11FS interview with Tom & others regarding the recent Watchdog episode that accused Monzo of unfairly closing customer accounts.
Interesting to listen to actually, Tom looks a little pissed that he’s even got to explain himself. I can imagine just how many times he’s had to go over this!
i’ve merged your thread with an existing one on this topic
There are a lot of interesting points
Despite the condemnation on Monzo not giving a statement, Tom made it very clear that they did
95% are open and shut cases, the rest have enough question marks to justify looking at
The social media sob stories vs the reality of police reports
The implications of getting it wrong by being too lenient ie human trafficing gangs being allowed to operate for longer
Content of the video aside, I find Toms facial expressions really interesting.
Almost like he’s trying on his face for the first time and it doesn’t quite fit so he’s trying to adjust.
He comes across as really personable which is refreshing for a bank ceo.
Personally I think Tom justifies Monzo’s stance perfectly!
It’s a case of dammed if you do and damned if you don’t.
The only pity is that there wasn’t a spokesperson on the Watchdog programme.
All good as far as I’m concerned!!!
Interesting watch but I can’t help but feel that this sort of conversation needs to be a lot more accessible for the general public. ‘Fintech Insider’ is a little niche. I guess the issue is whether or not the mainstream media are interested in publishing/broadcasting Tom & Monzo’s viewpoint on this.
Edit: just to clarify what I mean - the discussion was great and really cleared everything up, but this definitely needs to be more public.
i’m not sure we can get #WhatsGoingOtchdogWatchdog trending
He is very refreshing to listen to. He articulates himself very well, and on a level that you feel like you’re his equal. Even when his answering the All Hands Q&A to over 1000 employees.
One of my highlights each week is our Q&As with our leadership team.
Now we know the circumstances (knee), he could have shut it down as he did on the podcast at the time.
He’s obviously frustrated with the treatment received by the BBC. 95% is a great stat, he should definitely take this to Watchdog. So good to see a CEO being this transparent and honest.
Just looking at the Facebook group you can small something fishy. Let’s hope they can take the percentage even higher to reduce false positives.
That’s 95% that are completely obvious, doesn’t mean the remaining 5% are false positives
True, it’s still a great number. I wonder how does this benchmark with the other banks.
My concern isn’t that other banks have a higher number of false positives, but that legacy banks have a higher number of missed criminals.
Tom defintiely looked a bit bored - though it may just be he was relaxed as if just recording audio without thinking about how it looked on the video. Everyone else sits still for the duration, but his constant movements were a bit distracting. When I switched tab to just listen without watching it was fine. But he is the CEO, it may be annoying to have to respond to negative press, but that’s part of his job. Like he says at one point, criminals are going to be trying schemes forever, and there’s only so much education you can do, but you still have to do it. Talking about these issues can only be a good thing overall.
or it might be uncomfortable to sit for long after major knee surgery, or he’s someone that can’t sit still
Maybe. It was his upper body moving through, turning away from the table and looking at the floor and grabbing his drink constantly, more like he was bored than he was trying to get comfortable. I’ve seen Tom talk a few times in real life and he can come across as convincing and well spoken but this didn’t feel like one of those times.
Just watched this. He looked really bored and disinterested. Not looking at the person he was talking to (and not just so he could face the microphone). Very awkward. He is usually better than that.
I’ve also been on this podcast/show, and it is more of a podcast focus and there happen to be some cameras on, but the atmosphere isn’t akin to how it is when you’re actively being filmed and you know the filming is the focus, rather than the audio. Does that make sense? I personally forgot there were cameras there until the video highlights of the show I did popped up on Twitter. I hadn’t met any of the people in real life before I went on the show, but the entire feel was more like a chat with friends. It’s a very relaxed environment.
The 95% figure seems a bit too convenient. Moreso that 94.89% or 96.12% say.