Metrics Monthly Q1 | 21


Case study Propensio Finance implement assisted decisioning in preparation for anticipated growth in volume

About Propensio Propensio Finance is a specialist lender in the aspirational lifestyle sector and aim to help customers spread the cost of their purchase with a range of borrowing requirements and credit his- tories to suit prime and non-prime bor- rowers alike. With over 20 years’ expe- rience in the industry, Propensio can often accept applications that other lenders may not, for projects as diverse as buying a static caravan or installing a garden office or solar panels, with an emphasis on treating their customers like people. Why LendingMetrics? Propensio had already been working with financial technology provider Lend - ingMetrics since 2019, utilising their

Open Banking product OpenBankVi- sion (OBV ) to access bank statement data in order to accurately assess the affordability of their customers. They enjoyed working with LendingMetrics, and liked how the company operated, so when they recognised that there was a need to enhance their underwriting process, LendingMetrics’ competitively priced Auto Decision Platform (ADP) was the clear solution. The specialist lender had been hesitant about automation in the past but wanted to prepare for an anticipated growth in volume, and make their underwriting process more consistent, robust and scalable. Having used manual under- writing for 9 years, Propensio were apprehensive about moving away from this, but LendingMetrics demonstrated

how ADP could be used to assist deci- sioning, not only fully automated it, and this made the decision to adopt the underwriting platform much simpler. ADP can be used alongside manual underwriting processes and Open Banking solutions, in order to increase lending volume without increasing head count. What’s more, ADP has the ability to test improvements to a credit policy using passive engines, allowing testing of new logic and scorecards without effecting the consumer journey. In addi- tion, Propensio wanted to use a plat- form separate to their loan system in case there was a need to move things in the future, and ADP was able to provide just that.

24 | Metrics Monthly

Q1 | 2021

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