KPMG Nunwood
Publications

UK Customer Experience Excellence Analysis 2020

Monzo

Financial Services

Tom Blomfield, Monzo’s CEO, set the tone for the bank’s COVID-19 response by forgoing his salary for a year. As a digital bank it is well positioned to support its customers through the pandemic. However, alongside its digital support, it also set up an internal response team dedicated to supporting the customer and getting them the right information at the right time. Advice is available from specialists in three areas: financial difficulties, vulnerable customers and bereavement.

Monzo reassured its customers that it was business as usual for the bank during lockdown, as its website noted “many of us who work at Monzo routinely work from home anyway. So, we’re especially well-equipped to keep Monzo running as usual, even if we can’t make it to the office”.

"Monzo are quite possibly one of the best banks out there. I love the app and how easy it is to use and they seem to want to keep all their customers safe."

UK CEE 2020 respondent

Monzo prides itself on offering something different to the legacy banks. According to a YouGov poll it is one of the most recommended brands in the UK and in its 2019 annual report it noted it was recruiting some 200,000 new customers per month, with over 3 million users of its coral credit card.

 

Pillar Score vs. Industry Average

Company Profile

Tom Blomfield, Monzo’s CEO, set the tone for the bank’s COVID-19 response by forgoing his salary for a year. As a digital bank it is well positioned to support its customers through the pandemic. However, alongside its digital support, it also set up an internal response team dedicated to supporting the customer and getting them the right information at the right time. Advice is available from specialists in three areas: financial difficulties, vulnerable customers and bereavement.

Source

monzo

+7%

Personalisation

+7%

Integrity

+8%

Expectations

+7%

Resolution

+6%

Time and Effort

+10%

Empathy