Our 2024 Diversity and Inclusion Report

At Monzo, Diversity & Inclusion is the common thread that runs through how we do business, how we attract and develop the best people, and how we provide the services we do to the 12 million personal and 600k business customers we support.

2025 marks our 10th birthday, which has given us time to reflect. Our Diversity & Inclusion progress hasn’t been linear, some things have worked really well and others haven’t. Pretty much everything we’ve ever done has had to be iterated on and evolved to support the growing needs of our people as the number of customers we look after has grown too.

Creating an environment where everyone can belong and do meaningful work is something we care about a lot.

Our CEO, TS Anil, has said it best: "There’s a false binary that a values-oriented culture can't also be a high ambition, high growth culture - and I reject that binary. If you hire amazing people and put them in a culture that’s inclusive and values them, people work incredibly hard against the mission."

ℹ️ Throughout this report you’ll see references to representation data of folks who work at Monzo, this data is accurate as of 31st March 2025 in line with the end of our financial year. We use this as an indicator to understand how well we represent the areas where we live and work as a business. We use UK census data for this benchmark. Where we’re able to, we then overlay data related to people currently working in industry. We use representation data to understand how best to attract people to Monzo and to understand the kinds of needs and support folks might have to best support them.

We design our benefits to support people and their loved ones from all walks of life, through all life stages. There’s ‘Caregiver Leave’ that entitles parents to decide who will be the primary caregiver and to take 6 months full pay, with the secondary caregiver being entitled to 3 months full pay. There’s also the ability to swap out existing bank holidays for days that suit you (this may be for religious or other observances), as well as the option to join our private healthcare scheme, to name just a few. Our ethos is to empower folks to make the right decisions for them and their families and provide as much flexibility as possible.

In FY25 we focused on making Monzonauts aware of the full range of benefits available to make sure they’re getting the most out of them. Here are the headline improvements we made.

We believe by investing in our benefits and offering our staff flexibility we’re better able to attract people to Monzo and to support the folks who are already here through life's different stages.

We have many community groups at Monzo, spanning different identity and belief systems. There are currently 3 official employee networks at Monzo: The Women’s Network, Black Monzo and the LGBTQ+ Network. Our employee networks set goals on community engagement, development and awarness to create change for their own communities, and to improve the experience for all Monzonauts.

Making progress on representation of women at senior levels has been a company focus for some time. Over the years, we’ve made strides forward to reduce our gender pay gap and attract more women to Monzo.

In March, we launched our first Women’s Network to bring all of these efforts together and to give more Monzonauts an opportunity to get involved. Sponsored by Stephanie Pagni, our General Counsel & Company Secretary, our Women’s Network aims to support the growth and ambitions of women at Monzo through different lifestages.

The Women’s Network committee hosted a fireside panel discussion on women’s wellbeing, surviving financial and domestic abuse and building confidence, which saw around 350 of our Monzonauts tuning in. The session was also designed to gather feedback from the participants which will feed directly into the Women’s Network strategy for the upcoming year.

We continue to publish our Gender Pay Gap report and are pleased to say that between April 2023 and April 2024 our median gender pay gap decreased from 8.1% to 6.3, driven by increasing the proportion of women in our tech teams. Women also now make up 56% of our Board and 37% of our leadership roles.

Our network for Black & Mixed Black people (Black Monzo) has been building a community that listens to the stories, experiences and feedback from our black colleagues.

Black Monzo’s mission is to empower people within the community to grow and celebrate their authentic selves and they do this by focussing on goals around engaging an active community who have a sense of belonging and fulfilment, as well as empowering Black Monzonauts to thrive and advance in their careers.

To support the latter, Black Monzo have continued to champion their mutual mentoring programme, which presents the opportunity for a collaborative mentoring relationship where two individuals actively learn and support each other's professional and personal growth. The programme brings people from within, and outside of, the Black Monzo community together to share experiences and discuss mutually agreed topics such as career advancement and building soft skills.

