“And I went through all the stuff that drains me, and it’s all the stuff I’ve done in the last two years, honestly. Monzo has seen customer card spend reduce at home and abroad, while new account signups have also slowed during the pandemic. Things I think TS is awesome at.”Although it is unlikely that a huge amount will change immediately, Blomfield says he hopes that he’ll be able to spend a “bunch more time doing the stuff I really, really love, which is community, talking to customers, helping develop the product proposition, long-term vision, and talking to journalists, like you Steve, obviously, and try to unwind my involvement a little bit in more formal regulated banking activities.”Meanwhile, it has been somewhat of a turbulent time for Monzo in recent months, as it, along with many other fintech companies, has attempted to insulate itself from the coronavirus crisis and resulting economic downturn.Last month, I reported that Monzo was shuttering its customer support office in Las Vegas, Like other banks and fintechs, the coronavirus crisis has resulted in Monzo seeing customer card spend reduce at home and (of course) abroad, meaning it is generating significantly less revenue from interchange fees. The company has closed one office overseas, although it said it would continue to invest in governance and fighting financial crime.

Anil maintained that the group, while suffering through the pandemic, nevertheless had a solid foundation on which to survive, according to FT. The company has more measures up its sleeve, although Anil said he didn’t think further job cuts would be involved.Staying home 24/7 has consumers turning to subscription services for both entertainment and their day-to-day needs. Meanwhile, Anil — and, in the future, other country-specific CEOs — can do the day to day, more regulated aspects of running a bank.In a brief call with Blomfield just moments ago, he told me he had been thinking about a transition into a different role for about 18 months, but it wasn’t until much more recently that a formal decision was taken.“I went through all the stuff I love about my job, and it was all the stuff I did in the first two or three years,” he said. Other executives include TS Anil, CEO; Sujata Bhatia, COO. Image source: Image of TS Anil, provided by Monzo. See the full leadership team at Craft.