Many factors play into this, but the big ones are changes in regulation<\/strong> and technology<\/strong>. Regulation, especially in the UK, has encouraged competition in retail banking for a few years now \u2014 and more changes are on their way in the form of required open banking APIs, for example. <\/p>\n At Monzo, we aim to become the hub for your entire financial life, and being able to show external bank accounts, credit cards and other pieces of the puzzle through open banking makes that all possible.<\/p>\n As for technology, smartphones are a trusted and mature platform at this point<\/strong>, and people of all ages are used to mobile paradigms. Maturing interface guidelines on both Android and iOS also let us use native patterns that our customers are already familiar with, making a new kind of banking experience easy to pick up.<\/p>\n And honestly, the ecosystem that we and our competitors are building helps propel us all forward. The fact that more and more people have used (or know someone who has used) a branchless or mobile-only bank account with a great experience helps us all. Competition helps establish the industry<\/strong>.<\/p>\n Our unexpectedly friendly and helpful customer service definitely stands out, as does the usability of our apps. We aim to help all of our customers take control of their financial lives by providing tools so natural and powerful to use, you don't even need to contact customer support for most tasks.<\/p>\n We also have a track record of bringing truly new types of features to the banking space. Things like in-app budgeting or the gambling block feature are now widely adopted across banks, but we pioneered them by focusing on real customer pain points.<\/p>\n We're also very transparent about our process and where we're going.<\/p>\n We want to take our customers on the journey with us, and build trust by being open. We often get asked, \"Aren't you worried that others will copy your features?\". We're not worried, because it's not the individual features that set us apart \u2014 it's how they all work together in one coherent, easy-to-use package with excellent customer service 24\/7 just in case you need help.<\/p>\n \"Last but not least, we genuinely care about our customers and stand on their side. Fancy features are great, but without truly being customer-centric they'd be worthless.\"<\/span><\/p>\n We have a relentless focus on real customer needs. We gather insight through user research, through our close relationship with our community members, through events, customer service, and many other channels. We listen to our customers and openly commit to meeting their needs.<\/p>\n Everyone building the Monzo product is user-focused, not just designers. This requires more effort from us than just building the easiest thing, but it's worth it. We also release early and often, experiment a lot, measure everything, and are ready to throw away ideas that don't work for our customers.<\/p>\nDefining what sets Monzo apart<\/h2>\n
Achieving uniqueness in fin-tech<\/h2>\n
How Marvel helps Monzo<\/h2>\n