I’m going to go against the trend here & say that I like this idea a lot
As a general rule, I’d expect this type of feature to be built by a third party developer but I’m going to assume that only Monzo will have access to a large enough database of customer’s transactions, for the foreseeable future so only Monzo could build it.
To address a few of the comments -
Monzo can be much smarter than simply making suggestions based on all user’s spending habits.
Obviously Monzo already knows our ages but they can also look at where we’ve spent our money in the past in terms of the types of merchant, how much we spend each month, how much on a certain category, how much we spend on average in a single transaction etc. in order to figure out what our interests are likely to be & whether the user will be looking for expensive / cheap or something in between, as an example.
Monzo has access to a unique dataset which other third parties don’t have, in particular, knowing how much we spend & not just where we go, seems very relevant.
Trip Advisor is great for recommendations but it doesn’t know our history (at the moment, I assume that it’s working on building that profile with the timeline feature).
Google is the only 3rd party that has a really detailed history of where we’ve been, unless you’re a regular user of a service like Foursquare but personally, I don’t use their recommendations when travelling abroad & although they know that I’ve been somewhere, they don’t know what I spent while in that location.
As for concerns about Monzo collecting our data, Monzo already looks after some of the most sensitive data that any tech company will be able to access, for it’s users. I’m not suggesting that it captures additional data, in order to build this feature. As long as the data is used in aggregate, I have no concerns about it being used.
It’s also worth remembering is in Monzo’s interest to build this feature because it would lead to users spending more.
Having said all that, it’s obviously going to take quite a while for Monzo to build a detailed dataset consisting of user’s transactions abroad. And I assume that this feature would be relatively complex to build (although building a bank is pretty tricky too) so I wouldn’t expect this to be built in the near term.