Case study Credit union network My Community Finance uses ADP
My Community Finance gives savers and borrowers access to ethical lenders such as Credit Unions through the Community Finance Network. The network wants to give everyone access to fairly priced and ethical financial products. Products My Community Finance were looking to move away from a hardcoded in-house loan origination system that had very limited decisioning capability, to a system with much greater flexibility and automation capabilities. LendingMet- rics were able to meet this requirement with their award-winning Auto Decision Platform (ADP). When designing the decision engine, My Community Finance’s main aim was to replicate the existing underwriting rules (eligibility, credit, affordability, KYC) into ADP as well as integrating with Experian as a new data source. They were also keen tomake use of some of ADP’s addi-
tional functionality, by passively testing new credit risk strategies to measure the potential effect on business. Approach for delivery The implementation process followed LendingMetrics’ well established project plan, spanning across 4 inde- pendent phases, led by a client dedicat- ed Project Manager. Through weekly scheduled calls, regular updates and a focused project plan, both sides were able to ensure that the project remained focused and on track. LendingMetrics also provided a con- sultancy service to help document the current decision engine, so that the system was delivered with the engine fully configured and ready for use. A member of the LendingMetrics Project teamwas always availablewhenneeded and the technical advice and guidance that My Community Finance received was invaluable in the transition.
LendingMetrics were very responsive with our requests...The speed with which we can change our underwriting Vestigo Partners, a credit risk consultancy firm, supported My Community Finance in the development and implemen- tation of ADP. Vestigo were pleased with the speed with which they can now change their underwriting rules and how LendingMetrics enabled them to easily introduce dual bureau capability.
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rules is fantastic. - Richard Pinch, Vestigo Partners
12 | Metrics Monthly
October 2019 | UK Edition
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