We've hit 800,000 users!

Also, here’s my cat gif

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So Monzo opened an average of 2,273 accounts per day between 700,000 and 800,000…

That is crazy!

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@nickh It really is crazy.

I also find it madness that in the UK, it’s near 1 in every 82 people have a Monzo account…
65.64 million / 800000

Considering thats with none/little advertising, and already with a brand that you can just say “monzo” to most people and they instantly know it’s a bank.

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It’ll be a bigger madness when it’s 1 in 8 in a few years time*

*If 15% of all new UK accounts are Monzo then this is more than 1 in 8 right now so they should move towards this figure over time.

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That’s an interesting thought. I was musing elsewhere about whether Monzo has caused the total number of new account openings in the UK to go up (which might imply that more Monzo accounts are being used as secondary accounts) or whether size of the pie has stayed the same:

In either case, it’s still a massive achievement. Well done the team! :monzo:

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I think in lots of places that’s true. But - for now - there are still lots of folk who still haven’t heard about Monzo. :cry:

What I find particularly impressive, though, is that Monzo has been “verbed” super fast. It’s not uncommon for folk to talk about monzoing cash over, or asking someone to monzo them!

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I’m not sure I’d get the reaction I was hoping if I asked someone to “Monzo” me…

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It beats my Dad saying “ping me some money”, it never fails but to frustrate me ! ha

I suppose it depends on what you were hoping for…

:zipper_mouth_face::smirk:

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This is fantastic news!
Looking goood :sunglasses::monzo:

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My friends and I sat that a lot, it’s somehow just become a thing.

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Interesting, isn’t it?

I can’t imagine anyone asking someone to Mondo them in the same way - is it a side effect of the name change or am I so used to the current name?

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Linguistically I find “Monzo” a more pleasant word to say than “Mondo”. Feels more natural as a verb, for some reason.

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I think you’re onto something there… What an amazing (unintended?) result of the name change!

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It’s weird how my (and I imagine by extension our) brain(s) have some bias for familiarity.

I remember when the new name was announced, I was actually pretty disappointed - I didn’t think it had the same ring as Mondo and was worried the new name would hurt the perception of the brand. I thought Monzo sounded a bit dopey or silly.

I’m so used to Monzo now - and I dont feel it sounds silly at all. I now actually feel like Mondo sounds really unusual and kinda silly :laughing:. My perception on how the name feels has totally changed. Strange how that happens.

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“S” and “Z” sounds are generally associated in our brains with things that are quite smooth or sweet. The word “sensual” for example, is almost onomatopoeic, you almost feel the meaning of it when you say it.

“D” by contrast, is quite harsh. In a positive sense, you can use it ways that denote something strong and absolute - think “He was a DECENT man” or when you’re angry you might say “Damn it!” with a strong emphasis on the first letter, or think of words like “Danger” or “Data”. All quite strong, absolute words with a level of gravitas to them.

There’s a psychological effect to the construct of words and how we feel when we say them. It’s obviously hard to say for sure, but I suspect “Mondo” would have been less likely to be used as a verb.

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Agree. Was thinking about this just now and thought that Mondo is probably a better noun - as you say it is strong and absolute, words that you might want to associate with your bank.

But Monzo is the better word. It can be verbified (sic) and I love your onomatopoeic point - and really reflects the values that Monzo is known for.

This might be a stretch, but Mondo feels more bank, Monzo more empathetic tech - our previous discussions about current start-ups having different approaches refers!

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Tom approves of the cat GIF party.

Just putting that out there :grinning:

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Better start preparing the best GIFs for when we hit a million :wink:

@BethS you have many cat friends. You should start filming them for potential unique GIFs :tada:

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@simonb If you can find any monzo cat capes, ill ensure you can get some custom Cat Gifs of my 4 dancing around for the 1 mill mark…

image

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