Monzo: The Evolution of a Marketplace Model

🥁 Introducing the latest addition to our series of reports on Neo-banks: 
 
Monzo: The Evolution of a Marketplace Model
Deep-dive and Benchmarking
 
If you enjoyed our previous research on Revolut and Wise, you’ll be happy to know that our Monzo report covers all the same bases, and more! In particular, this time around we have increased our comparisons of Monzo against its competitors to get a better idea of its position in the market. 
 
Monzo, only second to Revolut as the largest UK Neo-bank, is a special contender in the FinTech sector largely thanks to its obsession with customer experience, which has been both a blessing and a curse for the company. 
 
Monzo’s Net Promoter Score (NPS) is consistently above 70, lightyears ahead of HSBC (7) and Goldman Sachs (5), and from day one the company aspired to create its own full-stack infrastructure, in collaboration with its users rather than for its users.
 
Our analysts take a look at what this has meant for the company, now 7 years old and recovering from a global pandemic, and the ways in which it adapted its business model during times of crisis. Our report finds that despite the challenges of the past two years, Monzo continued to raise funds and diversify its sources of income, all whilst remaining faithful to its goals of helping the community at large.
 
The team at C-Innovation has sifted through all of Monzo’s published financial reports from FY2015 to FY2021, as well as studies provided by the likes of Bain and Co., the UK Government and S&P Global, in order to provide a 50+ slide report which reveals Monzo’s past challenges and future prospects.
 
This report is aimed at FinTech businesses, enthusiasts and corporate banks looking for actionable take-aways which address the importance of strong company culture that accommodates for a sustainable business model. We look at revenue diversification, customer retention, product development, partnerships, and funding, frequently drawing parallels between Monzo and its market competitors.
 
The following list summarises our Monzo report contents:
 
Background
Overview and Story, early success , Monzo Team, Investors and Criticism
Growth Strategy
Strategy, Initial Results, Growth, Marketing​, Milestones, Funding & Valuation, Partnerships​ and Infrastructure​
Business Model
Business Model Overview​, Product for Businesses, Sources and diversification of Income
Financial Metrics
Overview​, Total Revenue, Costs & Operating Loss​, Revenue by business line​, Number of customers, customer deposits, gross lending, Unit Economics and Revenue breakdown
Competitors
Competitive landscape​, Comparison of Valuations,​ Market share & Remittance costs​, Comparison of User Experience, Comparison of Features, Business Banking approach​
Future Prospects
The Road to Profitability, Challenges to Internationalisation and upcoming IPO
Key Takeaways
 
 If you want to learn more about Monzo, why should it come from us?
 
☺️ All of our sources are displayed and are up to date - leaving nothing to second-guess!
🔨 We have done all the hard work (sifting through financial statements and long press releases) and synthesised this information so that it is as easy to read, digest and apply as possible!
🏝️ Themes and key points are stand alone, so if you need information quickly it can be easily identified and understood independently from previous slides.
🏠 Our experienced analysts are in-house, and so if you have any additional questions we are just an e-mail away.
👃 Our opinions are objective and unbiased - we are not affiliated with Monzo and simply enjoy sticking our noses into their business model…!
 
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