RedAmberGreen Q4 2022

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Editor's letter

Building societies

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“With the help of the LendingMetrics team, we we have developed a solution that will allow us to focus on the details of the case and arrive at a decision quickly.” Darren Ditchburn, Chief Customer Officer at Darlington Building Society 

Specialist finance

Welcome to your new year's edition of RedAmberGreen It's a new year and a new opportunity to change things up here at LendingMetrics. That means a new name for our quarterly magazine, and a new editor - that's me! Say goodbye to Metrics Monthly and hello to RedAmberGreen!



“We can change things within minutes – it’s brilliant!” Dave Hindle, Chief Executive Officer at Propensio Finance

And looking forward, we share our thoughts on what the credit referencing landscape might look like ten years from now. We've also got exciting news about how ADP is empowering Iceland's Food Club to support those in need, a customer story from a new and innovative lender Tymit, and plenty more news from ourselves and the industry at large. It would be remiss of me not to thank my predecessor, Georgia Pullen, for her long-running tenure as editor. She brought us a raft of engaging articles, often with charming illustrations; I hope to be able to deliver that same quality you've come to expect, while injecting a little of my own particular style. Thanks for reading, and I'll catch you in the next one!

So, what's new? In this issue, given the timeliness of the new year and the tumultuous state of affairs in the UK economy and more specifically, the credit industry, we felt it would be prudent to take a look at where we are now and what we can expect in 2023 and beyond. We take a look at the problem of loan sharks, an insidious phenomena as old as time, but one which seems to have exploded in this cost of living crisis, no doubt compounded by the huge decline of the HCSTC industry. We examine the cost-of-living crisis - the ongoing "economic rollercoaster" - and what it means for both lenders and consumers.

Consumer lending

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“LendingMetrics [is] helping us to quickly and reliably assess customer affordability in line with our strong focus on responsible lending.”

Car finance



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“We’ve had a lot of support from the LendingMetrics team to establish how we can get the most out of ADP and we’re looking forward to getting started with the solution.” Ken Doyle, Head of Credit Risk and Data Strategy at Specialist Motor Finance Ltd



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Mortgages

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“The partnership with LendingMetrics has allowed us to provide a scalable offering, increase our volume capability and improve both broker and consumer journeys, thus delivering more successful outcomes.” Buster Tolfree, Commercial Director of Mortgages at United Trust Bank



Consumer lending

Luke Atkin Digital Marketing Executive

“ADP is second to none for champion/ challenger testing. It has enabled us to confidently propose and execute changes in the knowledge that the objective is achievable.” Leon R Tunnicliff, Global Head of Credit Risk & Fraud at etika



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