Monzo has appointed Andy Smart as its new Chief Product Officer (CPO) to continue on a path to become a one-stop shop for people to manage their financial lives.
As part of his new role, Smart will aim to create new products whilst keeping customers at the heart of his strategy, a way of working that TS Anil, Group CEO of Monzo, stated Smart has done throughout his career at the neobank.
“Andy has made a huge success of every role he’s had at Monzo, keeping the customer at the heart of his thinking and strategy every step of the way,” Anil said.
“As CPO he’ll continue turning our ambitions into a reality, putting game-changing products and features into the hands of our 11 million customers as we take Monzo to new heights.”
Smart was among the first 20 employees at the company when he joined in 2016. Since then he has held numerous positions, such as being appointed Monzo’s first Vice President of Engineering and acting as Interim CTO.
As the challenger bank’s first VP of Engineering, he spearheaded a team of more than 200 engineers and managers across all products. This gave Smart a complete understanding of all types of services the bank offered, including personal banking, subscription-based business banking, borrowing and payments.
During his tenure as the General Manager of Wealth, he was key to Monzo’s development of its instant access savings and investments products, which have seen impressive adoption rates among customers.
Additionally, Monzo Pension was another product that Smart oversaw the development of. Its launch in 2024 followed research from the bank, which found that over half of UK adults (51%) are unaware of their total retirement savings, and nearly two-thirds (64%) have yet to consolidate their pension pots.
These aforementioned products have been successful, according to Monzo, though Smart believes that what’s coming next is “very exciting”.
“Monzo set out to change the face of finance by bringing the best of banking and technology together, and we’re doing just that. Millions of people now trust Monzo as the place to manage their money – with love for the product and brand that is unparalleled,” Smart remarked.
“The connection we have with customers has been at the heart of this winning formula and as we press ahead with ambitions to meet all the financial needs of our customers, it will stay core to our product vision. What’s coming next is hugely exciting.”
