Thanks for the response.
On a larger scale picture, don’t you think you’re losing customers that you have spent time and effort into acquiring through traditional marketing, the crowdfundings and word of mouth?
Maybe the sending out of cards needs to be slowed down (via a method like monzo’s golden tickets) to ensure that people who have cards are okay with the beta feel until Xinja can start rolling out features and updates regularly. When I first got Monzo, the fact that it stipulated it was in Beta meant I gave it some slack if it couldn’t do something I wanted yet, it felt like a work in progress.
Travel focused customers who come back from their travels to use Xinja are liable to ditch the card if it doesn’t have any interesting features for everyday life.
Unless Xinja wants to go on a big educational campaign (which they shouldn’t do, imo) to inform customers the reasons why UP is different to Xinja, it’s the front end App that is all (most) customers care about. And as they stand the UP app appears more ‘Unbanky’ than Xinja regardless of which one is a true Neo-bank.
If the main reason you’re not adding features now and waiting for the full banking licence is that features will need a large code overhaul to integrate with a full licence than that’s understandable but the Xinja app needs to stress to anyone downloading it that it is a Beta, not anywhere near the fully fledged app.
If the main reason is just funds allocation, well, I think there should be someone working on minor updates (watchOS, referrals, Apple Pay, adding a profile picture, moving the FAQ to in-app etc), if only so it feels like the app is alive but also so people who are willing to test features can give feedback and issues can be hashed out before the major accounts role out.
I might be way off base, but I have experienced the evolution and roll-outs of Monzo, Transferwise, Revolut and Starling. I just feel that Xinja might appear to be stale and stalling to the general consumer, those who aren’t keeping up with the behind the scenes work.
I’m invested in Xinja (twice!) but my concerns are showing. There isn’t really much community talk on the forums (there aren’t any features to talk about!), it seems like UP (regardless of whether Xinja views them as competition) is stealing some of the Neo-bank shine and all it might take is Revolut, Pelikin or Transferwise to put out an Aussie product with a neat app to move the spotlight off Xinja.
…which might happen sooner than I thought