LendingMetrics is partnering with Experian to help facilitate the growth of its LMX data platform.
LendingMetrics says it has enjoyed significant commercial success with the LendingMetrics Exchange (LMX) since partnering with Equifax Ltd in 2012 and it now intends to build upon that with the news that Experian products will also now be available via LMX.
Lenders can now access multi-bureau credit reference data, affordability, AML and bank account verification services via LendingMetrics’ ‘white glove’ service.
In addition, by aggregating transaction volume across its broad customer base, LendingMetrics is able to secure commercially attractive terms which can then be passed onto its customers.
David Wylie, LendingMetrics’ commercial director, said: “the success of LMX to date has been amazing. We pay tribute to Equifax in helping us to achieve this and we strongly believe that they will continue to play a pivotal role as we grow further.
“As our market presence has expanded via the dramatic growth in our automated credit decisioning platform ADP, so have the demands and level of sophistication of our clientele. For this reason we see the added partnership with Experian, the UK’s largest credit reference agency, as the natural evolution as we look to address requirements such as multi-bureau decisioning and sector specific coverage.
“This announcement means that, for example, lenders can benefit from a multi-bureau solution via one unified LMX API, as well as one commercial commitment and one point of contact, all wrapped up in highly competitive terms. This is a unique approach and we look forward to sharing the benefits with our customers.”
