Nottingham Building Society has adopted LendingMetrics’ auto-assisted underwriting technology.
The mutual has taken the decision to speed up its decision-making.
It has integrated its use of LendingMetrics’ Auto Decision Platform (ADP), a SaaS solution that handles real-time execution of credit reference, anti-money laundering (AML), and affordability calls to data providers.
The move to LendingMetrics’s ADP was made after a tendering process supported by a number of face-to-face workshops.
The society says it will be able to “instantly” inform introducers of decision outcomes, while freeing its in-house team of underwriters to focus on other tasks.
NEW POSSIBILITIES
The platform will also support the development of new propositions, which could result in the Nottingham lend where others may not.
As part of the transition, Nottingham Building Society will maintain full control over credit policy and operational adjustments via the ADP Editor interface.
David Wylie, commercial director of LendingMetrics, said: “We are delighted to have been chosen by Nottingham Building Society which, after undertaking in-depth research into all the available auto underwriting platforms, decided that ADP offered the optimal solution.
“The society has been a pleasure to work with and we now look forward to helping with plans to further optimise decisioning.”
“we are enhancing our service to brokers, providing instant responses that help them support clients more effectively”
Simon Baum, chief risk officer at Nottingham Building Society, added: “Our partnership with LendingMetrics marks a transformative step forward for Nottingham Building Society, empowering us to deliver faster, more reliable lending decisions.
“With the ADP platform, we are enhancing our service to brokers, providing instant responses that help them support clients more effectively.
“For our customers, this means a smoother, more inclusive experience – especially for those with unique financial situations. We are excited to bring this innovation to the market, advancing our commitment to accessible homeownership.”
