Does Monzo use aggregated data from open banking APIs to assess credit risk?
Not as far as I know!
All I know is they donāt just use your credit scoreā¦ they have their own internal criteria. It could be something they use who knows 
If I remember correctly, Monzo relaxed the criteria for overdrafts to help support people during the pandemic. Since lockdowns were lifted (and government rules changed) the criteria appears to be reset back.
I was only offered Ā£500 overdraft pre-covid, then it went up to Ā£2000 (which I didnāt take), and now Iām back to Ā£500 max, yet my credit score and financial situation has not changed.
Yea, Monzo are strict not because they are dragons and donāt want to invest in their customers but more because monzo donāt just have the ācant pay you backā risk but they are also finding their feet internally. They are new to lending and I saw a post on here a bit ago about how monzo have the tech and not the banking experience. Something or other. I dont think they are strict to be petty to us all. Example I have a loan with M but they wonāt overdraft me. It isnāt my score they just say in the app āwe canāt offer itā. I think its because they have already lent a product to me. Iām not sure
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