People-first lender Capital Credit Union is adopting the award-winning Auto Decision Platform by LendingMetrics, in a move to enhance their credit decisioning process while ensuring a keen focus on, and respect for, their community of members.
Established in 1989, the community-owned bank is one of the UK's largest credit unions, with £45 million in assets. Capital Credit Union is passionate about making affordable credit accessible throughout East Scotland with a range of ethical financial services.
With almost 25,000 members, Capital Credit Union had a need to operate at high lending volumes, as well as being able to rapidly adapt to changes in the market. The union's dedication to its members brought with it a broad spectrum of financial situations and challenges unique to each member, and Capital Credit Union required a solution which could accommodate these challenges. The firm ultimately chose LendingMetrics as a strategic partner, who will work closely with them to implement their industry-leading Auto Decision Platform, and configure it to their specific needs, over the coming months.
ADP is capable of delivering decisions to prospective borrowers at extremely high speed, typically within 1-2 seconds. Applications are processed via sophisticated decisioning logic, which can vary based on applicants' financial requirements or choice of products. Building new rules or making changes to existing ones can be accomplished without any coding knowledge.
“We are delighted to be working with Capital Credit Union on this project and are looking forward to delivering our industry-leading solution into their business over the coming months,” says David Wylie, Commercial Director of LendingMetrics. “This new integration will allow them to provide clients with more options for their lending propositions,”