Monese Reviews

Updated Jul 19, 2020

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3.2
42%
Recommend to a Friend
68%
Approve of CEO
Monese Founder and CEO Norris Koppel
Norris Koppel
32 Ratings
Pros
  • "Work environment is great, passionate colleagues to work with every day(in 6 reviews)

  • "Fast-paced environment but still, very friendly and welcoming(in 4 reviews)

Cons
  • "Customer support is sometimes unaware of the changes made by product teams(in 4 reviews)

  • "No one was ever on the same page(in 4 reviews)

More Pros and Cons
  1. Helpful (3)

    "Average company and nice product, bad culture and confusing objectives"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous 
    Recommends
    Neutral Outlook
    No Opinion of CEO

    I worked at Monese full-time for more than a year

    Pros

    The offices are well equipped and modern, you'll get a fine Apple computer to perform your work and snacks/drinks are free. Monese hires people from all around the world, which is interesting since you'll be engaging with people from different backgrounds and cultures on a daily basis. The product is quite good and it works fine, the company invests considerably in technology, design and developing new features to customers. It feels rewarding to be part of something that actually benefits and helps people. Internal opportunities are shared company wide and you're free to apply. It's a good company if you're an experienced professional.

    Cons

    Monese (management) completely lost track of who they are as a company - the culture that should be spread among employees, the values that the company should stand for before it's competitors and customers. If you ask anybody from Monese what are the 3 main company values, you'll surely get a honest and confusing "I have no idea". Transparency is also something long forgotten. One day it's all about "we're fine, we're all in this toghether" and the next day offices are being shut down and people are being fired. The lean startup structure thing doesn't apply here, it's normal to ask questions, give suggestions or talk with senior employees and get that feeling that you're being itrusive or annoying. Ideas comming from Customer Support are also, most of the times, ignored by managers or engineers. Despite all this, the biggest problem is definetly hiring. Monese doesn't know how to hire people - simple as that. You'll see leadership position employees without leadership nor people skills. You'll see training sessions being held from people with no charisma or learning skills whatsoever. You'll see managers who don't fully understand the product or the industry they're working with. You'll frequently see people complaining out loud about having to change or do something outside their automatic daily routine. Still, what bothers the most, is dealing with people who always think about the difficulties and obstacles before doing something, instead of thinking about the benefits and improvements that new projects/ideas may bring. Last but not least, despite the company pays good salaries for some specific positions, it lacks significantly one thing: Benefits. Forget about anything else besides your paycheck, meal allowance and a ridiculously confusing stock option scheme.

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  2. COVID-19
    Helpful (2)

    "Going downhill"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Customer Service 
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

    I worked at Monese full-time

    Pros

    Diverse and multicultural team, with some diverse and passionate people. The CEO is passionate about the product, although sometimes it's seems he is living an utopic reality not in touch with what is happening on the company's day to day.

    Cons

    Communication and processes are a hot mess, most of the product teams seem to not even use the product or know how it actually works for the final customer. Customer support is sometimes unaware of the changes made by product teams... Management and HR have a total lack of knowledge and care... The whole Covid19 situation was very poorly handed, and dozens of people were dismissed based on a single 5 minutes video speech by the CEO.


  3. Helpful (4)

    "Toxic company with no clear objectives"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at Monese full-time for more than a year

    Pros

    You'll find people from many different countries, which is amazing. The product is very good and can be really helpful for many people. The company is always seeking innovation and product improvements. Good work/life balance if you know how to set boundaries. Flexibility to work from home.

    Cons

    Unnecessary bureaucracy, bad mouthing and toxic environment for a startup. The company doesn't practice the values they preach. You won't find transparency or collaboration, for example. But they will make you believe you will. The company seems to be growing, but you don't know exactly where. People doesn't seem to agree very much on the best path to follow. Some people seem more customer-focused and other, more product-focused, which leads to confusing actions or unstable decisions. It's very frustrating to see how the company deals with Customer Support and leave their customers with no replies for weeks or even months. I've never had my own KPIs or objectives, which was - by far - my biggest frustration. I've never had a performance review and was always left in the dark about my own work. Meanwhile, I've been promised new positions and promotions and ended up in a collective dismissal process. I also believe the company should be more careful when hiring new people, specially because of the cultural fit. This plays a huge part in the toxic environment and in the high turnover. Lastly, I believe the benefits you get for working at Monese are not fair. You don't have health insurance, for example.

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  4. Helpful (3)

    "Preaching values but couldn't even spell them, let alone live them."

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - CEO-Founder in London, England
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Monese full-time for more than 5 years

    Pros

    Nothing that is worth it

    Cons

    Last few months really showed their true colours. Pretending to be a big family but fire half the staff 5 hours later. I have never been so shocked to see blatant lies to employers faces. Felt like a playground. No one was ever on the same page. Never could collaborate. No start up community. Ceo is a lier and has his heads in the clouds. Extreamly underpaid but always told to work better. Managers are bullies. Training is minimal Support and guidance is non existent.

