Experian Welcomes Monzo to Support Hub

Data and technology company, Experian, today announces that leading digital bank, Monzo, has become the newest addition to its Support Hub service

As part of Experian Support Hub, more than 12 million Monzo UK customers will now be able to share their access and support needs with them and multiple businesses in an accessible, simple and standardised way.

Experian Support Hub is a free to use platform which allows users to share their access needs with multiple businesses in one go. This could include preferred method of communication such as letter, telephone, or email, or other requirements such as needing a longer appointment, or being accompanied by another adult to assist them.

Other support needs included on the platform include ‘life events’ such as long-term health issues, bereavement, relationship breakdown or financial difficulties, so users can notify their service providers quickly about their circumstances, which can then put in place appropriate support.

Previous research from Experian found that nearly three-quarters of disabled people (73%) delayed contacting an essential service provider because the process felt too daunting for them to undertake, leading to negative customer outcomes and poor service.

Paul Lamont, Support Hub Director, Experian UK&I, said: “Experian technology is helping more and more businesses improve accessibility, and Monzo – as one of the leading digital banks in the UK – joining Experian Support Hub to assist vulnerable customers is a great milestone for the service.

“It can be intimidating and overwhelming for customers to seek help, especially if they’ve encountered difficulties before. Experian Support Hub makes it easy and straightforward for people to get the support they deserve, reducing the barriers they can encounter in disclosing their needs.”

Riffat Tufail, Vulnerability Access Inclusion & Bereavements Lead, Monzo, said: “Understanding how we can best support our customers is at the heart of our mission to make money work for everyone. 

“Alongside our existing tools like Share With Us, Experian Support Hub empowers customers to quickly and easily tell us about anything that affects their financial lives, like accessibility requirements or a change in personal circumstances. 

“This gives us an even deeper knowledge of our customers, and means we can support them in their preferred way across every area of Monzo from opening an account to managing their money everyday.”

The Financial Conduct Authority (FCA) has found that an estimated 7.4 million people have unsuccessfully attempted to contact one or more of their service providers, with the most vulnerable in society most likely to struggle.

More than three years in development, Support Hub launched in September 2023 with some of the UK’s largest companies, including HSBC UK, Nationwide Building Society, Tesco Bank, consumer credit provider NewDay, Co-operative Bank and Ovo.

Crucially, it does not require consumers to disclose their disability – only the support they require from the organisations they use. Users have complete control over which organisations they share with, and what needs they share, and can remove their permission at any time.

For businesses, Experian Support Hub helps them meet their obligations under the FCA’s Consumer Duty obligations, which instructs them to provide better communication methods and better identify vulnerable customers, so they can put in place appropriate support.