Shaper: Tom Blomfield

Show aired on 23rd September 2017

Transcript

Tom Blomfield
Co-founder and CEO of Monzo

Tom went to grammar school in Amersham, Buckinghamshire, where he developed a passion for coding. In his teenage years, he worked for a local estate agent called Wilson Heal, delivering leaflets. Whilst working there, Tom convinced them to get a website, which he built for £250.

Tom studied a BA in Jurisprudence at the University of Oxford, and a Diplôme en Driot at the Université Panthéon Assas (Paris II), before going on to complete a Master’s Degree in Law, again at the University of Oxford.

Prior to becoming co-founder and CEO of Monzo in 2015, Tom was co-founder and CTO of a start-up Boso.com, an online marketplace for students, which he dropped out of in order to stay in university; an Associate Consultant at OC&C Strategy Consultants, a global consulting firm; co-founder of GoCardless, an online direct debit provider; and VP Growth at Grouper, a dating website which matched users to go on group dates.

Follow Tom on Twitter @t_blom.

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“In this era where we have this smartphone, this super computer in our pockets, the banks don’t seem to be using all the functionality they could be.”

“People join because they believe the same things we believe and we are together trying to build a better bank. I think it really is very mission and community driven.”

“I think that’s why everyone becomes a management consultant. Because they don’t know what they want to do with their lives.”

“If you’re going to start a new kind of business you really need that challenging mind-set that says, actually the status quo doesn’t look right. How can we do this better?”

“I love starting things. I love creating, starting with the metaphorical blank sheet of paper and bringing something to life…injecting energy and momentum and creating something out of nothing.”

“If you’ve worked in a bank for twenty years and you get a twenty three year old telling you actually maybe the way you’ve been doing it for fifteen years isn’t the right way…you need to be the right kind of person to be able to deal with that level of disruption.”

“If you say, how do humans think and behave and feel, let’s fit around them and just make it intuitive and delightful, the result is astonishing.”

“We are only on this planet for a defined period of time and you can choose how you spend that time…I think we have the opportunity to, in some small way, improve the lives of potentially millions of people around the world.”