RedAmberGreen Q4 2022

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CASE STUDY

Company updates LendingMetrics tops the Power 20 list for a second year running

Continued success for Castle Trust

Related articles Custom Credit choose ADP

Credit Connect's full awards review, including the complete power list, can be viewed here in PDF format . “The annual guide provides a snapshot of the technology innovators within credit and collections – it showcases who is leading the way with innovations and have backed up their status by entering the awards. Finalists and winners have provided measurable data within this process. The companies that have made the top 20 ‘premier’ list this year are now highlighted by their dedication to innovation. All the companies listed have provided solutions that have helped to enhance the best customer outcome through lending or collections processes.” Colin White Founder, Credit Connect

Credit Connect has announced its Credit & Collections Technology company power list for 2022, and LendingMetrics has ranked in first place for the second year in a row. The annual list sees Credit Connect ranking its top 20 companies in the credit technology sector. The list acknowledges and recognises innovation within the industry. The shortlist is compiled based on winners and nominees in Credit Connect's own Credit & Collections Technology Awards 2021, where LendingMetrics emerged victorious in the Credit Reference & Information Solution category, and was nominated in several other categories. A company's performance across the previous five years' Awards determines their position in the power list. The 2023 list is expected to be published in December and will reflect the results of the 2022 Awards. As LendingMetrics won the Credit Reference & Information Solution award at this event as well, they are likely to remain at the top of the list.

The Sussex-based tailored loan provider partners with LendingMetrics to offer a next-level borrowing experience to their clients.

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Customer stories: Tymit Read how this revolutionary lender accelerated their decisioning while remaining transparent and flexible with ADP, in their mission to provide "smart, flexible and honest” credit.

We sat down with Castle Trust Bank to discuss the positive impact that ADP has had on their business.

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Since acquiring Omni Capital in 2017, Castle Trust Bank has offered accessible finance solutions to retailers. LendingMetrics' ADP has powered their decisioning process for the past four years. When LendingMetrics initially spoke to Castle Trust in 2018, we learned that their credit strategy was fragmented between themselves and an external partner This fragmentation led to inflexibility; Castle Trust was forced to implement a "one size fits all" approach to credit risk. With a desire to offer customers a more seamless journey, and a need to incorporate a flexible risk strategy which could be tailored to suit the unique needs of brokers or retailers, Castle Trust adopted LendingMetrics' Auto Decision Platform. Since implementing ADP, Castle Trust has doubled its overall lending through Omni Capital. They attribute

this success to multiple factors: the increased flexibility afforded to them by ADP, a greater emphasis on self-serve capability offered to their customers, and a robust suite of customer profiling and intelligence tools enabling a complete customer journey throughout the lifetime of their loan. You can watch our full video case study with Castle Trust Bank on our website . "If we think about the impact the economy has had on customers, we want to actually go through with them on that journey... to understand what the customer profile could look like in the next six to twelve months." Gabriel Falana Head of Product and Change Castle Trust Bank