Bringing Innovation into the Funnel of Company Services: A Case Study of Monzo Bank

This report discusses the benefits and ways of bringing innovation into the services of Monzo Bank, a leading online bank in the United Kingdom. It explores the current challenges faced by the bank and proposes an innovation business model to improve its functioning and profitability. The report also highlights the importance of market analysis and provides recommendations for the bank to enhance its business model.

Entrepreneurs
hip

TABLE OF CONTENT
Executive summary:..............................................................................................................................2
INTRODUCTION.................................................................................................................................3
MAIN BODY........................................................................................................................................3
CONCLUSION.....................................................................................................................................7
REFRENCES........................................................................................................................................8
Executive summary:
The report has undertaken various benefits and ways for bringing innovation into the
funnel of company services, Monzo bank which is aiming to bring forward various
marketing gaols . The report later has explained various technological benefits and functional
strength onto which higher profitability can be attained. The innovation business model shall
be used for Monzo bank based upon their business innovation demands which are explained
with various parameters of innovation functioning and how it can develop overall functioning
within all departments.

INTRODUCTION
Entrepenuership can be understood as one of the most important business activity
which broadens person working horizon into larger working plethora and functionally bring
forward various marketing segments. The report discusses business horizon of Monzo bank
which is undergoing wide slow growth and is planning to induce innovation in its functioning
horizons for larger working segments. The entrepreneurs in high digital world are
innovatively looking forward to inculcating business segments into company services, which
are explained in company business model with specific explanation and detailed research.
Report further broadens perspectives on innovative mindset, resources under constraint and
how actively business can be expanded for larger working performances (Dicks, Rose, and
Sutherland,2017)
MAIN BODY
Monzo Bank is one of the most used online bank in United kingdom and originated
from earliest number of new app based bank to provide customers various facilities for
keeping money safely and for providing all online financial management activities. The bank
has been recognised as highly professional in all financial management services for various
segments of customers who can easily use it for gaining advantages of online banking. These
factors have made it highly functional and easy operable by people for leveraging high end
services from anywhere in an instant, productively transfer money to people and also
conveniently take various services from bank for their business. Monzo bank aims to keep
innovation in the funnel of services with changing pace of time and consumer demands but
the current business models is lacking efficiency and is struggling to identify new ways
through which company can deliver , create new services and capture higher value from
various segments of market share. The higher competitive work environment impacts the
working efficiency, productivity among con summers high range demand of various services
which is higher in innovation and functionally higher in business value The current business
value among customer segments has been slowly declining due to tough competition in
banking industry where data safety, privacy factor is highly active by bank. These factors are
currently functionally not strong and operative enough to leverage the higher growth among
consumers market , with less trained employees and less rational energy through which
market value is not becoming strong with the higher pace of time. The business models work
as one of the highest business function base which impacts on various strata’s of determinants

onto which larger rational goodwill among business operations can be achieved for gaining
strong return of outputs (Lee, Strohl,Fortenberry and Cho,2017).
The innovation business model shall be evocatively included within company
business services which will enable to generate higher innovative development. The model
will enable company to deliver new, unique concepts supporting company financial viability
including its mission and processes for bringing new concepts into working fundamentals.
Monzo bank is currently lacking the strength to diversely develop new innovative functions,
this model will enable company top management to induce funnel of creativity within
company and also to bring high growth factor for long term business positioning.
Rationale for including innovation in company business models
 The rationale for including innovation in company business model of Monzo bank can be
understood with fact that with high functional growth among consumer demands, high
rational energy of new market technical efficiency impacts bank services. There is high
demand of innovation in funnel of management through which keen synergy of gathered
working targets can be attained on greater extent. The operational units have to be highly
functional and innovative with higher market demand so as to keep data secure for longer
time, privacy works as asset to promote new business segment of customers which will bring
higher profitability in revenue composition factor.
 There is higher demand for innovation among the banking services in industry where
productivity is largely grown with the rational keen synergy of technology and multimedia
marketing among banks. The rationale to include technology and innovation under this factor
can be understood with the fact that it enables to market out the assets and information among
consumer market share effectively and keeps resources highly constructive under proper
innovative technology. Business model are one of the best way for inclusion of innovation
into the funnel of company business networking chain for higher values and determinants
through which larger customers can be attracted for more productive growth factors. Monzo
bank is one of the moststrong company using high relative changes within its promotional
aspects and the services delivery through websites and mobile apps (Lin, Su and Higgins,
2016). But the present working business model needs to be upgraded with new innovative
technologies and faster impactful services among people which will further aid in higher
expansion.

