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Software fragmentation

Adapting to ever-changing times

Recently Chris Warburton interviewed LendingMetrics CEO David Wylie about the evolution of lending decisioning technology and how new capability means increased flexibility for lenders at a reduced cost. In the interview, the pair discuss the fragmentation of software eco-sys-

tems, to allow use of best in class modules. The benefits of this are that clients get access to some of the best function- ality in the market, with less compro- mise, but this does add complexity and multiple vendors, all of which needs to be managed.

So, which solutions work best? To see Mr Wylie's response to this question, watch the clip below or click the button to view the full interview.

Watch full interview

The events of the last year have transformed the face of the working world and have meant we've all had to adapt quickly to changing circumstances. With the Government's roadmap to normality in motion, we asked you whether you think face-to-face meetings will go back to how they were before, and the results painted an interesting picture of the future of work.

A large number of people (60%) said they think that meetings will only 'par- tially' return to how they once were, and this was no surprise considering the percentage of the population who have adapted to a "hybrid working" model as a result of the pandemic. With only 16% of respondents voting that they think face-to-face meetings will completely go back to how they were before the pandemic, it's clear that people believe the new model of working is here to stay. The working environment now appears very differ- ently to how it was pre-pandemic, and we've seen circumstances change rapidly, with organisations having to adapt quickly or risk falling behind the crowd. When the first national lockdown was instigated, many of us were thrown head first into working from home, with little to no time to prepare. The spike in MS Teams users at the start of the pan- demic is a classic example of how com- panies had to adapt quickly to remote working, with daily active users more than doubling from 32 million to 75

million in a couple of weeks, and now peaking at 145 million. LendingMetrics was fortunate to have had well-prepared contingency plans in place, meaning the team could com- mence working remotely easily and efficiently prior to the first national lock - down. The company was able to contin- ue to deliver high standards to our cus- tomers, with minimal disruption. However, without those contingency plans in place, and an ability to adapt rapidly to the changing circumstanc- es, there could have been significant roadblocks which many other compa- nies saw when commencing remote working. Businesses need to be able to change quickly, as and when needed, and the same is true when it comes to the lending industry. "The working environ- ment now appears very differently to how it was pre-pandemic"

Lenders need to be able to make rapid changes to their credit policies, to match the constantly changing circum- stances and adjust effectively to new regulations. As we saw with the recent Buy Now Pay Later controversy, regula- tory changes can happen almost over- night, and providers should be able to adjust to these as instantaneously as companies did to remote working. One way that operators can make instant changes to their policies is with Lend- ingMetrics' Auto Decision Platform (ADP) , which allows lenders to create and manipulate decisioning logic on demand and in real-time to address credit risk, KYC, fraud and affordability requirements. With the future of the working land- scape unclear, and more changes to be expected, one thing that is certain is that the ability to be flexible and adap - tive in response to changes is growing evermore important. To find out more about how ADP can allow you and your business to make real-time changes and prepare for future adjustments, book a free demo today.

Above: watch a clip from David Wylie's interview with Chris Warburton

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Q2 | 2021

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