ilumoni - Pilot Test Agreement & Privacy Policy

Who are Monely?

Monley is the company behind the ilumoni app. It's time to take back control. For too long it's been easy to borrow, but hard to borrow well. We want to make it easy for people to borrow well. ilumoni helps you see your borrowing in a new light so you can take control of what you owe.

At Monely our mission to make it easy for people to borrow well by:

enabling people to see all their borrowing in one place
doing the hard work analysing someones borrowing and repayments
helping find ways to reduce the interest they pay on their debt
finding ways to pay debt off faster.

What is the ilumoni App?

Our first product launch will be the ilumoni App. The App will combine a customers’ data from their Credit Report and Open Banking data in order to reconstruct and analyse their borrowing.and ystematically find opportunities to improve borrowing both today and in the future.

Our Current Status

Full launch of the ilumoni is dependent on the full FCA regulation, for which our application is in progress. In the meantime, readiness for launch requires the ilumoni App to be tested and optimised until it provides the best insight and experience for customers. To this end Monely has commissioned the Pilot test

About the Monely Pre Live Pilot Test

In order to ensure the App is fully tested and rigorously fine tuned we are undertaking a range of testing of which this Pre Live Pilot is a critical part. The product is not finished, it is still being developed and is likely to produce inaccurate, misleading and surprising results - which is why we need your help to spot this.

Test objectives are:

Functional Testing - to discover issues stemming from unexpected usage patterns in simulated real-world conditions, with structured testing, to ensure core features work as intended.

Usability Testing - to evaluate the experiences we have designed with representative users with participants completing typical tasks. The goal is to identify any usability problems, collect qualitative and quantitative data and determine the participant's understanding of the product.

AI Training & Testing - to train our AI algorithms with anonymised test data sourced from the third party test platforms community of testers, then test the output to ensure our AI is working as planned.
Product Concept Testing - Gain an understanding of what potential customers think of the product concept to determine if the market is ‘ready’ for the product and understand what additional features, changes are and enhancements will make the product better.

Data, Data Security and GDPR

Monely is committed to data security and has designed, built and tested an anonymised data approach specifically for the Monely Pre Live Pilot Test

In signing this agreement and completing registration via the ilumoni App, each Tester will permit Monely access to the Credit Report and Open Banking data. In turn, Monely will commit to:

Never storing any of your Account Numbers or Sort-Codes
Never handling, processing or having any visibility of any Internet Banking username and password
Anonymising your Credit File and Open Banking data before storage, so it can never be linked back to you as an individual
Deleting our authorisation keys permitting access to your data immediately after sign-up is complete
Deleting your personal data (e.g. Name, Address, Date of Birth) immediately after sign-up is complete

Once the above has been completed, there will be no ability to correlate the data provided with you as an individual. Consequently, any subsequent GDPR queries are not applicable as the data is no longer attributed to an individual.

This is a Test, not a Product or Service

First and foremost you acknowledge that in this relationship you're acting on our behalf as a Tester, providing your data, time and feedback and in no circumstances are we acting on your behalf.

Explicitly, you acknowledge and understand that;

You are providing your data to enable us to test our calculations in the background; and
That any data you see in the app is not your actual data it is test data which represents a similar debt profile to your own

As such under no circumstances should you consider what you see in the App as a reliable assessment of your borrowing and you should absolutely not take any action based on what is displayed in the App.

Testing Agreement

By indicating your willingness to participate in the Monely Pre Live Pilot Test and completing the sign-up process, you agree to be bound by this agreement.

Who’s this agreement between?
1. You - The person who has registered to participate in the Monely Pre Live Pilot Test as a Tester
2. Us (or we) - Monely Ltd
What do words and phrases used in this agreement mean?
1. Monely Pre Live Pilot Test means the pilot test programme being run by us in order to assess the viability and state of development of the Product.
2. Monely Test Account means the test account provided by us to you as part of the Monely Pre Live Pilot Test.
3. ilumoni App means the mobile application which is used to operate the Monely Test Account.
4. Product means the pre-release Monely Test Account and the ilumoni App together.
5. Tester means you, the person being ‘hired’ to use your data and time to test this App
What does this agreement cover?
1. This agreement covers your obligations in relation to participating in the Monely Pre Live Pilot Test, including provision of feedback and use of the Product on a test basis only. This agreement also sets out our obligations to you in respect of the Monely Pilot Test.
2. This agreement does not cover use of the ilumoni App or your rights and obligations in relation to a Monely Test Account as you are not acting as a customer but as a paid tester.
Changes we can make to this agreement
1. We may make changes to this agreement and, if we do, we will give you notice of the change. If you use the Product after the notification, then you are agreeing to the revised terms. You can view the current version of this agreement within the ilumoni App.
Important Monely Pre Live Pilot Test Product limitations
1. Explicitly we are providing you access as a paid tester and under no circumstance should you use any output from this app to do anything about your finances in real life. This would constitute a breach of this agreement.
2. The Product is being made available as part of a test in order to assess the viability and state of development of the Product.
3. Given we are providing the Product to you for the purposes of testing and evaluation only:
  1. we may decide to stop providing the Product to you at any time during or after testing, or change the Product to have different features and functions;
  2. not all of the functions and features may be available for you to use. In particular:
    1. we will not be offering the ability to manage Open Banking or Credit Report Consents through the Product in the pilot programme;
    2. we will be providing information via email;
    3. the Product may have errors and defects, may not function as expected and the Product may not be available at all times; and
    4. functionality offered in the App may be withdrawn at our discretion at any time.
    5. At the end of the test your Monely Test Account will be deleted and access withdrawn.
    6. any data collected during the test will be fully anonymised post the test and kept for analysis and testing purposes.
4. Due to test restrictions, you must only use the ilumoni App on the device you register with us at the start of testing.
5. You can only use the Monely Test Account if you satisfy the eligibility requirements that we explained to you before you agreed to be part of the pilot. If you fail to satisfy these then you will no longer be eligible to participate in the Monely Pre Live Pilot Test, and your Monely Test Account will be closed.
6. We will notify you if any restrictions are removed or added during the test.
7. We may monitor your usage of the Product to ensure it is being operated in accordance with our instructions and to assess performance, functionality and usage of the Monely App.

