See your credit score in MonzošŸ“Š

Yes this is quite disappointing to be honest. The other fintech apps I use (Revolut, Snoop) have both had multiple useful new features over the last few months.

I have been waiting for a really long time for Monzo to release the connected bank accounts feature. My hope is although they are taking their sweet time, it will be worth it when it is finally released. It would be really frustrating if they took so long and it also ends up being quite basic / unpolished when it does come out (ie not superior to other fintechsā€™ implementations of this)

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Not this again :confused:

Iā€™m sure Monzo will release a bunch of stuff soon, then you can go on the other banks forums and tell them that theyā€™re behind :yawning_face:

Itā€™s just the way it works. Competition causes businesses to excel, others catch up then someone else takes the lead. Rinse and repeat.

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I think you are being harsh here. We are in the middle of a global pandemic with a large proportion of the workforce furloughed. Throughout that period Monzo have kept running with no downtime in service. Have you had problems accessing your money or making payments? Has your app stopped working? Do you still continue to benefit from Monzoā€™s Get Paid Early feature? Do you still have access to Monzoā€™s summary/budgeting features?

During the last few months Monzo have upgraded how they use the BACS system which does not sound like a quick/simple change. Grey payments - #48 by erincandescent

Seeing a credit score within an app is not essential and neither is being able to see other accounts. Iā€™m sure when things return to normal Monzo will release new features but until then I would be satisfied with the fact that they still successfully do what they are supposed to do - provide a modern banking service.

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Not sure what you are saying - that we are supposed to be grateful that our bank didnā€™t break?

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One of the points I was making is that despite the significant reduction in staff, service was able to continue without any negative impact on the customer.

However the main point I was making is that priority should be given to keeping things running rather than devoting resources to new features.

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I think that is an extremely basic expectation.

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Correct. Thatā€™s what any sensible organisation does in those circumstances.

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I think the point being made was that other companies faced those same circumstances and still released features.

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Iā€™ve said several times that monzo need to be a better bank* and getting the fundamentals right - with projects such as this - is absolutely worth doing.

If the Wirecard debacle has taught us anything, itā€™s that monzo are right to reduce their dependence on 3rd parties.

That said, Iā€™m inclined to agree the pace of development has slowed down in the last 12 months, and monzo now have some catching up to do with the competition.

* a bank you can depend on not to freeze your account or block legitimate transactions, a bank where your sort code doesnā€™t get rejected by shops/suppliers, a bank where you can pay in cash or cheques easily, a bank you can get in touch with easilyā€¦ a bank where you donā€™t also have to keep an account with a ā€œlegacyā€ bank just in case

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Exactly this.

Monzo arenā€™t in a bubble. If you arenā€™t innovating and releasing features, youā€™re going backwards.

I forgot to add Lumio and Snoop. Both apps that have been super productive and releasing new features during lockdown.

To me it seems Monzo have managed this period poorly. Itā€™s not wrong to make comparisons. Itā€™s also possible to be a supporter or Monzo but critical of aspects. Not everything has to be an absolute opinion.

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I think quarterly reviews would maybe be a good idea.

Im sure the teams do sprint retros of some sorts. You can make processes better unless you review the pros and cons.

Maybe this is something @AlanDoe you could incorporate back into the community? Used to love the monthly updates and i think there was quarterly updates also? The previous quarter in review kind of updates would be a happy medium i think.

I know now that the bank is bigger and there is more red tape etc. but i think it would be a good exercise to put something out there. Things like the BACS change could also be highlighted in things like this where its not wholly obvious what benefit this has to monzo/users.

At one point they were publishing goals but guess those days are gone sadly

Do you think it would be wise to launch features when a lot if COps were on furlough?
Every new thing sees a spike in waiting times. If you introduce them when times are longer due to less COps available it wouldnā€™t be good

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Yes I do.

Nearly every other business has handled this by simply explaining that wait times may be longer. That has been widely accepted by users.

Think apart from Revolut all the companies you mentioned are account aggregators so fast customer service isnā€™t really an issue if something isnā€™t working. You donā€™t want to wait days for an initial reply with your bank

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Iā€™ll add Chip and Freetrade to those companies I have experience of too, during lockdown. Replies havenā€™t been affected, they proactively explained there may be delays, and have released new features.

You have your opinion, but you should consider that perhaps the management team have been too conservative during this period or had poor management in place.

Sure, itā€™s a possibility but thereā€™s no evidence either way at the moment. If itā€™s being too conservative or poor management then itā€™ll be months til anything new is announced. However it could be that theyā€™ve used the time to firm up existing processes like the work on BACS and international payments which will be beneficial in the long term

ITā€™S ALL STARTING TO COME TOGETHER NOW!

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Monzo have even stopped updating their shareholders of developments on a regular basis - the Loop investor email is now only annual.

Thatā€™s very poor for a firm which has so many crowdfunding investors.

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Personally, I think bolstering their current offering (better customer service, having a telephone number that actually works, better cheque processing and as previously mentioned being a bank you can depend on) should be more of a priority than adding new features. Monzo are failing in some basic areas.

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