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We decided to look at other sectors and ADP was crucial to us in deciding who our customers are, and determining what type of customer to target. We used the testing facility within ADP, we ran retro analysis, we needed to make sure we were ahead of the risk before the risk happened. Martin Rix , Chief Commercial Officer, Loans 2 Go
CONTROLLING RISK
Key to the decisioning process is risk management. Lenders need to be able to make policy adjustments on-the-fly to suit their risk appetite. ADP empowers lenders to run analysis on customer data and make rapid changes to accommodate shifting risk tolerance.
Breaking the mould
We can change things within minutes – it’s brilliant! Dave Hindle , Chief Executive Officer, Propensio Finance
Auto-assisted underwriting has transformed back office operations. We've highlighted comments from lenders who have adopted our award-winning underwriting platform ADP.
FOCUS ON SERVICE
When we first started to work with LendingMetrics we saw the potential of assisted decision engines and the benefits they would bring our business. We pride ourselves on the level of service and personal approach we have on each case and, with the help of the LendingMetrics team, believe we have developed a solution that will allow us to focus on the details of the case and arrive at a decision quickly, in a way that maintains our quality of service. Darren Ditchburn Chief Customer Officer at Darlington Building Society
No two lenders are identical. Using off-the-shelf software runs the risk of not meeting a business' needs. The LendingMetrics team work closely with clients to configure ADP to meet their specific requirements, and can provide ongoing support as well as professional services such as credit risk analysis and scorecard design.
FASTER DECISIONING
When we started 12 years ago, typically with every loan we wrote, it was a case of getting a customer credit file and having an underwriter manually question every line. We’ve been using LendingMetrics for four to five years. Over the last 12 months, we’ve increased the number of cases through the platform by about 250% - and that will continue to grow. The speed of the engine has not faltered. We’re still running at about
One of the most immediate challenges lenders face in their desire to grow, is speed. Manual underwriting simply can't process the volume of applications associated with even medium-sized lenders, let alone huge household names. ADP's ultra-fast decisioning allows lenders to focus on other aspects of the process, without worrying that their systems won't be able to keep up.
LendingMetrics were very responsive with our requests, which we don’t believe is what we would have experienced with a larger company. The speed with which we can change underwriting rules is fantastic. Richard Pinch , Vestigo
A STRONG FOUNDATION
1.5 to 1.6 seconds per decision with ADP. Steve Daly , IT Director, Evolution Money
A lender may feel they can build their own decisioning system in-house, based on the existing processes they've been using and built to meet their business needs. But for the majority of SMEs, this isn't practical. ADP serves as a rock-solid foundation built upon combined decades of experience in the credit risk industry, and LendingMetrics' team work with clients to further tailor it to meet their needs.
ADAPTABLE
We considered building something ourselves, but the amount of effort, time and cost to build it. And then you’re straight into what staff we have to maintain it, and what if they leave. The ADP platfrom was already there, the user interface was easy to change: it was the right way to go. To make changes is relatively easy, you don’t need to be a developer. If you can use Excel, you can make changes relatively seamlessly. If there are challenges, LendingMetrics is just a call away. Steve Daly , IT Director, Evolution Money
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, etika
The lending landscape is ever- changing. Lenders face a near- constant need to adjust their offerings in response to market shifts and desire for growth, as well as pressure to adapt to external factors such as rate changes and economic downturns. At the core of ADP is the ability to rapidly make changes and deploy updated rules, scorecards, or even entirely new decision engines.
The partnership with LendingMetrics has allowed us to provide a scalable offering, increase our volume capability and improve both broker and consumer journeys to deliver more successful outcomes. Buster Tolfree Commercial Director of Mortgages at United Trust Bank
To learn more about how ADP can meet and exceed your lending challenges, visit our website.
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Q1 | 2023
www.lendingmetrics.com
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