s hoping. Did any staff indicate that this was actually in the works? It would make things a lot cleaner.

:heart: . They just need to do this ONE THING!

what have I got right and what have I got wrong?

Joint Account Parity! Goddamnit I need virtual cards tied to JA pots, and custom categories. Urgh! Even if it’s as simple as “if both people have Plus, the features are available on the Joint Acount”. Anything!


It would be nice for Monzo to close the US operations.

It would be nice for Monzo to add EUR account in the UK similar to how Starling & Revolut have them.

IBAN & SEPA would be nice.

Monzo enters mortgage lending? Maybe via a partnership? Would be nice.

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