Scotwest Credit Union has announced plans to adopt LendingMetrics’ Auto Decision Platform (ADP) to enhance its underwriting process, providing faster decision-making and improved customer service.
The Glasgow-based provider, which offers loans and savings accounts, is set to go live with the technology in the coming weeks.
ADP, a cloud-based SaaS platform, enables real-time credit reference, AML, and affordability checks, delivering application decisions in seconds.
By automating routine assessments, the platform allows Scotwest’s in-house underwriters to focus on applications requiring expert review.
The adoption of ADP follows LendingMetrics’ recent agreement with Hinckley & Rugby Building Society, which is also integrating the platform.
Scotwest and Hinckley & Rugby both cited the speed of customer assessments and the ability to adjust lending criteria without reliance on IT teams as key factors in their decisions to adopt the technology.
David Wylie, commercial director of LendingMetrics, said: “After considering a range of options, Scotwest decided ADP represented their optimal choice.
“They particularly liked the facility to change rules in real-time by using a simple editor interface.
“This last feature enables clients to rapidly increase or decrease lending flexibility according to their risk appetite.”
