Metrics Monthly | March 2020 | UK Edition

Case study TFS Loans adopt LendingMetrics’ LMX, ADP and OBV

Choosing LendingMetrics TFS Loans’ previous platform supplier was not suitable for their needs, so they were seeking a new automated deci- sion platform provider that could offer a solution with strong support and SLAs. TFS Loans wanted to move to a more flexible system that could reflect learn- ing from previous lending activity and retro analysis. They needed to execute these logic changes quickly, so required fast response times and self-serve tools in order to manipulate the logic autonomously. LendingMetrics’ Auto Decision Platform (ADP) would be able to accommodate these needs, and it was a natural step for TFS Loans to upgrade their platform to that of the decision engine specialist.

Having used credit reference data, TFS Loans wanted to develop and expand this usage in order to better understand the individual risk profiles of their cus- tomers and to lend more effectively and diligently. By adopting LendingMetrics’ ADP to automate their decisions, TFS Loans were able to easily identify good creditworthy applicants both quickly and efficiently. Initially, LendingMetrics completed a retrospective analysis on the data held by TFS Loans in order to demonstrate the data that would have been available to them had they been using Equifax. As a result of the positive outcome of the analysis, TFS Loans signed up to LendingMetrics’ products LMX, Open- BankVision (OBV) and Auto Decision Platform (ADP).

The TFS Group was established in 2003 to offer a range of consumer finance products for borrowers who are unable to access the high street banks. TFS Loans have a particular niche in the “guarantor” unsecured credit and personal (secured) loan markets. They strive to be responsible providers of finance on reasonable and transparent terms to customers and businesses requiring an alternative to the main- stream funders in the UK.

10 | Metrics Monthly

March 2020 | UK Edition

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