Breton Towler’s Post

Let's face it; getting a message from the bank isn't the most exciting - even if Monzo Bank's emoji game is pretty strong. Plus, it doesn't help if the messages are boring and full of finance jargon... Or if our online statement fills us with dread (the post-bank holiday scaries hit hard this week). 🥵 Our Banking Communications study shows there's a mismatch between the info consumers receive from banks and what they want to learn more about. Potentially due to the ongoing cost of living crisis, there's a common theme that people want to understand how to get the most out of their savings and the support available to them. Investment was the area people were most interested in learning more about. 🤨📈 We also explored: 🧠 Gaps in consumers' financial know-how 💡 Recall of recent banking communications ⚙️ Features they want to learn more about 🎓 Topics they want to learn about So, banks looking to ✨earn the interest✨ of today's consumer - look no further than this Board for excellent returns 🤑: https://lnkd.in/e7DmjvsF #AppinioUK

What does it take to be a leader in #cloudnative banking? 💸 In the newest Giant Conversations episode, Miles Bryant from Monzo Bank shares the secrets behind their impressive Kubernetes-powered operation. From the challenges of being an early adopter to the massive scale they operate at today, Miles paints a fascinating picture of Monzo’s journey.

We’re serious about making sure banking in NZ is competitive - that’s why we’re giving Kiwibank access to more capital to compete with the big four Australian banks. Giving Kiwibank access to more capital, would mean giving it a little bit more muscle against the big four Australian-owned banks. This would mean more choice, better services, and greater likelihood of interest rates coming down for all bank customers.

On June 3, 2024, Monzo unexpectedly closed Tommy's account with $346 in it. After transferring money, they claimed a refund would take until June 17. Unacceptable delay! Watch out for similar issues. We invite you to share your valuable bank experiences, just like them, and become a member of the BankQuality community. Monzo Bank #bankingproblems #monzo #customerservice #accountclosure #refundissues #bankingtroubles #unexpectedclosure #bankingexperience #customercomplaints #monzobank #bankingfrustration #accountissues #delayedrefund #moneyproblems #bankingconcerns

💡 Rethinking Banking: The Power of Money Pots💡 I often wonder why high street banks haven't adopted the facility to create ‘pots’ of money. Since I started using Monzo, I’ve noticed a significant improvement in how I manage my finances. The ability to lock away money in a pot to curb impulsive spending is truly groundbreaking! For anyone navigating financial management, especially those of us living with impulsivity, time blindness and memory issues, this feature offers a practical solution to a challenge I’ve faced my entire life. That said, it's essential to ensure that any banking service is financially right for you; I don’t take responsibility if things don't go as planned! Here’s to finding innovative ways to take control of our finances! 💪💰 #FinancialLiteracy #Monzo #ADHDAwareness #PersonalFinance https://lnkd.in/e8QYg_hH

Props to Monzo Bank! 👏 This is Monzo’s first above-the-line campaign in five years and it delivers. Everyone talks about money, but we never talk about how money makes us feel. Monzo have flipped the switch on traditional Banking adverts (there are no horses galloping on the beach!) and has produced a dramatic, fast-paced film to show all the negative stresses, and the positive rewards, that money brings. I just love it! What do you think? #abovethelinemarketing #marketing #monzobank #innovation #disruptors https://lnkd.in/g35Zd9PS

I like what we're hearing from the Government in response to the Commerce Commission's report on Banking competition. ✅ KiwiBank needs to be stronger and capitalised to be more competitive. ✅ KiwiSaver funds might be able to invest in KiwiBank. I would suggest other sources of domestic institutional capital too: ACC, iwi, NZ Super Fund (yes, two of those have been there before. Having the opportunity to trade shares, even if only domestically, might bring them back). ✅ Open Banking (which we are years behind on) and other initiatives might make switching banks and using multiple banks easier. ✅ Greater transparency for mortgage advisors and simplifying comparison of different loans and products might help people get better deals. The devil will naturally be in the detail but this initial response from Nicola Willis and Andrew Bayly looks spot on. What do you think?

Our recent analysis picked up by the Evening Standard shows how consumers are flocking to new products like BNPL and Monzo Flex. Lenders need to be able to see how they're using these products in order to make the most responsible lending decisions possible. All of this on top of having to adapt to new regulatory expectations, fraud exposure and technological advances, like AI and Open Banking. Render is built by lenders, for lenders. We've seen first hand with Abound how Open Banking-powered decisioning can open up new markets, minimise fraud and result in market-leading credit performance. Please get in touch if you'd like to see how Render may be able to help you do the same. Link to the article in the comments

🚨 𝗡𝗲𝘄𝘀 𝗙𝗹𝗮𝘀𝗵: Monzo Bank is planning to go big on business customers and eyes 𝗚𝗹𝗼𝗯𝗮𝗹 𝗘𝘅𝗽𝗮𝗻𝘀𝗶𝗼𝗻 after doubling the amount of business customers in a year. Monzo, which started rolling out business banking products in March 2020, has now hit 450,000 business customers, up roughly 100% since May 2023. Monzo is currently offering its business accounts only in the UK, but has plans to set them up in other regions soon, Jordan Shwide, general manager of Monzo’s business banking team, tells Financial News. More info: https://lnkd.in/edrFAScz Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ] 

There was a time when larger banks were more valuable than smaller ones. However, Monzo Bank has defied this trend with an impressive valuation of £4.5bn, surpassing Virgin Money and Co-operative Bank combined. The success of Monzo Bank highlights the importance of being digital-first and loved by its customers. #MonzoBank #DigitalFirst #SuccessStory