What should be on the new CEO's to do list?

This is a wish list from a user experience perspective:

-A clear roadmap of work to be done, like we used to have with the monthly emails
-International transfers/IBAN finally worked on
-Increase limit customer flow automated/sped up
-A better solution for cash/cheque payments in
-Merchant data, merchant data :grin:

Profitability and expansion I’d imagine. I’d honestly just like to see more of what Monzo have been doing :thinking:.


Sure! I’m just saying this from a user experience perspective.

  • Avoid the Monzo community forum completely

God I wish I could. It’s like self-flagellation.


Isn’t this why Tom changed roles? The CEO doesn’t have time for all that. They leave that to the product teams

Hopefully now Tom will have time to do the overseeing


To try to strike a better balance between profitability and improving the user experience (and expansion).

Pretty much in some respects. Though it’s still the CEOs job to make sure the company is heading in the right direction. CEO is reasonable for the companies direction, deciding it’s long term goals, making the company decisions etc. President is usually responsible for ensuring the goals of the CEO are executed.

I wonder if Tom will take a COO position?

As for what the CEO will do. Perhaps we’ll see some of that US expansion come to fruition, better business account focus and more extensive lending options and improved business account features.

Any area which will aid in driving improved revenue income.

Oh and close the forum and stop listening to us arm chair CEOs :smile:

Once you become president of a company, your chief days are over.

Agree with closing the forum. It serves no purpose then people bitching and complaining because a feature wasn’t implemented. The days of Monzo interacting with the community are long gone.


It depends on the structure I suppose, COO and president are sometimes the same person as they usual perform a very similar role, both under the CEO, both in many cases do the same role, managing the operations of the company. But they could be separate if for example Monzo president isn’t going to be managing the businesses operations. That’s why I wondered if he’d be taking the COO role as president.

I wouldn’t. The forum has a value to its members beyond being all things Monzo. The moaning is part of the purpose - a place to vent and applaud and get excited and frustrated…

But disconnecting it from Monzo’s operational thinking - ceasing to regard it as a primary source of ideas. Definitely. Like you say…

I think that’s true in any effective developmental sense.


I think stepping down/moving into the President position is about getting away from operational / regulatory issues. Taking on the COO position would mean jumping right back in the fire.

From a user experience perspective improving the speed of customer support has to be top of the list, I would say.

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I would have thought profitability, investors won’t keep pushing money into something if it doesn’t return a profit. You can have the best whatever but if you don’t make money then eventually the wheels will fall off.

The forum is both a blessing and a curse but shutting it down will make it like every other bank out there. To me, personally, it is what sets it apart


Dark mode :sweat_smile:


But then where would people come to complain about Monzo freezing/blocking their accounts or stealing their money?

Where would people get expert advice on how to operate their washing machines? Or find out what time their local off licence opens?

And most importantly, who would Monzo use as Tier 1 support?


Or which frying pan to buy … :flushed:

Number one on the new CEOs to-do list: Get Monzo monetised and cash generative.

People with a good income, good credit score and low credit utilisation should be able to see some form of decent sized offer for an overdraft, loan and credit card. If it is overpriced that is fine (let the user decide that), but let there be some kind of offer to most people instead of the current hugely over-cautious / coin flip approach which looks like it was broken at launch and never fixed.

As much as I dislike everything about the incumbents, you could take any one of their lending teams, transplant them into Monzo and they would be generating hundreds of millions in income from 4m users, yet Monzo’s lending team hasn’t got a penny to scratch their arse with after a couple of years of ‘iterating’ their approach.

Once the revenue is flowing then they can experiment with marketplaces, open banking etc. if that’s where they want to go.

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It was iterated and fixed after launch, then once the Covid-19 mess hit it got dialed right back down again in order to reduce potential exposure to bad debt.

Again, events have overtaken this statement. Banks are expecting huge amounts of bad debt as a result of Covid-19 and the recession. Several have reported profits being wiped out.

Potentially Monzo’s cautious lending approach has been very helpful in limiting exposure to losing money to bad debt.


Interesting points - and I always love a good Shakespeare quote, don’t you ? :rofl:

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