Marketplace and 3rd party offers


#1

I’ve been mildly worried about this for a while as I guessed it might be on the horizon - after seeing a thread on Monzo’s forum just now, I see it’s starting to happen.

Apparently Monzo, as a test, inserted an ‘offer’ for Bulb energy into a small number of their current account users’ transaction lists. The way I see this is that they placed an ad in their transaction lists.

I don’t mind offers and link ups and stuff, as long as they are in a sectioned off bit of the app - like the Apps & Services/Marketplace section in the Starling Android app.
If I want to link my account using the API to another app that serves offers, then that’s my choice.

But if ‘offers’ start appearing in my transaction list and around the app - that’s highly likely to lead to me closing my account and going back to a ‘legacy’ bank. it’s highly intrusive and not something I want in my banking apps. I really hope Starling has no plans for anything like this.


Competitor news
#2

That doesn’t sound good and I would not want this on my transaction list. I agree with you @Pipefish that having ads or 3rd party offers is fine in Apps & Services/Marketplace section but will wait and see.


#3

Yes, agreed - we’ll have to trust that the team will keep account functionality nice and clean and compartmentalise all TP stuff.


#4

It’s amazing how non-plussed, even supportive of it, most of the people in the thread on Monzo are.


#5

Yep. Will turn me off if I started seeing that


#6

It was sent to 95 people who have all agreed to test out features on the current account preview.


#7

I personally don’t want to see this myself. I disliked how Monzo had tips listed in with purchases on the time line, so blatant advertising would probably force me away and back to a legacy bank.


#8

I wouldn’t like to see this either.


#9

We totally agree with you, and have no plans for anything like this. Other apps and services will be available/discoverable via the Marketplace portion of the app.


#10

@Megan_Caywood thanks for the clarification.


#11

Very interesting.

I was at a Monzo hackathon mid-Nov 2015 when they first started giving out Alpha cards. My friend and I developed a coupon app which would sit alongside the Monzo app and feed coupons, based on spending habits, directly into your transaction feed which could be redeemed the next time you visited a specific merchant.

It was an interesting experiment with the technology although we had no plans for commercial development. Nevertheless we came 3rd at final judging time. However Tom B said he liked the implementation but he didn’t like our spamming of the transaction feed. He said the Monzo ethos was to enrich the transaction content whilst saving space in the Monzo feed. This might have be done by annotating the line item with coupon metadata, for example.

So I would hope that these are just experiments to test reactions across different user demographics.