Omni Capital Retail Finance choose Auto Decision Platform Case study
The challenge Independently owned Point of Sale Finance Specialists, Omni Capital Retail Finance Ltd, wanted to take a leap forward with their automated decision- ing in addition to finding a solutionwhich could integrate into their sophisticated credit approval system: OmniPort. The approach Omni decided to complete the project in phases, initially implementing their deci- sion engine exclusively with one bureau. This facilitated a faster ADP launch with a view to revisiting the multi-bureau model following the successful imple- mentation of phase one. Following the initial sales discussions and contract, the LendingMetrics ADP implementa- tion team took the lead, headed by a client dedicated Project Manager. For continuity, Omni were also allocated the same LendingMetrics person that assisted them during the sales process as their Account Manager. The client Since 2009, Omni have worked with retailers nationwide to allow customers to spread the cost of their purchases. With their fresh and simple approach to point-of- sale finance, they are one of the UK’s leading providers of consum- er credit. Omni has developed a credit score system that delivers high acceptance rates when com- pared to high street banks and mainstream financial institutions. The success of this model has produced a significant increase in turnover for many of their retailers.
After setting up the first project call, the Project Managers developed a detailed Project Plan to ensure everyone was aware of their responsibilities and deliv- ery dates for the project to remain on time. Additionally, regular calls took place with lead developers on both sides so that the ADP project ran smoothly. LendingMetrics also provided a con- sultancy service to help document the current decision engine, to allow ADP to be delivered with the engine fully con- figured. Training was then provided for their own engine.
Following the delivery of ADP, Omni was then able to integrate it into their sophis- ticated credit approval system: OmniP- ort, enabling their customers to pur- chase immediately at point of sale. The system is paperless and credit appli- cations can be made online, in-store or via mail-order. With Omni’s state-of- the-art technology, their model provides retailers with the ability to offer finance in-store or online with credit decisions provided within seconds. The system is easy to use and provides the custom- er with the ability to buy immediately using a paperless e-signature process.
08 | Metrics Monthly
August 2019 | UK Edition
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