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Monzo Users Might See Credit Scores Hurt by Using the Digital Bank

Monzo Users Might See Credit Scores Hurt by Using the Digital Bank

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FintechNews RoundupUSA
··1 min read

Monzo users might see their credit scores take a hit due to the digital bank sharing data only with TransUnion and not with Equifax and Experian; Equifax and Experian are the two largest credit bureaus with TransUnion coming in as third largest; the decision could keep customers from making Monzo their primary account which is the holy grail for all banks; a new study from AT Kearney said 21 percent of consumers have their primary bank account with challenger banks; the move could also hurt Monzo’s chances of getting more millennials to make the digital bank their primary bank account. Business Insider 

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

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