An inside look on what’s going on
Hi all. Not new here, but posting this anonymous for obvious reasons. I can’t disclose my relationship with bunq, but let’s just say I’m an insider. This post is not hearsay, it’s personal experience. Feel free to be critical of everything I say, I would be too. But with all the censoring that’s going on now, I felt like someone from the inside had to speak out. Wish it wasn’t necessary..
Importance of employees
Now this may sound bitter, but it’s important to see the full picture. Employees are severely undervalued. The pay is bad and no overtime “Because we’re a startup”. And you won’t believe the look people get if Ali sees someone leave the office before 6PM (yes, six) They’ll immediately be categorized as ‘not passionate enough’. Now if that doesn’t demotivate a person, I don’t know what will. The upside? Well, people love it there because it’s full of cool young people who are all friends.
Bunq is a relatively small company for a bank. Not thousands, more like a hundred direct employees. So when you see a lot of negative reviews on a site like Glassdoor, it’s not just some weirdo pissed about getting fired. Bunq is constantly hiring lots of people, but the number of employees barely grows. That’s because people generally don’t stay very long. I’ve personally seen tons of amazing people come and go. But automation is what matters to Ali. People? Not so much.
Why this keeps happening
I can’t help but smile when I see people say things like ‘The one responsible for the Instagram feed needs to be fired’. There is only one person who calls the shots at bunq: Ali himself. People think of banks as these big bureaucratic corporations. But aside from the fact that money is strongly regulated and safe (honestly), that is where it ends. Sure there is a board, but Ali decides everything down to the pixel. Calling it micromanagement would be an understatement. And heck it’s even understandable, bunq was built with his own funds. But it’s a toxic recipe for a stable company.
Ali surrounds himself with yes-men. Give him so much as a bad look and you’re out. Ali is a charming smart guy with charisma. But he’s really not a people person, to put it extremely lightly. Only a small inner circle is close with him in any way, shape or form. Most employees avoid him entirely. They smile and nod, then go about their day peacefully. Lots of people have no idea what’s being decided about features or memberships until the very last moment. Good chance that you as a bunq fan know more than the average employee! No one is asked for their true opinions beforehand.
You’ll always hear data drives decisions at bunq, but thats complete nonsense. If Ali hates it, forget about it! No matter what numbers say. Only after public outrage he caves. That is why this stuff keeps on happening. Theres a total disconnect from the average joe who likes bunq. The outrage then only surprises Ali, while the rest of the company has a famous ‘told you so’ look on their faces. The company is full of amazing people who understand what customers want. But they sure as hell don’t dare give Ali their opinion without being asked. They have invisible tape on their mouths.
Summary
Again this is my personal experience and NOT meant to generate any hate. I wrote it because I believe in the product and because the only way for it to succeed is Ali getting a reality check. It would be such a waste if it fails because stuff like this keeps happening. Ali: Stop seeing bunq as your personal playground, and start being a CEO instead of a micromanager. Put good product people at the right place and give them the chance to make some decisions. There are so many passionate people when it comes to bunq, but they’re all going to waste like this.. Value them!
TL;DR For the love of god Ali take a course on how to listen and swallow critical feedback. Put that giant ego away and let the rainbow shine, as bunq would put it.
