Loans

[amydicketts]

Hi everyone

I’m Amy and I’m the Product Manager for Loans at Monzo.

I just wanted to re-share an old post of mine to shed a bit more light on how we determine who is eligible for our loans:

We’ve launched loans to everyone who’s eligible

Hi everyone, Thanks again for your feedback, it’s been so useful to hear your thoughts after having taken a look at our loans. As part of our efforts to always be transparent, we try to give each person a reason as to why we can’t lend to them, without sharing any information that we’re not allowed to for legal or security reasons. We can see we haven’t quite nailed this, so we’ll put some more effort into thinking about how we communicate these reasons more clearly on the screens you’ve been …

I hope this clears up some of the questions that you’ve raised. We’re really sorry if it feels like a ‘black box’, we’re still trying to find the line between transparency and our commitment to being a responsible lender (which means not giving away too much information which could be used to allow people to game the system).

We really appreciate your feedback and I’ll try and answer any other questions you might have about our loans!