Reward Finance Group has adopted new underwriting technology to speed up decisioning and underpin its focus on customer service.
The alternative finance specialist will phase in its use of LendingMetrics’ Auto Decision Platform (ADP) over the coming weeks.
The platform – a SaaS solution that handles real-time execution of credit reference, AML and affordability calls to data providers – is designed to provide Reward with information to aid its decision-making, while freeing its in-house team of underwriters to focus on areas needing more expert input.
David Wylie (pictured), commercial director of LendingMetrics, said: “Having sophisticated automated decisioning is becoming an essential ingredient for lenders wanting to maximise service levels.
“This investment is going to place Reward in a very strong position going forward because the new platform not only allows it to execute sophisticated and individual decisions in real-time, but also modify policies, algorithms and risk appetite instantly.”
Sharon Ellis, strategy & programme director of Reward Finance, added: “Partnering with Lending Metrics will be a key component in the transformation of our underwriting process.
“By providing us with increased efficiency, accuracy and risk mitigation, our teams can spend more time doing what they do best – understanding our clients and their businesses to provide the most appropriate financial solutions.”
