Credit, collections & insolvency news
LendingMetrics’ has announced that its ADP platform is being used to upgrade Hinckley & Rugby Building Society’s lending platform.
ADP’s automated underwriting technology is being harnessed by the mutual lender to provide rapid screening of prospective borrowers, ensuring affordability and compliance parameters are met. The universally-integrated SaaS solution handles real-time execution of credit reference, AML and affordability calls to the major credit reference agencies.
Benefits will include a reduction in time-to-decision and immediate application feedback. This will free the lender’s underwriters to focus on areas that need more consideration.
David Wylie, Commercial Director of LendingMetrics, said “We are delighted that Hinckley & Rugby has decided to utilise the best-in-class features of ADP to underpin the onboarding of borrowers. Our platform gives users unmatchable insight into the finances of prospective clients, enabling them to make optimal affordability decisions.”
Jaja Finance has announced that it has reduced customer response times by 90% using a newly launched Generative Artificial Intelligence (GenAI) chat assistant called Airi. The new technology means that the digital lender can now answer customer enquiries in just under fifteen seconds, versus the three minutes it took prior to launch. Having already had…
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Experian has announced a partnership with Oakbrook, a non-bank provider of consumer lending solutions. The partnership will man that the lender will use Experian Boost data in its decisioning process for personal loan applications. Experian says that the partnership will increase access to credit for customers who traditionally may not have been eligible – driving…
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April Mortgages has announced that it has appointed Rachael Hunnisett to the post of Director of Mortgage Distribution. Hunnisett boasts more than a decade of experience in financial services, including time within mortgage lending, distribution and sustainability, where she worked closely with government, lenders, distributors and brokers across the country. Mark Eaton, Chief Operating Officer…
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