Credit, Collections & Insolvency News
Lender, Fair Finance. has announced that it has implemented automated decisioning technology with LendingMetrics.
Fair Finance specialises in providing loans to those excluded from mainstream lending, has switched from a completely manual underwriting process to one using LendingMetrics’ award-winning automated Auto Decision Platform (ADP).
David Wylie, Director of LendingMetrics, said “Fair Finance was keen to find technology that would automate its underwriting process and take lending to a new level of efficiency. It now has in place a future-proofed system that allows for ongoing decisioning changes and new third-party data suppliers.”
“We were able to show that automation can be used to simplify the parts of the process that involve black and white decisions, leaving the underwriting team to review the results for rules that might still need a human touch.”
LendingMetrics was awarded the contract following an open tender process. This involved an external consultancy performing an option analysis on the various providers.
