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Research Outline
Prepared for Ben T. | Delivered August 19, 2019
Competitor Research
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Goals
The goal is to compile helpful forum posts regarding things like complaints, praise, and ideas from each of the four requested companies: Revolut, Monzo, Tide, and Bunq. The forum posts can be used to create a product roadmap for these companies.
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Early Findings
One Revolut user was very disappointed that there appeared to be
no way
to transfer out their cryptocurrency balance to their bank. They were frustrated that they could not spend their money elsewhere or get
better exhange rates
by trading.
A popular suggestion for Revolut was enabling the use of
Apple Pay
. Over
2,600
people responded to this suggestion.
Three years
after the initial suggestion, Revolut finally added Apple Pay support.
One suggestion for Monzo is making the card available to use for
children
under the age of 16. This suggestion was met with
half support
and half skepticism from other forum members.
People are complaining that "
merchant data
", or location information, is often incorrect on the Monzo app. Over
1,600
people replied to this thread on the issue. A Monzo employee did reply to this issue in a timely manner and their tone was very
apologetic and positive
.
Tide has received negative feedback regarding their
lack of speed
in responding to support inqueries. A Tide representative responded to the intitial post
quickly
, but many other people jumped on the thread to add their complaints about the same issue.
Another strong complaint about Tide is that the card
does not work
everywhere that Mastercard is accepted, as users feel it should.
Some Bunq users feel that the payment request links are
confusing
and do not display helpful information. A Bunq employee responded quickly to this thread and had a very
upbeat and helpful
tone, promising to look into the query.
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