I was thinking about Monzo’s new mission statement, and also the things that Tom has talked about regarding the marketplace. It struck me that Monzo’s real mission is to Banish Bureaucracy. Sure, there’s an adjunct mission to save you money on your liabilities and make you more money on your assets, but we’d all be doing that already if it took three taps to switch provider. The part where they recommend a particular saving to you is far and away the junior part in this equation. It’s the easy part to build. The difficult bit is defeating the bureaucracy.
So from now on I’m going to imagine that their slogan is “Slaying the Kafkaesque Bureaucracy, one Provider at a Time”