Monzo has maintained 6th position in the UK Financial Services rankings after its Overall Customer Effort score stayed the same at 60.
There is some room for improvement, however, as its Style of Communication score dropped -2 points, from 63 to 61 – although this is still an increase on the beginning of the year where it had a score of 50.
Diving into the areas used to calculate the Style of Communication pillar, fewer customers (48%) ranked ‘good’ on Monzo’s ability to communicate in their chosen language, if their primary language wasn’t English.
The bank has managed to maintain its scores across the remaining three pillars, though.
Next quarter, some movement might occur as Monzo recently announced plans to offer a bank account to children, aged under 16, that will enable them to set savings goals and organise money with ‘pots’ and have access to guides on money topics. How will Monzo communicate with this new audience? The answer could have a huge effect on its Overall Effort Score.