The Monzo Mission


(Beatrice Borbon) #1

We’ve found a new way to articulate why we’re here to the world!

Here Tom shares our mission, and explains why we need one in the first place :point_down:


(Jonathon) #2

You have no idea how much I need that M to be capitalised…


#3

Thats exactly the message I hoped Monzo aimed for. Monzo has my trust completely.


(Maike Wolstenholme) #4

:clap: Read this in the Telegraph this morning.


(Paul Thomas) #5

I’m sure if Monzo can get into a place where it can pay tings like car tax, loans, etc it’ll be profitable.

Zopa style investment would be a nice feature to have. Monzo uses money in one of my pots to loan to others and they should be able to keep losses low because they have someone’s transaction history like bounced DD’s. Then the things like energy switching would be great.

My biggest fear though, is as much as I love Monzo’s view on banking, i’d be interesting to hear if there’s anything stopping another bank coming in, buying Monzo and screwing it up like pretty much every other decent business with great plans. :confused:


(Brian Peters) #6

I agree with you, Paul. All this sounds brilliant and exactly what I have been looking for. However, as we know, greed is always the main business mission, and I suspect that it won’t be long before one of the big banks looks at Monzo as a tasty morsel to gobble up and that will be that. We will all be back in the hands of the big banks. I just wish we could find a Monzo type bank that had a Cooperative/John Lewis mentality that exists for the benefit of its customers and staff and not the shareholders. No chance of that, I guess.


(Dan) #7

Monzo have actually had a few buyout offers before but declined. One was rumoured from Lloyds.

Tom, the CEO of Monzo, has made it clear Monzo are here for the long haul and want to actually complete their mission.

With regards to benefitting the shareholders, you could always invest in Monzo with their next Crowdfunding round and be a part of their success. It hasn’t been announced yet but they’ve said there will be another at some point.