Trust drives advocacy.

Timeline from Monzo on how they discovered the issue and responded to swiftly protect their  advocates .

Timeline from Monzo on how they discovered the issue and responded to swiftly protect their advocates.

This highlights three key themes and how Monzo brings them together for better customer outcomes (which ultimately will continue to drive growth and advocacy).

  1. Harnessing the power of machine learning/analytics — the Monzo customer value proposition is to empower customers through data — transparency and actionable insights — “we want to be a platform that gives people visibility and control of all of their money”.

  2. Organizational agility — that the brand was able to action the threat response — with speed and effectiveness and with clear customer communications demonstrates explicitly how Monzo’s approach “Working in small, interdisciplinary teams means we can move quickly as a company” brings the brand promise to life.

  3. Trust — reorienting the financial service proposition to be a value-added custodian of identity and wealth. Smart. “We see ourselves as trusted custodians of both your money and your data. We will only succeed if we maintain that trust.The future of banking is data and identity.

Painful case study for Ticketmaster and their customers. 
Triumph for the challenger brand and theirs.


https://monzo.com/blog/2018/06/28/ticketmaster-breach/

Conor Ogle