It is not secret at the moment that support reposes times are not what Monzo would like them to be. I decided to do a little basic maths to see if there is a problem. When I get to the answer, I feel like I am missing something obvious. Be warned, there are lots of assumptions.
At Investival it was stated there were about 670 COPs, and we know that there are over three million customers. I am going to round down the COPs to 500 to allow for time off etc.
Assumption - the average hours worked by a COP is 15 per week. Seems fair? 15 hours multiplied by 500 COPs gives 7500 working hours per week.
Assumption - the average support query takes 15 minutes to resolve (between initial messages, being passed to ‘specialists’ etc). I don’t know if COPs deal with formal complaints or not, for the purposes of this I will exclude that. Some queries will be resolved in 60 seconds, some might take 30 minutes. So we have 7500 working hours multiplied by four slots per hour (15 min resolution) - this is 30,000 support slots.
So we have three million customers and 30,000 support slots per week - which means that 1 in 100 customers use a slot EVERY WEEK. That can’t be right, surely?
- Am I missing anything which would hugely distort the above calculation?
- I seriously doubt COP numbers have been cut
- I believe COPs also do merchant rich data corrections, if so, has this been prioritised to give poor wait times for support?
- Are the COPs working on anything else?
This is not a dig at Monzo, they are doing their best and have recently had a huge influx of new customers. Just trying to figure out why so many people need support? Are people just skipping the automated system in order to speak to a human?