Q1 2023

54 | Q1 2023 Feb23485 A Positive Disruptor As the Co-Founder of LendingMetrics, I am proud that we are considered to be one of the most innovative and trusted technology partners in the credit industry. LendingMetrics deliver multi-awardwinning enterprise credit decisioning software and data solutions to banks and mortgage lenders, SMEs, consumer and auto/asset finance lenders, and everything in between. Of the many lenders we currently count as clients, it is fair to say most were sceptical of our ability to automate a decisioning process which is generally more complex than the average consumer loan assessment. The fact that we were able to show our clients how this could be done, and deliver on our promises, has been particularly rewarding. Positive disruptor LendingMetrics is a champion of disruptive technology, delivering some of the most powerful automated and assisted decisioning software on the market, in a cost-effective SaaS solution, accessible to lenders large and small. Since our launch of ADP (Auto Decision Platform) six years ago, we have gained an enviable reputation amongst our vast array of clients. We are known to have the most sophisticated yet intuitive decision engine interface, which allows lenders to autonomously build, edit, test and deploy their decisioning strategy in minutes. ADP is integrated to over 120 data sources including the major CRAs; it fully supports Open Banking and has the ability to execute machine learning and AI algorithm responses. Due to its modern architecture, it is simple to incorporate into a lender’s existing technology landscape. As a technology partner, we place a huge focus on the word “partner” and since our launch in 2010 we have put together a fantastic and dedicated team of professionals who understand the need to put our customers at the centre of everything we do. This approach has resulted in extremely high customer satisfaction scores and clients wishing to state on the record, both in print and on screen, just how happy they are with LendingMetrics and how much we have helped their business to succeed. For instance, we recently recorded a video case study with Evolution Money following their use of ADP for the past four years, which can be found on our website. Innovation Despite the appeal of what we have to offer, LendingMetrics is far from complacent; we push ourselves every day to innovate and to deliver improved and more powerful solutions to our customers and to the wider industry. One recent example of this innovation is DeeJoop. As many lenders will know, it is often necessary to call more than one credit search on an applicant. This may be because they cannot be found by the first bureau, maybe their credit file is too thin with one bureau or maybe the lender simply wants to be certain that all credit commitments have been considered before an affordability assessment is carried out. However, the calling of multiple searches brings with it the problem of duplication and inconsistent data which causes a very confusing picture for affordability assessments. Our team of credit risk and technology experts spent several years listening to customers’ concerns and working on solutions to their problems. In late 2022 we launched DeeJoop, an automated service which deduplicates, distils and standardises data received across multiple bureaus, and gives the lender one reliable and comprehensive summary of the data to be used within their decision engine. The platform is already live with pioneer clients and initial feedback is excellent. We are inviting lenders to carry out a free trial or even a free retro of the service to see for themselves how powerful and game-changing DeeJoop is. Lenders wishing to make use of the free trial can do so without the need to change their CRA or their current decisioning platform. Enquiries can be made via our booking form. 360˚ Support Having helped so many clients with our technology and data products, it seemed only right that we should complement those solutions with a service to help lenders with one of their biggest challenges: credit risk expertise. We are therefore delighted to now be offering credit risk consultancy services and have spent the past three years building a strong and multi-talented team capable of, amongst other things, data retro-analysis, engine design and scorecard calibration. This important piece of the jigsaw ensures that we not only have the technology and data tools to help our customers to succeed and excel, but we also have the expertise on hand to show them how to leverage those tools to deliver better credit risk and consumer outcomes and to get ahead of the competition. Outlook The last three years have seen a sharp increase in the cost of living, rising interest rates and even the prediction that winter would bring the possibility of power blackouts. But, in my view, there is real cause for optimism in the second half of 2023. There seems to be progress in resolving the striking public sector, interest rates have peaked and are expected to fall later this year, consumer spending and treasury revenues have held up very well, and inflation is already starting to fall back. So, my hope and expectation is that as summer arrives and many of these negative factors are put behind us, 2023 and 2024 will prove to be considerably more positive than was predicted only a few months ago. Contact: David Wylie Company: LendingMetrics Web Address: www.lendingmetrics.com “ LendingMetrics is a champion of disruptive technology, delivering some of the most powerful automated and assisted decisioning software on the market to lenders large and small. ” David Wylie is Commercial Director of LendingMetrics.