CASE STUDY
Customer stories Lender Loans 2 Go reflects on 5 years of success with ADP
Loans 2 Go are an industry leader in the provision of alternative, affordable personal loans. They provide loans with flexible terms to those seeking to find an alternative to more traditional forms of credit, prioritising treating their cus- tomers fairly and providing them with the information and assistance they need throughout the duration of their loan agreement. Traditionally a logbook lender, Loans 2 Go expanded to over 85 branches in the UK before realising that customers needed access to their loans quicker and therefore took the decision to move online. Loans 2 Go chose to partner with SaaS provider LendingMetrics after interview-
ing a number of companies in the sector offering similar services. They opted to implement the multi-award-winning Auto Decision Platform (ADP) to be able to adjust their credit risk appetite as they developed. Five years on, Loans 2 Go are success- fully utilising the platform to adjust their credit decisions in real time, and using enhanced multi-bureau data for affordability checks to ensure the fair treatment of customers. One of Loans 2 Go’s driving factors to contract with LendingMetrics was their hands on approach from day one. Now, the service is stronger than ever, with the FinTech provider supporting the lender as they continue to grow and
develop. Martin Rix, Chief Commercial Officer at Loans 2 Go said: 'I would highly recommend LendingMetrics, whether somebody’s venturing for the first time online, and needs hands on support and the experience that comes with it, or whether you’re an established lender that’s looking for perhaps a more bou- tique style approach.' During the pandemic, in 2020-21, the lender was able to use the testing facil- ity within ADP to effectively assess credit risk as events developed. They ran retro analyses in order to make sure they we were ahead of the risk before the risk happened.
18 | Metrics Monthly
Q3 | 2022
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