Case Studies

We work with some of the best people in their industries. Below are some of their stories.

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Evolution Money

Evolution Money chooses LendingMetrics for its credit decisioning

The Challenge

Evolution Money appointed LendingMetrics to support its continued growth by incorporating a much faster, flexible and openly connected decisioning platform that wasn’t available within their current Loan Management Systems. Evolution Money required a decisioning platform that could make immediate credit decisions within milliseconds, whilst allowing them the flexibility and functionality to build detailed and composite rules, scorecards and matrices, over a variety of data sources. Evolution Money also needed a platform with an extensive testing environment to champion challenge and evaluate new aspects of their decisioning, in order to finesse and improve their lending decisions over the coming years. As part of these credit risk plans, Evolution Money needed a significantly more open and accessible platform to integrate with, for the retrieval and utilisation of various additional data sources.

The Result

Since the launch of ADP within Evolution Money, they have been able to utilise a decisioning platform which has produced a scaleable model within their online customer journey to automate their credit risk policies. The solution was delivered within budget and on time, due entirely as a result of the collaborative and knowledgeable teams at Evolution Money and LendingMetrics. Following training, the Evolution Money team is now using the ADP interface to change their credit decisions in real time, “champion challenge” their rules and analyse the results within ADP.

Omni Capital

Omni Capital Retail Finance Choose ADP For Their Decision Engine Technology

The Challenge

Independently owned Point of Sale Finance Specialists, Omni Capital Retail Finance Ltd, wanted to take a leap forward with their automated decisioning in addition to finding a solution which could integrate into their sophisticated credit approval system: OmniPort.

The Result

Following LendingMetrics training, Omni have successfully migrated to ADP with minimal business disruption and are now enjoying the benefits of real time credit risk decisioning, including operating the interface to update their rules and scorecards in real time. The combination of highly automated decisions and long industry experience delivered a scaleable solution. Omni and LendingMetrics are both looking forward to working together on phase 2 of the project to continue to develop Omni’s product offering and utilise ADP to its full potential by implementing a multi-bureau approach.

Specialist Motor Finance

Specialist Motor Finance “SMF” (a subsidiary of IM Group) launched Inisium to lend through dealer groups, independent dealers and brokers and to offer an alternative car hire purchase product throughout the UK.

The Challenge

The solution SMF required, needed to be capable of handling decision requests from multiple distribution sources at a high velocity and the decision logic needed to be fully under the control of the Specialist Motor Finance credit risk team via a comprehensive user interface.

The Result

SMF had looked at several other alternatives to ADP but found nothing with such a comprehensive user interface which ticked all the boxes. Moreover, all of the other options, inexplicably, carried huge six-figure build fees which put them out of the reach of many challenger lenders. Consequently SMF had no hesitation in choosing ADP by LendingMetrics. Teams on both sides are now busy implementing the project.

My Community Finance

My Community Finance gives savers and borrowers access to ethical lenders such as Credit Unions through the Community Finance Network. The network wants to give everyone access to fairly priced and ethical financial products.

The Challenge

When designing the decision engine, My Community Finance’s main aim was to replicate the existing underwriting rules (eligibility, credit, affordability, KYC) into ADP as well as integrating with Experian as a new data source. They were also keen to make use of some of ADP’s additional functionality, by passively testing new credit risk strategies to measure the potential effect on business.

The Result

My Community Finance have successfully launched ADP within budget and on time and are reaping the benefits of a system with the flexibility to make strategical changes quickly, without needing to process a lengthy change request with their IT team.

Places for People

Places for People is one of the largest property and leisure management, development and regeneration companies in the UK and owns or manages around 180,000 homes.

The Challenge

As a lender with a strong social conscience and in order to give the fairest possible deal to their customers, Places for People Financial Services' interest rates would be lower than the industry average so margins would be relatively tight. It was therefore necessary to have a loan management platform that would introduce considerable automation and intelligence so that staff recruitment could be kept to a minimum. The solution must also have a proven track record and pay close attention to security.

The Result

Places for People Financial Services successfully launched on time in early 2016 and have enjoyed solid performance and on-target triple-digit growth rates. By leveraging the system’s features which offer significant automation of credit decisioning and loan processing, they have been able to significantly increase business levels without increasing their head count. This has delivered a sustainable and scalable model that delivers the fairest lending rates to customers who in some cases may have resorted to borrowing from higher rate lenders.

NextCredit

Nextcredit upscale their online lending operation, through LendingMetrics credit decisioning platform.

The Challenge

LendingMetrics were appointed by Nextcredit to support the growth of their online lending operation by providing a more automated process as well as an underwriting tool. Alongside this, Nextcredit also required credit referencing and anti-money laundering checks, which LendingMetrics provided through their LMX platform.

The Result

Since the launch of the ADP and LMX platforms, Nextcredit has enjoyed solid performance and growth but most importantly their decisioning model is now highly scalable.

Fair For You

Fair for You (FFY) is a new, award-winning alternative to weekly payment stores. As a not for profit organisation the consumer purchases items such as white goods and bedroom furniture directly from FFY suppliers by taking out a loan with them and repaying in flexible instalments.

The Challenge

Fair For You had their own in house Credit Risk Officer who designed their decision engine, using Call Credit’s core bureau products and also LendingMetrics BankVision product to collect 90 days of bank statement data. Their aim was to design a decision engine that could automate as many decisions as possible, delivering good quality leads into the underwriting team so that agent workflow could be driven by tasks from the ADP, based on the warning rules that have been hit and thus improve productivity.

The Result

FFY UK successfully launched and importantly, now have a decisioning model which is highly scalable. ADP was delivered on time and within budget without any upfront fees from LendingMetrics, making the award winning (Credit-Connect ‘Best Credit Risk Solution 2018’) platform a cost-effective solution without compromising on functionality.

Loans2Go

Loans 2 Go have been at the forefront of Log Book loan lending since 2002 and continue to set the pace with a loan product that is fast, simple and convenient for their customers.

The Challenge

Loans 2 Go, appointed LendingMetrics to support the launch of their online lending platform, offering automated flexible loans to suit the consumers’ needs. As part of their approach LendingMetrics, provided credit risk advice to assist Loans 2 Go in producing their decision engine and assisted the team so that their understanding of the consumer data grew throughout, attending regular meetings both prior to and during the implementation phase in order to assist Loans 2 Go and to share their industry experience.

The Result

LendingMetrics delivered a service which produced a scalable model, allowing Loans 2 Go to successfully launch their online presence and look to increase their lending portfolio using the ADP platform and associated services. The solution was delivered within budget and on time, due entirely as a result of the collaborative and knowledgeable teams at Loans 2 Go and LendingMetrics. Following training, the Loans 2 Go team are now using the ADP interface to change their credit decisions in real time, champion challenge their rules and analyse the results within ADP, as well as using the Equifax suite of products and BankVision.

Street UK

Since 2002 as an online and branch lender, Street UK "The Affordable Finance Company" has provided affordable finance for everyday living and pride themselves on being an ethical loans company.

The Challenge

Street UK needed someone to support the re-launch and growth of their online lending operation; offering affordable personal loans with a clear transparent model.

The Result

Street UK successfully launched, enjoying solid performance and growth and most importantly with a highly scalable decisioning model. The ADP solution was delivered within budget and on time. Following ADP training the Street UK team are now using the ADP interface to autonomously manage their credit decisions in real time, champion/challenge their rules and analyse results in order to inform future rule changes.