The programme has been a strong demonstration of our value, ‘Think big, start small, own it’, where discussions are already in place on how this can be evolved and scaled to have even further impact.

The theme of ‘Reclaiming Narratives’ during Black History Month saw around 900 participants take part in activities throughout the month that included a takeover of our company-wide All Hands meeting, external networking opportunities for Black professionals across the tech industry, financial education sessions for Black Monzonauts and a popular hybrid movie night. You can see our progress on representation of Black & Mixed Black Monzonauts in the Snapshot of our data section of this report.

Our LGBTQ+ Network doesn’t just celebrate Pride once a year, it’s a year-long programme celebrating and spotlighting LGBTQ+ identities, taking an intersectional approach at every opportunity.

Events organised by the LGBTQ+ Network aren’t just moments of celebration, they’re an opportunity to shed light on challenges (and make a difference to the lives) of LGBTQ+ people. During Pride events in 2024, proceeds from merchandise designed by the team and sold as company swag raised £800 for Stonewall Housing and Not a Phase charities, bringing the total raised for LGBTQ+ charities since the Network started (including a campaign aimed at customers through the Monzo app) to £34,307.80.

Our LGBTQ+ Employee Network is the driving force behind our partnership with WAVE, a community for LGBTQ+ individuals across industries to share thoughts and experiences, inspire change and progress their careers with pride.

As a member of WAVE, we partner with companies like Google, Deloitte, BNY and AIG to create a platform for sharing thoughts and experiences, and inspire change through networking opportunities, events and social media presence as well as providing mentoring to support members of the LGBTQ+ community progress their careers with pride.

In 2024 we hosted a WAVE event in our London office for over 100 Mononauts and external guests discussing the topic ‘How LGBTQ+ finance looks and feels’, and how we and the industry can better serve those needs.

Listening forms a natural part of how we evolve and improve our D&I work at Monzo. Having a finger on the pulse and hearing how Monzonauts are responding to internal and external changes and regularly crowd-sourcing ideas on what could be going better not only keeps us accountable, but also fresh.

Our primary form of listening is our regular, company-wide engagement surveys. Our score on D&I continues to be in the top 10% of the technology sector, with an average score of 8.8 out of 10 throughout the year and a participation rate of 82%.

One of the key themes from that feedback is to provide more support, awareness and education on Disability and Neurodivergence, with practical guidance on how we can all bake accessibility principles into our working lives. We’ve done that in multiple ways this year. Whether it's understanding accessible design principles for mobile and web, using inclusive colour palettes in Slack, or writing audio descriptions for our TV adverts, we're equipping teams with the knowledge to spot barriers and how to remove them.

We’ve also redeveloped our accessibility training to better reflect the needs of our customers and colleagues. We’ve created new ways to connect colleagues with lived experience – like those who are neurodivergent, d/Deaf, or use British Sign Language – with teams working on products and policies.

We’ve also evolved our Empathy Lab into a broader accessibility programme. This space (both physical and virtual) gives teams a chance to test and understand how people with different access needs experience our products. Using screen readers, magnification tools, or simulation goggles, teams can better understand common frustrations and test solutions before they go live. These experiences don’t replace the insight of lived experience but they help create empathy, uncover gaps in our design thinking, and create a shared sense of responsibility.

We were the proud winner of Company of the Year at the 2025 British Diversity Awards. It’s always humbling and unexpected to be recognised in this way and the result is a true testament to the many people at Monzo who dedicate their time to purposeful, inclusive action. For us, the true prize will always be hearing stories from Monzonauts on how a focus on inclusion continues to be a reason that they joined and stayed at Monzo. They tell us it’s helped them to be their true selves and do the best work of their lives.

To build a bank that anticipates and addresses the varied needs of our diverse customer base takes constant work. To do that, we need to represent the customers we’re serving. And we also need to hear from people directly, testing with people who face real-world challenges, and learning from accessibility experts to make sure we’re building intuitive and accessible banking services.