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  5. Helpful (2)

    "Good people to work with but bad structure organisation."

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Software Engineer in London, England
    Doesn't Recommend

    I have been working at Monese full-time

    Pros

    Great people to work with. Help user to get a better bank experience

    Cons

    Bad structure/organisation No more office in London Slow and/or bad communication from leadership team

  6. Helpful (5)

    "Quickly going nowhere"

    2.0
    Current Employee - Software Engineer 
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

    I have been working at Monese full-time

    Pros

    Fairly diverse crowd, a lot of nice people. The office is decent and has snacks and free beer. Important information is given to employees in a fairly honest and straightforward manner and hard questions generally get answered (with some notable exceptions).

    Cons

    Employees are undervalued. Many have been promised improvements in conditions and salary for a long time and they always find a reason to walk back on those promises. The budgets for team-building or morale-boosting are also the first ones to be frozen during any financial low which does not help us feel appreciated. There are also serious issues in product management. There's no overarching vision and individual teams tend to stay in their lane. This results in large portions of the product being undeveloped, or worse launched and simply forgotten. Customers are simply numbers and no concerted effort is made to improve their experience. The company is in a constant re-org flux and there's no end in sight or a clear path out of this mess. Employees are expected to be patient but this patience is running thin, as lay-offs and changes in direction are wearing people out and they seemingly get nothing in return besides being able to keep their job (for a while, at least). This job has neither the fast pace and BS-free attitude of a start-up nor the job security of a cushy enterprise gig. I find it very hard to recommend if anything else is available.

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  7. Helpful (2)

    "Proceed with caution"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Monese full-time for more than a year

    Pros

    Amazing culture and diverse staff. Opportunities to learn and expand beyond your existing skills.

    Cons

    Empty promises and culture of fear from leadership. Things could be great one day with celebrations of how well the company is doing and promises of pay increases and becoming millionaires from your share options to shutting entire offices the next day and sacking key members of staff. Then CEO goes from sacking half the remaining staff to having a company meeting about future of the business seemingly hours later. No empathy or remorse. If you speak to anyone at risk of being fired you could be fired. Very ruthless. No one feels safe. If someone mentions glassdoor reviews, there are threats of legal action. Company has been unable to stay competitive and is shutting down any innovative ventures in a bit to stay alive.

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  8. Helpful (1)

    "Toxic and corporate vibe for a startup"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - AML Compliance Analyst in Tallinn
    Doesn't Recommend
    Neutral Outlook

    I worked at Monese full-time for less than a year

    Pros

    The product is nice, the CEO is really passionate about company, stock options

    Cons

    The environment in compliance team is toxic and you're trained to do your job on fear based attitude ("if you mess this up, you going to get arrested" kind of things). Internal processes and rules are excessive in micromanaging the reviews and investigation. There's no room to suggest improvements as both team leads don't even understand the product. Team lead were watching videos and on facebook the whole day, also last to arrive, first to leave kind of attitude.

  9. Helpful (3)

    "Approach with caution"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Compliance in London, England
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Monese full-time for less than a year

    Pros

    The team members are great people trying to do a good job Free food and drink in the office (no relevant at this time) Equipment is nice (all apple) Some managers genuinely care for the well being of employees

    Cons

    Wage is far, far below market rates for a compliance role HR were found to have not researched the average wage of an employee in compliance and forced to reassess when challenged by employees Pay rise then promised for all compliance employees No pay rise ever materialised Training is poor and inconsistent Mentoring in the form of a ‘buddy’ who is often only a few months in and inexperienced themselves Your ‘buddy’ is often too busy to properly take you through the work New employees are soon overwhelmed with a large, unmanageable caseload and start to fail in their targets The unmanageable caseloads are due to huge backlogs generated by poor management of work and implementation of training The approach to compliance seemed ad hoc at best with constant, almost weekly changes to the approach leading to confusion within teams on how reports should be structured Employees are often fired in a ‘cloak and dagger’ approach, often without really understanding why they were let go in One employee was sent an email the day before he was to be fired, telling him that he would be fired. On questing this with HR and his manager he was told that he would not be losing his job. The next day he was fired, just disappeared after a meeting with his manager The CEO repeatedly mention shares as a panacea to the poor wages being offered to employees, often dangling the prospect of staff becoming ‘paper millionaires’ via said shares No ‘paper millionaires’ ever materialised, employees would often say that they would prefer a decent wage to shares as it would be genuinely life changing Monese demands loyalty and brand fandom without showing respect and compassion to its employees

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  10. Helpful (1)

    "Great team, friendly working environment"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - QA Tester in London, England
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Monese full-time

    Pros

    Great career development and team spirirt

    Cons

    Lack of direction going forward

Found 48 reviews