Despite the defeat, Monk remains positive about the campaign ahead – and the opportunity to defend the trophy Palace won for the first time last season.
“Yes, it's going to be a good season. All the boys just want to get out there and play. So I have a good feeling for the season.
“Obviously, we have the Premier League Cup. We want to hold on to that and hopefully win it again.”
Palace topped a challenging group last season, drawing 3-3 with Manchester City and beating Sheffield United and Chelsea before overcoming Peterborough United in the quarter-finals.
A last-gasp David Angibeaud header saw off Tottenham in the semi-finals, before the Young Eagles drew 1-1 with Manchester United after extra-time in the final at Selhurst Park and won 6-5 on penalties.
Monk featured in every game on the road to the final, although he missed the showpiece after returning from injury.
“It was a great experience, especially when I was playing up,” he said. “I learned a lot from the lads and I think everyone here has learned a lot from the lads last year. So hopefully we can bring that winning mentality this season.”