Yeah I agree, I don’t think a lot of Monzo customers understand what it’s really up to! Certainly friends outside of Financial Services who use it (and have invested in it) aren’t aware, but do understand that it’s cool and has very high potential.
Customers are loyal, so it’s likely to hurt them only to an extent. It’s going to get very competitive with foreign start-ups aiming to launch in the UK like N26, Raisin etc.
That’s why Freetrade looks so good right now, without major fintech competition!
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