project plan, spanning across 4 inde - pendent phases, led by a client dedicat- ed Project Manager. The initial phase of every ADP imple - mentation project is to ensure that all requirements have been gathered from the client, the most important of which is the design of the decision engine that will be delivered. LendingMetrics were heavily involved in this part of the process and maintained a strong line of communication with the team at Fair Finance to provide consultation and guidance on how best to design the various rules and decisions that made up their engine. Fair Finance felt confident in the project team from the initial sales conversa - tions through to delivery andwere happy with the results of the consultation pro- vided throughout the project. As a rela - tively small business, Fair Finance were pleased to find a company that was experienced in dealing with all sizes of businesses and that they weren’t over - looked in favour of larger companies. Result Having completed the implementa - tion of ADP, the first benefit that Fair Finance noticed was the significant improvement in efficiency thanks to the streamlined decisioning process. They no longer need to keep multiple spread- sheets updated; the only systems they now need to use are ADP and their inter- nal CRM system, which has meant a much cleaner and simpler process that their underwriting teams “love”. As well as the immediate benefits of
moving to an automated decision - ing tool, Fair Finance were impressed with the scalability and adaptability of ADP. With a strong focus on continued research and development, the platform is always improving and client feedback is an important part of this process.
quickly set about analysing the current underwriting model in readiness to support Fair Finance in the implemen- tation project. When designing their decision engine, Fair Finance’s main aimwas to replicate their existing underwriting process, but with some small improvements, par - ticularly around automating the decline decisions. Fair Finance’s future plans include rolling out a new strategy that includes scorecards, something which they believe would have been really challenging and cumbersome without using ADP. Approach for delivery The implementation process followed LendingMetrics’ well-established Guillaume Foucaud, Chief Operating Officer of Fair Finance, said: ADP has brought immedi- ate benefits by streamlin - ing our decision process. It is also providing us with a scalable platform to deploy new decision- ing approaches such as more complex application scorecards and using al- ternative data sources. We are very pleased we made the decision to work with LendingMetrics. “ ”
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It was great to work with Fair Finance as they set out on their journey towards a more simpli- fied and consist - ent underwriting process. We look forward to con- tinuing our part- nership over the coming years. Neil Williams Managing Director of LendingMetrics
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