What are your obligations in relation to the Monely Pre Live Pilot Test.
1. This is a test and we want your help in developing the Product and you agree to test and evaluate the Product in accordance with any reasonable instructions which we may give you from time to time.
2. To participate in the Monely Pre Live Pilot Test you may need to use third party services. You acknowledge and agree that these applications will be subject to terms and conditions with the application provider and that we have no liability or responsibility to you in relation to your use of them. If you are unable to download these applications (if required), then you will be unable to participate in the Monely Pre Live Pilot Test.
3. As part of the Pre Live Pilot Test you will be asked to connect accounts via Open Banking. Monely is acting as an agent of TrueLayer, who is providing the regulated Account Information Service, and who is authorised by the FCA as an Authorised Payment Institution (reference number: 793171).
4. All feedback which you provide to us as part of your participation in the Monely Pre Live Pilot Test will be our sole and exclusive property. You hereby irrevocably transfer and assign to us all of your right, title, and interest in and to all feedback including all intellectual property rights therein and agree that we may use such feedback for any purpose. Any improvements, changes, bug fixes or modifications which we make to the Product as a result of such feedback shall be owned solely by us.
5. You acknowledge that Monely has no express or implied obligation to announce or make available a commercial version of the Product to anyone in the future. Should a commercial version be made available, it may have features or functionality that are different from those found in the Monely Pilot Test.

What are our obligations to you in relation to the Monely Pre Live Pilot Test?
1. We may provide you with instructions setting out how to download and use the ilumoni App and will provide you with support for the Product as part of the Monely Pre LivePilot Test.
2. We may offer you, at our sole discretion, a small reward or incentive for participation in the Monely Pre Live Pilot Test, subject to certain conditions at the time of offer.
3. We will keep your data secure and will only use your data as defined in this agreement.
4. During your participation in the Monely Pilot Test Monely is not obligated to provide you with any maintenance, technical or other support for the Product. If such support is provided, it will be at our sole discretion.
What's our liability to you?
1. Limitation on Liability Provision of any Product under this Agreement is experimental and shall not create any obligation for Monely to continue to develop, support, repair, offer for sale or in any other way continue to provide or develop Product either to Licensee or to any other party. THE PRODUCT IS PROVIDED “AS IS” WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND INCLUDING WARRANTIES OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL Monely OR ITS SUPPLIERS BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, DAMAGES FOR FINANCIAL LOSS or LOSS OF INFORMATION) ARISING OUT OF THE USE OF OR INABILITY TO USE THE PRODUCT, EVEN IF Monely HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
2. Nothing in this agreement shall exclude our liability for death or personal injury caused by our negligence, for fraud or for fraudulent misrepresentation.

Use of your information
1. You acknowledge and agree that by participating in the Monely Pre LivePilot Test or by using the Product, Monely may receive certain information about you. including personally identifiable information. and you hereby consent to Monely’s collection, use and disclosure such information.
2. Any data collected during the test will be fully anonymised post the test and kept for analysis and testing purposes.
How this agreement can end
1. This agreement will end automatically if your Monely Test Account is closed.
2. This agreement only covers the Monely Pre Live Pilot Test of the Product and this agreement will end automatically once we notify you that the pilot test is completed.
Governing Law
1. This agreement shall be governed by the laws of England. The parties agree that the courts of England and Wales shall have exclusive jurisdiction to hear any dispute arising out of or in connection with this agreement.

Monely Ltd, all rights reserved, registered in England and Wales (Company number 11886611), Trading Office; The Barnsley Digital Media Centre, County Way, Barnsley, S70 2JW. Monely is acting as an agent of TrueLayer, who is providing the regulated Account Information Service, and who is authorised by the FCA as an Authorised Payment Institution (reference number: 793171).