Credit decision making specialist Zoot has announced that it has strengthened its partnership with Dollar. Dollar has used Zoot’s instant credit decision solution since 2014 to host their consumer lending application process for the company’s online lending businesses in the UK. This successful collaboration has now been expanded to utilise Zoot for Dollar UK’s retail portfolio under The Money Shop Brand.
Mike Blomfield, Chief Information Officer at Dollar UK said, “We wanted to implement a world-class decision-engine and scorecard system, and Zoot’s technology puts flexibility and control directly into the hands of our credit risk department. The business model supports Dollar UK’s continued drive to offer customers a diverse range of financial services.”
Adam Jackson, Managing Director for Zoot Enterprises said “The High-Cost Short-Term Credit Industry is a dynamic market. Dollar’s new loan origination solution brings speed and agility to the customer acceptance process. The Zoot solution is designed to provide maximum flexibility, maximum reliability and maximum scalability. Using Zoot, Dollar UK makes real-time changes to their lending process on a system that delivered 99.9+% availability since go-live.” “The initial Zoot solution was deployed within two months. It has allowed Dollar UK to connect new data providers and easily deploy new rules and scorecards in a matter of hours. Dollar UK continuously strives to optimise their business processes ensuring regulatory compliance and an excellent experience for their customers. We are proud to support such a forward-thinking lender.
Tony Deakin, Chief Financial Officer at Dollar UK commented: “After an extensive selection process, we chose Zoot as our preferred partner because its platform provides us with the ideal combination of deep functionality, ease of integration with data providers and the ability to have full control over our customer acceptance process in-house.”
Martyn Oswin, Dollar UK’s Head of Development IT, also added: “Using Zoot we are able to abstract complex affordability logic away from our core lending applications into the platform, with the added benefit that changes to risk scorecards can be made quickly allowing the business to react to market changes.”