Now that we have the ability to save in jars and IFTTT-initiated actions have been successfully implemented, it would be great to have the following:
If type of jar is Trip, then set set next attributes to
a) budget and timeframe
b) origin and destination based on airport codes
c) check price for specified route using timeframe against a site like Expedia, google flights or similar
d) alert user if it is within or close to budget (e.g.10% margin)
This would allow users an opportunity to grab cheapest fares and match these to budgets saved in jars. The same principle could be applied to other types of purchase e.g. car by checking prices against car supermarket sites. Same for house utilities by checking billing data against supplier offerings.
Totally agree the the first bit of setting a budget and timeframe to pots, I’ve mentioned a similar desire in another thread.
As for the flight checking I think that’s a step to far, we want a really good bank/financial services app, not a jack of all trades app.
What if you have a pot for a new camera, is the app to pull in information to compare and contrast reviews for said camera and find you the best deal. And then I have a pot for a new car as well, etc…
I understand your point of view, there are perhaps other things that it should do as a priority. However, Why not contemplate both? Banks sit on a mountain of data already, which we readily give without much in return for our own benefit. The emerging banks and fintechs don’t have to stick to old business models. The trend is for them to become members of and provide access to market places. Bud and Starling, with Revolut soon joining them are already tapping into that space. Your analogy of a camera actually crossed my mind, or a games console or something that could be matched against a site like kelkoo or amazon/eBay, it’s already possible to do it via APIs. Monzo needs to carve a niche of its own, yes doesn’t need to stray too far from its core business model but it can achieve this with alliances and partnerships. Imagine the power of bulk buying and crowd sourcing and what that can do to big purchases like a car. if Monzo becomes like just any other bank, then what’s in it for us consumers? Their model can and will be easily replicated by the new and legacy banks so it must tread a path of differentiation towards others. Otherwise in the long run it will become no better than the rest and then what’s the incentive to stay ? We as a consumers also need to think beyond the traditional confines of financial services and banking in particular the old model isn’t sustainable any more. Going to just one place to get the best deals is probably the holy grail but if we have at least a way of making the information we give work tonoir one advantage then that’s when real impact to our lives occurs.