Monzo—Monzo joined FCA's first AI Live Testing cohort, piloting an AI savings assistant with built-in customer safeguards
Monzo was selected as one of the first firms (alongside NatWest, Santander, Scottish Widows, and others) in the UK Financial Conduct Authority's AI Live Testing programme, which closed first-cohort applications in September 2025. Monzo tested an AI-enabled savings assistant designed to help customers set and adjust savings goals, publishing results on September 21, 2026. In a blog post detailing the collaboration, Monzo said it structured the work around clear customer-problem scope, evidence and accuracy testing, preserving customer control and transparency about AI limitations, and whole-system monitoring and escalation processes developed jointly with the regulator.
Scoring Impact
| Topic | Direction | Relevance | Contribution |
|---|---|---|---|
| AI Oversight | +toward | primary | +1.00 |
| Human-Centered AI | +toward | secondary | +0.50 |
| Overall incident score = | +0.221 | ||
Score = avg(topic contributions) × significance (low ×0.5) × confidence (0.59)
Evidence (1 signal)
Monzo blog: insights from FCA AI Live Testing on its AI savings assistant
Monzo's own account of its participation in the FCA's first AI Live Testing cohort, describing the safeguards and testing process used for its AI-enabled savings assistant. Corroborated by the FCA's published list of first-cohort firms.