Monzo is now following Dozens' mission

#1

It is a very interesting to see that Monzo is now launching funds I.e. effectively Monzo with bank and Investment platform like dozens.
In order to gain the market share, just want to know when Dozens is going to actually launch the funds to investors ? Also want to know if in your roadmap are you planning to open share trading like FreeTrade ?

https://www.thetimes.co.uk/article/digital-bank-monzo-led-by-tom-blomfield-plans-hargreaves-lansdown-for-millennials-with-low-cost-funds-68j8db52h

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#4

It is interesting - always happy to see others agree with our vision.

Lots more UK consumers of ALL ages should be considering investing for their future, but this does require them being more aware of the opportunities and the risks, and to inform themselves, so in many ways, the more brands spreading this message, the better.

We are doing this because we believe it is the right thing to do … so hopefully even more brands will do this in future - but not everyone’s business model will be able to support it, that is why we feel we are building something different :dozens:

Our own developments in this area are ongoing and there will be some changes coming to the app very soon, but trading of individual shares is not on a roadmap at the moment - that’s a very different activity and risk profile, and there is already plenty to be getting on with.

However, if you want to pitch the idea more and help us imagine this for the future , you can always share your ideas here in the community.

6 Likes
#5

I wouldn’t say they are following Dozens mission per se. All established banks provide investing products. I would say it’s more the case that Monzo are aiming to add to their current account offering with the type of products that are available at established banks.

I haven’t used Dozens much myself but my understanding of where Dozens see themselves as unique is in coaching users into better saving and investing habits. Not sure Monzo will have this emphasis.