Monzo CEO Tom Blomfield Shares his Perspective on Traditional Banks

Tom Blomfield believes that banks focus too much on their existing financial products such as mortgages, loans and credit cards; because of this his perspective is that there is a large disconnect between the lenders and their customers; in a CNBC article Blomfield states, “Banks are set up to prevent change basically…A lot of the systems inside the bank — particularly risk and compliance functions — are there to stop things changing. Because if things change it creates risk. And so they’re like these antibodies that go around hunting out change and trying to kill it.” He realizes the challenges that companies like Monzo face starting from scratch but it sets the groundwork for a culture at the company focused on building something new. CNBC

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.