 Innovation is one of the biggest strength onto which company can gain larger profits and
assets into future under various productive scenario, productively bringing benchmarks of
competitive edge into their performance standards. Monzo bank is one of the most used
online app of banking through which company aims to serve large customers with various
financial services and functional attributes of large efficiency. The online app enables people
to optimum use of various lucrative services which can be used at anywhere and at anytime
with high convenience factors, which has made innovation as one of the biggest used strength
among competitors and customer preferences to bring forward various innovative tools of
quick impactful services.
As per the various changes coming into business world, where the dynamic of
innovation and technology are diving into every factor of company productivity,
Monzo bank needs to use strong market analysis and focus on building benchmarks
based o n competitive market analysis. Market analysis enables us to analyse the
immense importance of innovation into the funnel of business services by Monzo bank
where digital online services through high efficiency enables in programming the various
structural models which is extremely important with changing paradigms of time and
factors influencing their working parameters among customers. Author Zhang, Yang and
Lei, 2019, enables us to analyse data driven business model can be used by Monzo bank
will be best to evolve within the market structure factors where there is high demand for
growth and customer’s preferences are highly changing. The innovation factors within data
driven model will be programmed to keep an analysed view on all parameters of working
within Monzo bank structure. Market analysis will enable in getting detailed market
structure technical presentation through which Monzo bank business model can be
functionally represented for company higher presentation. The justification comes with
these parameters as it has been rationally understood to take stringent factors nad
technology up-gradation highly important to bring on based on analysis where all
these factors explain it. Market analysis will give detailed view on various paradigms
which needs to be undertaken by Monzo bank to speed up the innovation among all
services, develop its marketing position with customers demand factors. Another author
Frankenberger and Stam, 2019. represents how research factors built he strength among
innovation funnel into company business management services, gather technology working
parameters with commitment from skilled employees and program out the avenues onto
which customer satisfaction will be developed for higher growth.

The market analysis will enables in gaining innovation into business model with various
factors through which latest customer preferences, innovation and diversity which needs to
structured within present business model can be analysed.
 Market growth factors by innovation business model:
Monzo bank by evolving innovation in the business model and constructing high diverse
factors of large productive services with advanced technology will be able to gain large new
customer base market growth factor onto which higher goodwill, large profitability can be
attained on long term basis. The industry analysis will be an important tool through which
large customers can be gained under the company business models and higher sales
management structure. Monzo bank through constructive planning and investments into
innovative chain Funnel Company can gain large edge of competitive benchmarks and add
value creation, value delivery, value capture into the funnel which will further gain in higher
productive outputs (Neiman and et.al 2017).
Value delivery: Monzo bank through innovation and digital marketing parameters being
funnelled into company services will be able to serve higher value delivery of financial
services, and instant feedback completion through mobile apps and websites. Value creation
will work as an important asset for Monzo bank which will give higher revenue, explanation
into new customer segments and function more productively through which more technology
integrated services will be implemented into company.
Value creation: Monzo bank through value creation will be enabled to get high value
created among consumers which will not only build string goodwill and productive revenue,
outputs within company but also keep employees motivated for longer working scenario
through higher working development. Value creation will enable company in building long
term goodwill among consumers and reduce any pitfall among recent scenario of business
model which is not enough informative for people to gain exact details of working
performance.
Value capture: Monzo bank through value capture will enable in positioning itself as one of
the most valued bank among industry where the consumer preferences are highly wide and
resource allocation will be highly effective in resourcing best fundamentals. The bank
through innovative business model and determinants of value capture will be enabled in
capturing higher position among customer market share through which goodwill is more

