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FCA announce new strategy for positive sustainable change This quarter saw the events of COP26 take place, and there was plenty to talk about as the Glasgow Climate Pact was created, the US and China pledged to cooperate more over the next decade and leaders from 100 countries prom- ised to stop deforestation by 2030. new strategy unveiled, which outlines how the regulator plans to work towards making the UK the world's first net zero financial sector.
Rathi quite rightly stated that 'business- es, governments, regulators, financial service firms and individuals all have a part to play in tackling the climate crisis', and this is becoming more apparent than ever. One of the main features of the FCA's new strategy is their aim to help mobi- lise the capital needed to keep emis- sions in check. The regulator plans to build a trusted market and interna- tionally consistent frameworks and standards.
Whilst these pledges are all positive, they did pose the age-old question: how will all of this be paid for? One of the less discussed moments was when CEO of the Financial Conduct Authori- ty, Nikhil Rathi, gave a speech outlining the FCA's new strategy for positive change . As an FCA regulated credit reference agency, we were pleased to see this
Unsecured loan specialist Creditstar impliments ADP Creditstar have successfully implimented Auto Decision Platform by LendingMetrics to assist underwriting team.
The loan provider was keen to include third party credit data in their applica- tion processes, and it became appar- ent that automating their underwriting process was the most effective way to do this. In 2019, the company spoke with financial technology and data spe - cialist LendingMetrics, with the view to launch a new product that would utilise automated decisioning. Creditstar was aware that they wouldn’t have been able to build something internally because it would have been too large of a project for their IT team, so by adopting Auto Decision Platform (ADP) they were able to tap into Lend- ingMetrics’ existing connections and expertise in the field. Now, the company is running ADP with a small underwrit- ing team that are able to underwrite a large number of loans thanks to auto- mated decisioning.
Creditstar particularly recognise the value of ADP’s powerful decision engine editor as it puts them in control of credit rule changes and allows operation- al staff to make changes in real-time through its comprehensive user inter- face. The team were able to learn how to use the editor very easily and, once the concept was fully understood, have found it straightforward and intuitive. LendingMetrics continue to support Creditstar with their usage of ADP, and also The LendingMetrics Exchange, and the lender has found that assis- tance is always provided quickly by LendingMetrics’ dedicated support team. They particularly valued the input from Chief Technology Officer Neil Wil - liams, who was exceptionally generous with the level of guidance he provided and this significantly aided Creditstar in setting up well.
"In terms of external products, I can’t think of anything better in the market and I would recommend ADP to anyone that would benefit from it. It has been a joy working with LendingMetrics and I couldn’t ask for anything more.” Neil Pool Chief Operating Officer
www.lendingmetrics.com
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