This year we started a dedicated accessibility series where staff across the business can hear from customers about the barriers they face and what they want us to tackle next, helping teams across Customer Operations, design, engineering and marketing use these customer insights on accessibility to inform their day-to-day work.

When someone decides to open a Monzo account, we want that experience to be as smooth as possible and accessible to everyone. When you open a Monzo account, we ask you to confirm it’s really you by verifying your identity. You have to take a photo of your ID and record a video of yourself while repeating a short phrase. While this is straightforward for many, feedback from our customers and expert partners like Hassell Inclusion told us it wasn’t accessible to everyone. People who are blind or partially sighted, communicate using British Sign Language (BSL), or are neurodivergent, told us that parts of the process were confusing.

So, we made it better. Our product, design and engineering teams redesigned the video experience from the ground up. We added clearer instructions, a simpler layout, and live feedback to guide people through the process. A dimmed background improves contrast for people with low vision, while haptic feedback and colour cues help users know when they’re ready to record. Since making these updates, we’ve seen a 73% decrease in the number of people who couldn’t complete the process, which is proof that accessible design leads to better outcomes for everyone.

Accessibility extends to every conversation we have with customers, especially when they reach out for help.

We partnered with SignLive, a d/Deaf-owned and led service that lets people communicate with our customer support team through a qualified Sign Language interpreter. For many d/Deaf people in the UK, BSL is their first language, not English. Switching between the two can be difficult, or even impossible. With SignLive, we’re making sure our d/Deaf customers can manage their money in the way that works best for them.

We know that mental health and money are closely connected. When someone is struggling, managing their spending can be especially difficult, creating a vicious cycle of poor mental health and debt. That’s why we’ve created tools that let people put protective measures in place when they’re well, so they have more support when things get tough.

For example, our gambling block was one of the first of its kind in the banking industry. It lets customers block gambling transactions directly in the app. We designed it to add friction at a critical moment, helping people pause, reflect, and stay in control. In 2024, it helped prevent £9 million in gambling payments, an increase of 8% since 2023, supporting more than 70,000 people to take more control and develop healthier financial habits. We’ve designed these features to help money feel more manageable, even in difficult situations. Through our partnership with the Gambling Lab, we’re working even more closely with people who have lived experiences of gambling addiction to shape what we build next.

Building on the success of our gambling block, we launched a second tool: the spending block. Another industry-first, this feature allows you to block yourself from spending with merchants of your choice – whether it’s related to a personal trigger or just a behaviour they want to manage. It puts customisable, preventative support directly in customers' hands.

We know saving can feel big and scary, so we created the 1p Saving Challenge to give people a way of starting small but saving big. Traditionally, saving has been a privilege afforded to those who have more disposable income. Through our 1p Saving Challenge we aim to make it more accessible so that regardless of your financial or personal circumstances, you can save for your future. If people choose to join the challenge we move 1p from their balance into their savings on Day 1 and then 2p the next day, 3p the next day and so on until they save their way to £667.95.

And the take-up has been enormous. To date, more than 1 million people have joined the challenge and are building up their savings

This year we continued our partnership with the UK’s largest community of Black women in tech, Coding Black Females. More than 70 engineers and engineering leaders from Monzo partnered with black women from Coding Black Females, and over 12 weeks worked together to cover a range of topics like career planning, imposter syndrome, coding advice and everything in between. Our aim is to support Black and Mixed Black Women with their career development, to help improve representation across the industry.

We’ve also continued our Engineering Sponsorship Programme which gives Monzonauts from our Customer Operations team an opportunity to pursue a career in engineering. Those who join go on a 16-week immersive software engineering course before becoming full-time associate software engineers. Here’s what one of our backend engineers had to say about their time on the sponsorship programme.

Disabled People

Neurodivergent Monzonauts