evolved. Value capture power will enable in gaining huge profits for higher future growth
aspects through which bank can optimum present itself with more resourceful image among
consumer market (Nicolini,Lippi and Monteiro, 2019).
Recommendations:
 Monzo bank need to train employees working in company for higher productive use of
technology in all its operations, bring forward best training programs and development which
will not only motivate employees with new skills. But also keep them updated with the
changing business scenario to function well for higher productive outputs. The training of
employees will work as an important factor of growth and internal goodwill building through
which Monzo bank will be developing higher business optimisation factors.
 Justification: Due to these marketing demands and high demand in technology among
all banking operations Monzo bank needs to train its management teams, employees to
use all new innovation factors for business changes.
 onzo bank need to build diversity factors among employees in company working
management for gaining higher business targets, work more fundamentally with changing
business demands into market share. The bank will be enabled to keenly achieve various high
growth resources through which bank will be financially stronger, and technology will work
as one of the biggest strength for higher business functions. Innovation funnels through
higher resource optimisation and structured strategic planning will further add to higher target
positioning for bank services on higher ends.
 Justification : Due to this new diversity marketing factors Monzo bank needs to find
and work onto new technology frameworks.
 Monzo bank need to use high digital marketing ends and resources for higher technology
outlook and productive functional utilisation funnel through which bank services will be
effectively delivered into funnel with large usage factors. Through this not only large
customer share of market growth will be successfully attracted and highly leverage various
target positioning of functional strength into company internal structure. The competitive
social media marketing with innovative technology and machinery will be able to build
strong presentation among high consumer market share , through which Monzo will be
successful in determining various future goals (Chou, Ding,. and Sim, 2016).
 Justification: Monzo bank needs to rationally look upon new technology benchmarks
onto which high up gradation is demanded and functionally development , according to

new marketing technical requirements and customers preferences with changing
business world scenario .
 Time scale for the evaluated recommendations will be within the parameter of 6 months for
which Monzo bank will program out innovation into company model, being out more
diversity into internal structure and functionally program out new decisions of innovative
business management. Within 6 months of time frame Monzo bank will effectively built
diversity into services and gather high recognition among banking services with high range of
growth factors through which new synergy will be injected within company for long term
working development. 6 months will be a planned criteria of all visionary goal attainment for
Monzo bank through which innovation can be implemented among working ethics of
employees and they are rationally evolving their practices with the changing pace of business.
Limitations of the recommendations
Limitations of the recommendations can be understood with the fact that with dynamic
business world the parameters of high development pertaining within company services need
to be developed with continuous periodical changes. The recommendations will have
limitations of time period flexibility lacking if proper planning and controlling, the key
management principles are not functioned properly. Recommendations may not be impactful
for higher long term business functionality if Monzo bank do not uses innovation funnel with
proper training and uses contingency leadership for gaining optimum business performance by
employees.
Reflective note:
The report enabled me in gaining practical outlook on how innovation can fuel
working performance within my professional career, innovative mind set and creativity will
funnel more transformative knowledge for more deeper understanding of business activities.
I while working for this report came across various parameters onto which companies can
connect with customer market segments into industry and develop higher business gaols on
various plethora of business learning with innovative programming. The report made me
innovatively develop my skills and vision towards various productive actions which will
further add to keenly upgrade new constructive training and functional energy through
which i will be programmed under various new rational thinking models. The report also
gave me perspective building power to work for higher goals and innovatively train myself
for higher rational thinking working models. These skills will be helping me in my future

projects, assignments and various fractional thinking parameters through which i will be
building more technical working ethics into my business within future. The report also made
me proactively learn new marketing vision and various innovative marketing skills through
which i will be able to program out higher business goals and gather more synergy into my
assigned roles (Véron, R., Fernando, N., and Zurbrügg, C., 2018).
CONCLUSION
The report can be concluded with various underlining message and factors of
innovation through which Monzo bank will be able to develop its business scenario into
various productive targets and gain higher customer growth segments for business expansion.
Report concludes various parameters onto which large innovative business models will
enable Monzo to gain large goodwill, higher profit margins and large working performance
through which company will be able to induce creativity into funnel for long term working
performance.

