LendingMetrics are delighted to announce their integration with BOX Processing LendingMetrics are delighted to be working with BOX, a forward-thinking partner in the credit solution market.
House price growth surges
Despite the country entering a second lockdown, house prices are rising rapidly as economic growth slows and uncertainty looms.
This new relationship will see the range of LendingMetrics products - including the multi-award-winning ADP product - integrated with the BOX platform to provide clients with a first class experience. The LendingMetrics and BOX open- ly-connected API suites allow for an efficient and seamless assimilation to a tested solution, providing clients with the confidence that they will be able to launch quickly and without the teething issues that are often associated with new integrations. About the integration, LendingMetrics’ Managing Director David Wylie said: “This new integration with BOX Process- ing allows us to provide our clients with more options for their lending proposi- tions. We’re delighted to be working with such a progressive company that have set themselves apart in their sector and we look forward to seeing the relation- ship continue to grow.“ Rob Macmillan, Director BOX Process- ing, added: “We’re excited to be working with LendingMetrics on this new collab- oration. We often find that our clients love our solution, but are also keen to find a supplier who can provide credit information and a decisioning solu- tion. This partnership allows us to fulfil our clients’ needs, without us breaking away from our core business.”
About BOX Processing BOX provides an API driven credit platform enabling neobanks and fintechs to generate revenue by providing innovative lending solu- tions to their consumer and SME customers. Combining conveni- ence of card transactions with flex - ibility of instalment loans enables customers to make purchases when needed but spread cost of repayment to suit budgets and income. API integration coupled with a simple product configuration mean new payment solutions can be created days rather than months. The BOX platform supports Visa and Mastercard cards through integration with card processors such as Tribe, payment providers such as GoCardless and Lending- Metrics for real-time credit risk assessment.
House price growth has accelerated across Europe, even amidst a global recession caused by the COVID- 19 pandemic. The annual rate of increase across OECD countries has risen to almost 4 per cent, with even faster rises in some European coun- tries, in particular Germany. Prices reached record highs in October in the UK, possibly due to government support schemes and tax breaks on housing sales. Govern- ment schemes, such as the stamp duty suspension, have meant that the usual economic models have been largely defied. Senior Econo - mist at HSBC Chris Hare said: ‘We had been expecting house prices to fall, [so] we’ve all had to increase our forecasts’. The surge comes with concerns however, as some financiers wonder if it’s only a matter of time before the economic fallout catches up with the soaring market. Unless an economic recovery begins soon, we could see a sudden tightening of the mortgage market, which could drastically drag down house prices.
+44 (0) 2394 211010 | www.lendingmetrics.com
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