Case study - UK Our UK-based case study is about how not-for-profit lender Fair For You appoint LendingMetrics to automate decisions Fair for You (FFY) is an award-winning, not-for-profit alternative to weekly payment stores. Consum - ers purchase items such as white goods and bedroom furniture directly from FFY suppliers by taking out a loan with them and repaying in flexible instalments. About
their plans to significantly grow their loan book. Fair For You had their own in house Credit Risk Officer who designed their decision engine using Call Credit’s core bureau products and also Lending- Metrics’ OpenBankVision (OBV) product to collect 90 days of bank statement data. Their aim was to design a deci- sion engine that could automate as many decisions as possible, delivering good quality leads into the underwriting team so that agent workflow could be driven by tasks from the ADP, based on the warning rules that have been hit and thus improve productivity.
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FFY state that applicants only pay what they can afford, when they can afford it and the faster they pay it off, the less they pay. FFY are a not-for-profit Com - munity Interest Company (CIC) and members of Social Enterprise UK. They state their product is supported and designed by the consumer and that they are using the power of business to bring about social change. Approach LendingMetrics were appointed by FFY to implement ADP to support FFY in
We were excited that this ADP appointment took us into yet another sphere of lending within the retail sector, with ADP now implemented across many different markets. - Neil Williams, CTO
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16 | Metrics Monthly
August 2020 | AU Edition
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