LendingMetrics launches new SaaS platform

LendingMetrics has announced that it has launched a new SaaS platform called DeeJoop.

The data specialist’s DeeJoop platform, which is set to be used by lenders for the first time this week, distills credit risk data from multiple bureaus to produce a ‘net’ credit file for consumers.

Using proprietary algorithms, it interrogates the large quantity of data contained in multiple Credit Reference Agency (CRA) files and removes double-counted credit commitments, defaults, mortgages, CCJs and other duplicated elements of a consumer’s credit file.

David Wylie, Commercial Director of LendingMetrics, said “We have helped countless lenders to create and refine their credit risk strategies and have done so with visibility across the CRA spectrum. This places us in the unique position to identify the challenges faced by our customers and to develop solutions to overcome those challenges. DeeJoop is what a lot of lenders have been waiting for. Finally, they have something that delivers higher match rates and better affordability assessments though a true multi-bureau solution.”

“Against the backdrop of the evolving regulatory landscape, DeeJoop ensures that lenders can make better credit decisions whilst seamlessly on-boarding more customers in an ever more competitive environment.”