Banks can look at us and absolutely are looking at us and copying features. Barclays launched âfreeze your cardâ very recently, which is fine. There is a saying in ice hockey: âYouâve got to skate where the puck is goingâ. If you skate at the puck, it will have moved so far ahead by the time you get there that youâll have missed it. Banks are looking at us. We are the puck.
Heâs mentioned it multiple times but this is from here
I use Santander for my legacy banking requirements and Monzo for everyday stuff. Not even bothered to install the Santander app as I just assume itâs poor. If Monzo can snap other banks into action that can only be good all round.
As a person who doesnât know what he is talking about,
Was is too much engineering for 36k investments, even though it was for ÂŁ20 million in total?
May be they could have done questionnaire and have âMonzo crowdfunding potâ before that before crowdfunding date, and proceed from there.
I really donât think it was. The first few minutes were absolutely insane. Also it might be a feature they can use again and it also shows off their technical capabilities
I suppose Monzo could sell the tech to the crowdequity platforms, though itâs probably very specific to the rest of Monzoâs stack.
There would have been a time where a co - maybe even Monzo I donât recall - would have been proud to say that âour campaign broke Crowdcubeâ, because it sounds like good social proof.
I think they had to be this thorough since a lot of people rely on Monzo. Bringing down access to the Bank would have been a massive issue, especially for a fintech in terms of reputation, and redress.
Still canât shake the feeling that it is too much of engineering, they might reuse something for the exercise in future as @Rat_au_van said, and some good PR.
