Venkat is defining the Monzo approach to lending by combining his prior experience with in-depth interviews with customers


Tell us about what you do here?

I am responsible for delivering lending capabilities for Monzo. This involves deciding who we can lend to, how much we can lend and what we should charge for overdrafts.

How did you find yourself in the world of lending?

As a student of economics and statistics, I started my career in data analytics developing models for fraud, credit, and marketing. My first project was to score spelling mistakes on airline tickets to separate genuine errors from potentially fraudulent cases. I also spent a few years developing a risk framework for microfinance whilst working in Africa and Asia. Six years ago, I moved to the UK and started working with Lloyds Bank. The role at Monzo has been much more holistic and the fact that I am able to support multiple aspects of building a new bank is one of my favourite parts. I must confess my career has been a bit serendipitous: I got a job with American Express as soon as I left university and I have stuck to a career in analytics ever since. I don’t regret it even a tiny bit.

On a day-to-day basis, who do you work with and how does the team run?

I work a lot with Luba and Paul. Luba and I work very closely as a team to deliver the lending goals. We are in the nascent stage of team building and establishing our role within the wider team structure.

What are you most proud of?

Getting to talk to our customers about the overdrafts and pricing. It was really exciting to find out that I can communicate pricing to customers in non-technical language.

What have you learned in your time here?

I am learning a lot about the amazing new banking technology Monzo is developing and I’m really excited about it.

What are you most excited about in the coming months?

Developing my relationship with the rest of the team and delivering lending as a service to Monzo customers. I’m also looking forward to exploring the idea of marketplace banking, especially with regards to lending products.

What can you tell us about the lending experience we can expect from Monzo?

Monzo will be a responsible lender who will look to make borrowing for customers intuitive and transparent. It will look to redefine product flexibility to suit customers’ financial needs instead of shoehorning standard products into customer lifecycles.

If you weren’t at Monzo, what would you be doing?

I would love to teach, although I’m not sure which subject.

3 words to describe Monzo

Ambitious, innovative and collaborative. Can I squeeze honest in there too?

Weekend hobby:

I love books (reading and collecting) and travelling. I’m aiming to visit one new country per year!

Unexpected fact:

I’m trained in method acting.

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