Borro believes 2017 will see larger lenders of all types step back from a reliance on technology as their primary underwriting resource.

The secured lending platform uses human underwriters to assess cases.

Claire Barrington-Jones, director of sales at Borro, believes the time is right to see a change of underwriting emphasis across the industry.

She said: “The success of smaller lenders in assessing and granting loans to clients that larger lenders have rejected, is testament to the value of experienced underwriters. They are able to assess suitability from the perspective of the lender and the borrower which ensures a compliant balance between good client outcomes and prudent lending practice.

“Technology is a tremendous helpmate for modern lenders particularly for initial assessment but will never be able to replace the accumulated experience of their human counterpart in dealing with complex cases that many times fall outside the norm.

“2017 could well be looked back on in the future as the year that the underwriter was again centre stage across the market.”