REFRENCES
Books and Journals
Dicks, L.V., Rose, D.C. and Sutherland, W.J., 2017. Priority management innovations for
sustainable intensification. Aspects of Applied Biology, (136), pp.33-36.
Lee, C.C., Strohl, K., Fortenberry, M. and Cho, C.Y.S., 2017. Impacts of human resources
management innovations on productivity and effectiveness in a medium-size
non-profit organization. Global Journal of Management and Marketing
Volume, 1(1).
Lin, H.F., Su, J.Q. and Higgins, A., 2016. How dynamic capabilities affect adoption of
management innovations. Journal of Business Research, 69(2), pp.862-876.
Neiman, A. B., and et.al 2017. CDC grand rounds: improving medication adherence for
chronic disease management—innovations and opportunities. MMWR.
Morbidity and mortality weekly report, 66(45), p.1248.
Nicolini, D., Lippi, A. and Monteiro, P., 2019. Systematic Heterogeneity in the Adaptation
Process of Management Innovations. Institutions and Organizations: A
Process View, p.194.
Chou, M.C., Ding, D. and Sim, J., 2016. Models and insights for hospital inpatient
operations: Time-dependent ED boarding time. Management Science, 62(1),
pp.1-28.
Véron, R., Fernando, N., and Zurbrügg, C., 2018. Social processes in post-crisis municipal
solid waste management innovations (No. ARTICLE).
Zhang, Q., Yang, S. and Lei, R., 2019, August. Enablers Analysis of Knowledge-sharing in
University Research Innovation Teams. In Proceedings of the 2019 2nd
International Conference on Information Management and Management
Sciences (pp. 60-65).
Frankenberger, K. and Stam, W., 2019. Entrepreneurial copycats: A resource orchestration
perspective on the link between extra-industry business model imitation and
new venture growth. Long Range Planning, p.101872.

APPENDIX
Reflection note:
1. I while writing this report learned various parameters of innovative learning and 1
programming for banking company in global industry where there are various new
companies and brands coming up in world. I learned the factors which are highly
important for optimum services in banking company among consumer market share,
where i used my research abilities of data and analytics which are my strength for higher
business performance in my professional career.
2. I allocated time to write my project with structural planning and analysed the relative
resources through which i may get detailed information on company business model and
prioritized my work as it broadens my vision to factorise various skills under my talents
and knowledge of innovation business models.
3. While writing this project I also gained various practical experience of working under
peers and communicative abilities which will further broaden my skills and functional
potentialities to train my business rational thinking forward. I while writing this project
came across various paradigms of importance for building innovation into my creative
development fundamentals for stronger business performance.
4. I while working for this report faced difficulty to program my reporting into formative
structure which will further add to my resourceful thinking and functional goal visioning
power. I learned smart interpersonal skills, research abilities and programming
techniques under this project, which has highly developed my rationally to bring more
evocative knowledge.
5. Through this report i gained knowledge on how to factorise my personal skills for higher
betterment and goal accomplishment target where technical efficiency for broader
development is highly potentially very important for higher professional working
performance.
6. While taking another similar group project at future i will aim to improve my project
further with new research and analytical skills for gaining relevant data with proper
structural programming to analyse company latest marketing trends. The further
functioning towards project will be developed further with the guidance and learning
from this project, as i gained various determinants to functionally develop my skills
forward.