Credit, Collections & Insolvency News
LendingMetrics has announced a partnership with finance provider TFS Group.
TFS, which specialises in ‘guarantor’ unsecured credit and lending to those unable to access high-street banks, is now using LendingMetrics’ award-winning automated underwriting platform Auto Decision Platform (ADP), together with its LMX and OpenBankVision products.
Having used credit reference data, TFS Loans wanted to use the latest Open Banking technology to get 100% accurate customer risk profiles and lend more effectively. By adopting ADP, it has been able to easily identify creditworthy applicants, reflect learning from previous lending, execute changes quickly, and manipulate logic autonomously.
Neil Williams, Managing Director of LendingMetrics, said “TFS wanted to be able to make rapid affordability and suitability decisions based on real-time data. ADP provides this and, by offering an initial retro, we were able to show what sort of data they could receive and then supported them during the integration process as well as after delivery.”
Daniel Everritt, General Manager of TFS Loans, said “We’re really pleased that LendingMetrics has delivered everything that ADP promised and appreciate the level of support the team continue to provide to us.”