Competitor news


#1

I can’t see an obvious fit, but I reckon the occasional significant event in the fintech world, particularly other banks, might be interesting to the forum. @JamesPratley, does that make sense?


Monzo announced its ATM fees
Monzo current accounts
Bad experience switching to another bank from Starling
Nationwide FPS Outage
Loot card as Pre-paid?
Passport to Europe 🇪🇺
New Monzo payment method
Competitor News - Lloyds Bank App Updates
The legacy banks are innovating
#2

This might be worth a glimpse.


#3

Tinks that a good idea.


#4

These sorts of updates are perfect for the News & ChitChat area. Please feel free to post news updates in there whenever you find it - we love a good natter! :coffee:


#5

Not exactly breaking, but I thought I’d post it anyway…


#6

Not sure if you’d call it news, but this landed in my Inbox today:


#7

Is there an article on this that isn’t behind a pay-wall?


#8

Is it? My bad. I’m not an FT subscriber, but I could read it? Anyway, I’ve modified the original post :slightly_smiling_face:


#9

Hmmmm, as soon as I tried to load it I got a pop-up about having to pay. Anyway, thanks for the working link :slightly_smiling_face:


#10

I just got the same. Looks like you get 1 free article, and then it wants money :smirk:


#11

Let us know what you think :slight_smile:


#12

#13

Is this the mailing out of their current account cards?

I had and invite to the ‘event’ at their office the other week but I couldn’t go.


#14

I had an event invite too but couldn’t go either but got this instead before all the dates had finished.

The links in the e-mail are for Android only and I’m already a Beta tester of the pre-paid app so that might contribute to me getting it early on or it might be completely random!


#15

Yeah, I’m a beta tester too. I suppose that might be one of the requirements. But randomness too.


#16

It was, you can read an explanation for why the test was carried out this way here.

TL;DR - this was far from the approach that Monzo will take in the future. It was a quick test with under 100 users, who are open to testing (as they’re taking part in the preview), to start gaining feedback now, rather than waiting until the full UI etc. had been built.


#17

I’m not biased against Monzo or Starling either way. I actually signed up to ‘Mondo’ long ago but have been waiting for the current account; I have no interest in a pre-paid card. I had always thought Starling was behind and didn’t follow it as closely, until recently when I became aware Staring was ‘ahead’ in the current account race.

The explanation provided in this case is good to see, but for me the fundemental issue of inserting a promoted product into what is essentially a list of bank transactions shouldn’t even be on the table. For bank to be willing to do this, even with a group of testers, doesn’t bode well for the future.

I know the new banks are looking at things differently and will likely have different revenue streams from traditional banks, and promoted products are likely to be one of them. But for me these always need to be separate from the basic account functionality.


#18

Wait? Did you reply to the wrong thread? I’m confused :slight_smile:


#19

:man_facepalming: I sure did, that was meant to be part of this discussion :blush:


#20

Hah - I’ve never seen that face palm emoji before! :slight_smile: