The race to THREE MILLION users 🙂

20/10/2019 - 9:30pm

before the end of play this year at somepoint!

13/11/2019 12:01PM exactly

25/10/19 4pm

10/11/2019 at 15:00

The two fintech startups have been locked in an intense race to command market share in the nascent mobile banking sector, as well as to expand overseas.

Can’t say I’ve ever felt this way from inside Monzo. Does it look that way from the outside? (Revolut)

3 Likes

November 11th at 6 pm

Hi beth,
Yes I’d say so everyone always compares monzo,starling,revolut but we all know monzos customer service is exceptional can’t say the same for revolut :sunglasses:

1 Like

People seem to be aware of the competitors, at least people in the tech industry.

However, I’ve never actually seen anyone with a Starling card and I’ve only seen a few Revolut cards, compared to at least 100 Monzo cards out in the wild.

2 Likes

04/11/2019 @ 7:10pm

There’ll be fireworks if it goes beyond that :fire::firecracker::fireworks:

They’ve never felt that comparable, tbh. And I’ve certainly not perceived them as being in competition.

I see as Revolut is a prepaid card to help with travel, as being present in loads of countries and not as a replacement for a bank account. Monzo, by contrast, is limited currently to one market, but provides a full banking service.

Others’ views will vary though, I’m sure.

3 Likes

10 October @ 19:53

1 Like

If growth continues to compound at 0.3% per day (as it roughly has done for a very long time) then 3m will be hit on 2nd Oct 2019 :nerd_face:

If you factor in compounding growth then you will be shocked at how quickly Monzo will hit 10m (if they maintain their daily growth coefficient of 0.3 it will be only a year and a half away) :exploding_head:

4 Likes

This time next week we’ll have some data around what kind of uplift we get from :tv:
We’ve got some pretty big slots by the looks of it so will be fun to measure the impact.

If it makes a big impact then honestly we could get there in just a few months.

6 Likes

I really hope it makes a big impact!

But I find it really interesting that growth is basically straight line. You can’t see (from our data at least) any specific peaks. I couldn’t pull out, for example, the first set of tube ads, or the current campaign.

Screenshot_20190521-181026

As I say, I really hope that this super charges sign ups. But part of me (slightly irrationally) thinks that Monzo growth seems to be really quite unresponsive to external factors!

1 Like

The challenge for Monzo will be that it’ll increasingly need to draw its new customers from a pool of people who aren’t early adopters, and who are more reluctant to switch to a non-traditional bank - though in its favour, there’s around a million young people coming of age each year, who are far more fluent with technology and far more likely to be tempted by Monzo.

All this would be given a massive boost, of course, once Monzo begins offering accounts in overseas markets - in which who knows how rapidly the numbers could grow?

2 Likes

I don’t think I guessed yet, but I’m gonna go September 15th :eyes:

I’m gonna go for an optimistic Monday 12th August.

Time to test the power of Bingo. :dog2:

2 Likes

I’m going to take a stab at July 29th for no real reason other than that being my birthday :joy:

The gradient on that graph is clearly increasing.

With regards to the tube ads, you can see the increase more clearly if you look at the accounts per day moving 30 day average.

Also, your x-axis is extremely zoomed out (it’s showing a two year time frame) which makes it more difficult to see the effect of tube ads since they’ve only been running for about a month. Additionally, your y-axis is also really zoomed out making it more difficult to see a change.

1 Like