UK, 10 February 2020: Monzo has announced it is to start reporting information to Experian, the world’s leading information services company. The partnership will see Monzo sharing current account and loan data with Experian for the first time.
Experian has continued to expand its credit information bureau by adding new and relevant financial information into the equation, so that clients get the broadest view of financial behaviour available. This ensures that their clients can deliver better, more affordable outcomes for consumers.
These improvements will mean that other lenders can get a better picture of Monzo customers who are looking to access affordable finance from other financial providers.
Tom Blacksell, Managing Director, Experian UK&I, said: “Monzo is one of the real success stories in UK financial services and we’re delighted to be working with them. We are committed to continuously developing our credit information services portfolio, ensuring that we can support our customers to make more informed decision by providing the most relevant information available.
“Experian’s combination of data, technology and analytics helps businesses unlock insights and take decisive actions in the moments that matter. Bringing unique scale, speed and intelligence that deliver the best results for both businesses and their customers.”
Customers will see Monzo information appear on their Experian credit reports in the coming months. Founded in 2016, app-based Monzo has been at the forefront of the UK’s digital banking revolution. It offers current and savings accounts, loans and real-time spending notifications to help customers manage their money.
Weber Shandwick for Experian
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