Edward Cotton’s Post

This is a good ad. And here’s why 👇  ⚡️It challenges that a relationship with your bank can be a good one, even a loving one ⚡️By tapping into the human truth of how consumers feel about money and their money in traditional banks ⚡️It challenges standard category cues – it doesn’t feel like an advert for a bank, so the repetition of the word ‘money’ does the heavy lifting and connects us to finances ⚡️Unlike other bank advertising which focus more on the human need for certainty (i.e. your money is safe), Monzo focuses on the need for growth and the development and improvement of one’s financial well-being ⚡️It cuts through with striking colours, emotive music that builds in pace and clever copy ⚡️The clever use of shifting images, tonal changes between the money images and the Monzo images and the music evokes a strongly emotive reaction that is positive and empowering ⚡️The message is simple: finances don’t have to feel so hard It smashes Embark’s 4 communications testing KPIs:  ✅             Be memorable ✅             Illicit emotional reactions ✅            Drive a desire to act ✅             Resonate and be understood Superb work Monzo Bank! Anyone seen any other brilliant ads you can share? https://lnkd.in/dwF7Ma22

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

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

Always loved the tone of voice used by Monzo Bank. But I'm still awaiting for someone to start a financial institution called The Tree Bank, which would open the door to some of the following catchphrases: ⬛ Simply visit your local branch ⬛ Where money is the root of happiness ⬛ Money does grow on trees ⬛ Putting yew and your money first ⬛ Banking Fir Everyone Anymore? #moneydoesgrowontrees #banketybank #branchingout

Most of us have a complicated relationship with money. Whether we have too much or too little, there are usually tangled emotional connections, stemming from past experiences. The new Monzo ad leans into this friction. Money can feel stressful and overwhelming, but Monzo promises to make it feel easier and better. At its core, the ad makes an insightful point that people don’t really care about having a relationship with their bank. They have a relationship with their money. And the bank can either increase the anxiety around finances or help you navigate them in a healthier way. It's a fresh approach in the banking category. Instead of talking about features or interest rates, Monzo connects with the unspoken angst many of us operate on when it comes to personal finances. And responds with an empathetic and engaging approach. #banking #bankadvertising #monzo #personalfinances

Monzo Bank: profitability and explosive growth in FY24! #Monzo has reached a significant milestone by becoming profitable for the first time, elevating its valuation to $5.2 billion (+16%). Key highlights from Monzo's journey: 🔸 Profit achievement: reporting a profit of £15.4 million in FY24, showcasing a sustainable business model. 🔸 Customer growth: welcoming 2.3 million new customers, thanks to user-friendly, innovative banking solutions. 🔸 Revenue surge: an impressive increase from £154.2 million in FY22 to £880.0 million in FY24 - a 2.5x growth from the previous year. 🔸 Card spend: significant year-on-year growth of 42%, reaching £47.8 billion in FY24. 🔸 Deposit growth: an 88% increase from FY23, rising to £11.2 billion in FY24, reflecting growing customer trust. 🔸 Capital raise: successfully securing £500 million, strengthening financial foundation for future expansion. Monzo's customer-centric approach and innovative services continue to drive its success and enhance investor confidence. With strong market positioning and ambitious expansion plans, including targeting the #USA market, Monzo is well-poised for future growth. Discover the upcoming release of the USA Regionale Report: https://lnkd.in/dmH7YcWA Read the full blog: https://lnkd.in/d7g5GkW2 #CInnovation #FintechInsights #FintechInnovation #FinanceInsights #BankingRevolution #DigitalTransformation #BankingInnovation #FinancialGrowth #Finance #Banking #NeoBanking #FinancialServices #Fintech #BankingNews #TechInFinance #FinancialNews

Day 3's tip in our #25Tips25Days series comes from TFC (Tom Foster-Carter 🇺🇦) and is all about speed. See how Monzo Bank & Cherrypick have taken advantage of speed as they go-to-market 👏 Follow us on YouTube for 22 more quick tips over the next 22 days 🚀 https://lnkd.in/erSjppX2

A business delivering scale, growth and profitability. Impressive, indeed.

What a landmark year for Monzo Bank! We surpassed 9m personal customers and 400,000 business customers, launched game-changing new products, closed a ~£500m capital raise, delivered very robust and diversified revenues - with 2.5x growth! - and, as planned, reported our first year of profitability. I’ve never believed in the idea that a company has to choose between being either mission-oriented, or focused on business outcomes. FY2024 proved Monzo is doing both - and that our strategy of placing the customer at the heart of everything we do is working at scale. Over the past few weeks we’ve had many questions about our recent capital raise. What did investors see? What were they saying? They saw a business delivering scale, growth AND profitability. And alongside all of that - they saw the huge opportunity that is ahead of us, and the conviction that we can win it at scale. This is our biggest and best year yet and sets us up brilliantly for future success. https://https://lnkd.in/etf6T5A4