I think what they mean is that most people won’t bother to go to Companies House website search for a particular company, Scroll through other official documents and find Annual Report to download and read.
It’s about making it visible and having it more conveniently available for access.
Kudos for the transparency! Some headlines and comments on Twitter make me laugh, to be honest. Monzo is still fairly new in the game. Does anyone know when is the Marketplace meant to be release? That could change things. I do think that at some stage to reach profitability they will have to “add” a Plus account with a monthly fee.
I really hope the Marketplace is coming in the next few months, been waiting a while now.
This is the only thing that keeps my Nationwide Plus account open as I have the phone and travel insurance there, I need to pay in my salary there to keep it that way and then move the majority to Monzo.
considering this is a report for the year to Feb 2018 when prepaid cards didn’t end until April 2018 and there were “only” 110,000 ish CA users, am I to early to say I cant wait for next years report when figures will be available for 1,000,000 +++ current account users
If you have a FlexPlus (paid for) account I don’t believe there is a requirement to have your salary paid into it.
Unless Nationwide have changed their policy since I had one, you can simply have a standing order pay in £13 per month and let them take the monthly fee. Of course, as the account pays interest, if you’re able to leave up to £2500 savings in the account you’ll pay less for the benefits, because the interest earned will offset the fee.
But you should be able to have your salary paid into Monzo and use that as your main account.
A) I expect there’s not that many people like us but B) I don’t think so anyway -
We see that £10 as an investment that lets us provide an effective, delightful service that’s reflected in a Net Promoter Score of almost +80.
I interpret that as Monzo taking a similar attitude to Slack & viewing support as a marketing cost. As Tom says, it’s resulted in that great NPS that’s led to so many referrals. But also, having the opportunity to delight users means they talk about it & promote Monzo on social media
Times published an article on the back of Monzo’s Annual report (It’s behind paywall but free signup can give you access to, I think 2 articles a week)
This article is bit cringeworthy. I guess as a long-term Monzo follower I know more than the journalist who wrote this but just to give you a flavour here are some bizarre quotes from this.
The three-year-old company, known for its bright orange cards,…
It’s not bright orange
…It also offers a spending management app.
It implies like there is a separate app.
Monzo is one of the most high-profile fintech companies to emerge in the UK along with rivals such as Revolut, which is pursuing a business model based on avoiding applying for an actual banking licence.
Didn’t mention Starling and Revolut has been pursuing banking licence in Lithuania and US
Nothing to do with the content of the Annual Report, but in terms of the publication format (HTML), I think it’s interesting to see that Monzo’s approach is exactly what the Government Digital Service advocates (and I think they have a pretty decent approach to design):