Good to see Monzo adding Experian, hopefully Equifax is not far behind.
I work as Head of Dev for a finance provider and we use Equifax for credit reporting checks. Sad to say, not a single person has been accepted by our platform for both Monzo and Starling this is due to the reasons I put in this post last year Issues with Equifax / Vocalink Fraud Checks
Credit reference agencies are a necessary evil in the finance industry as it reduces fraud and ensures people can afford the repayments. It also keeps lenders accountable too because as borrowers, we can see if a lender is correctly reporting our accounts.
Personally, I’m full Monzo and I benefit from it’s budgeting tools everyday. Now Monzo are reporting to Experian, I’m hoping I’ll have an easier time when I apply for my first mortgage next year.