Viewing your credit score in the Monzo app might be coming 🔜

[phildawson (Sorry, I will have to escalate this.)]

Did they mention about their own Monzo loan score and building a way to check that their assumptions of you are correct? I’m sure Daniel mentioned this before to help bring some transparency and possibly reveal weighting without obviously sharing the actual algorithms.

Looking at those pages it’s ripped from Credit Karma/TransUnion with no real added Monzo. Only the Great should be Excellent, 7 days refresh not 14. Also just spotted 698 should be 638 in the line graph.

[Peter_G]

@phildawson

Looking at those pages it’s ripped from Credit Karma/TransUnion with no real added Monzo. Only the Great should be Excellent, 7 days refresh not 14. Also just spotted 698 should be 638 in the line graph.

The problem with discussing this on here is that we lose some of the nuance. The presenter said explicitly that this might never happen and still required much more work. So let’s not get too carried away with the critique at the moment.

[phildawson (Sorry, I will have to escalate this.)]

It was more a comment on those are just visual mockups of what it could look like rather than anything built based on those mistakes.

It also doesn’t seem to offer anything different from using Credit Karma based solely on those slides.

I was hoping they would demo the work mentioned about trying to make loans more transparent.

Feels a bit meh to me

[Peter_G]

I’m not sure it’s meant to, to be honest. I didn’t get a photo of it because the screen was animated, but at the moment it said something like “Data provided by TransUnion”.

Maybe they’re thinking through whether that’s the best approach? Here are my thoughts from up-thread:

@Peter_G

But I think that if there’s a discrepancy between the TransUnion score and Monzo’s internal assessment then that might be a recipe for trouble.

If TransUnion allow it, I’d maybe just show the raw data. Plus maybe a Monzo assessment of credit worthiness.

[gmclean]

We really need an ‘official’ Monzo thread on the talks so these conversations can happen on things that WILL happen next.

I really don’t see the point in discussions on a ‘maybe’ that even if it does appear, might not appear in the form shown at the talk because, in that weird way that time keeps foisting on us all, things change.

[BlueLightAlarm (Jamie)]

That’s a feature I’d be interested in as I currently monitor my credit score between Clearscore, MSE & more recently Credit Karma

[Marksummers]

In the latest Android version release, there was reference to credit scores, so looks like it is in progress!

@mts

Credit Tracker:

<string name="credit_tracker_info_button">Got It</string>
<string name="credit_tracker_info_header">About credit scores</string>
<string name="credit_tracker_toolbar_title">Your credit score</string>

[gmclean]

Interesting. Ish.

Which company they will be getting this from is the question?

[Rat_au_van (Em)]

Credit karma was shown at the last event

[gmclean]

OK. Not sure if that makes a difference. Given I track my credit with them, and two other places and all the ‘scores’ are different anyway… LOL

[JackO]

That doesn’t really matter as the scores not there to be an exact way of working anything out.

Hopefully Monzo doesn’t put too much focus on the actual score (e.g. it’s gone up by 12 this month).

I’d rather they highlighted changes like new accounts etc.

[gmclean]

Yeah I know the scores aren’t exact. Equally, knowing that mine is improving (across all of them) is helpful as a rough metric, and most now show what has changed in the past month.

All Monzo really need to do is mirror that and I think most people will find it passingly useful.

Not sure if this is a priority unless its the first step towards something else that I can’t imagine.

[benbb (Ben Bristow)]

Surprised Starling never gave Tom a non-competition agreement to sign where you can’t make a competitor in the same industry for a year or so after leaving. Had one of those at a previous place.