Should Monzo partner with one of the Big Banks or Large Tech Institutions?

Should Monzo look deeper into the possibility of partnership with one of the big banks such as HSBC, Barclays, CITI Bank etc. The benefits of doing so would be to gain large exposure across the world as these banks are already on a global scale. Have access to a larger market share and thus increase customer count very quickly.

I feel that there are many incumbents entering the Industry now - everyone is giving fin-tech a try… Apple Card, Google are trying to start their own. and the various other fin-tech banks all over the world competing for market share. Would Monzo benefit from having a large institutional partner?

I am well aware that Monzo was started due to the failure of institutional banks to connect with customers properly and address their needs effectively however, now that the big banks are taking note of challenger banks and changing their approach - is this a good time to join together and potentially grow much faster?




I am not looking for an answer - I’m looking to debate the question. So this comment is not useful.
If you want to participate in this discussion can you explain you’re point of view?

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I don’t really see the need? I guess they’d have a whole lotta money to throw at things but Monzo have always been keen on doing things incrementally and understanding each unique market.


Monzo is already growing. Monzo is already expanding into the US.

Just because these large banks already exist doesn’t mean they have anything to offer Monzo.


Don’t ask questions then.


Nothing wrong with a bit of competition from the banks and now the big tech giants. Perhaps getting into bed with a Facebook or a Google would be a better fit. Monzo is a tech company that happens to do finance so I would imagine has more in common with other tech companies.

I for one would welcome my new Google overlords if they were tempted to pay 10X value to acquire Monzo…


Ker-ching!! :laughing:

I think a good question to ask here is what exactly would we gain from partnering with a large institution that we can’t do in-house?

It is my opinion that we can do a lot better by partnering with a lot of smaller companies to meet the needs we can’t (or won’t) do ourselves.


This is a good idea … does anyone have anything to add to this suggestion?



Monzo exists because of the failings of the mainstream banks, as do many of the fintechs.
Partnering with said mainstream banks would take away the uniqueness of the likes of Monzo etc.
This uniqueness is what attracted many to Monzo, so the answer is no, in my opinion they should keep themselves independent of mainstream banks.


No. What would Monzo gain from a partnership? Nothing that I can see. Big banks would just stop what they need from Monzo and then throw them aside. So why enter a position that can only end badly?


This is worse than the suggestion to partner with Big Banks. Two companies that are notoriously shady with how they treat customer data, who show scant regard for the people who use their ecospheres, and who would only be interested in leveraging the data and would leave the offering itself to fester?

But you’d get paid so that’s ok?

I really hope this was a tongue in cheek response, if not, it is glib, and horribly worrying!! :slight_smile:


Yes they would benefit but ultimately they’d get swallowed up and things would slow and stagnate.

What we have now, with Monzo, would become the new base standard and then won’t change for years until another round of ‘disruption’.

I’d rather the disruption kept going and not give in to a large cheque being waved in front of their nose.

Not sure it deserved quite such a terse response to be honest.

I wouldn’t die in a ditch over Monzo staying independent and would be happy to see them sold at some point. I don’t see Facebook or Google as especially evil either and am happy to use their services.


And I disagree completely and utterly on FB and Google given their track records on security and privacy (ya know, the whole dragged in front of Congress thing?).

Anyway, differing opinions is all, I just happen to feel very strongly about this issue. The day Monzo announce they’ve been bought by FB or Google is the day I close my account immediately. But, each to their own.


Terrible idea :grimacing:

Think most reasons have already been covered :+1:


I guess it depends on the basis of the relationship.

If we take Starling for instance, I think they’ve made a pretty solid offering of a banking platform while also being a competing bank themselves. I think this could turn out to be a very smart move.

On the basis of just getting exposure and customer numbers up? Probably not what Monzo would be interested in because it would need to appeal to those markets. If it appeals then Monzo could probably do it alone in a reasonable timeframe, and if it didn’t appeal then there’s no need to go down such a route. Monzo could achieve the same with an enormous advertising campaign if they wanted to. It also protects their own interests going forward.

Partnering for technology sake? Certainly a possibility here with many obvious advantages, but as previously mentioned this would need to be very carefully considered and risks having the opposite effect if the public trust level of those companies isn’t equal.

I think partnerships could be a good thing but not necessarily for the purposes described in the original post. Partnering to get the best product would have to be the aim really - numbers would come naturally.

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Devils advocate but is this not where Plus comes in (to a point)…

The question you fail to ask is what would the banks you mention get in return, in any such partnership?

Not a lot of benefit that I can immediately see.

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