Leading supplier of consumer credit, Omni Capital Retail Finance Ltd, is set to use an automated decisioning platform from LendingMetrics.

The finance provider, which is owned by Castle Trust Capital, has chosen LendingMetrics' ADP platform to support its OmniPort credit approval system, which allows customers to purchase immediately at point of sale using a paperless e-signature.

By using ADP, Omni will be able to make credit decisions within milliseconds and build rules, scorecards and matrices using a variety of data sources. Its operational/credit risk staff can also control changes in real time through a comprehensive and intuitive user interface.

Neil Williams, Managing Director of LendingMetrics, said:

"Following LendingMetrics training, Omni has successfully migrated to ADP with minimal business disruption. Real-time credit risk decisioning is now in place, including an interface to update rules and scorecards in real-time.”

He added:

“Our partnering with Omni takes LendingMetrics into yet another sphere of lending within the retail lending and banking sector. We are looking forward to working with Omni so that they can continue to leverage advantages from the ADP technology.”

ADP, which integrates with all major credit reference agencies, was launched in 2016 to free lenders from the cost burden of manual loan underwriting, while also giving them access to the latest data analytics and the Open Banking revolution.