Aldermore has made a significant enhancement to its small and medium-sized enterprise (SME) lending service, by increasing the scope of its automatic credit decisions to include non-limited businesses, additional asset valuations, and by increasing soft asset automation up to £100,000.
For this business, decisions are now provided back to brokers within 10 seconds.
Effective immediately, the changes apply to hire purchase and finance lease applications, enabling a broader range of lending requests to flow through Aldermore’s automated decisioning engine.
This upgrade is part of the Bank’s wider digital innovation programme, which seeks to deliver faster outcomes and a smoother journey for their brokers’ business customers.
Lee Rhodes, commercial director for asset finance at Aldermore, said: “By expanding our auto-decisioning capability, we’re reinforcing Aldermore’s pledge to back UK SMEs with cutting-edge technology and expert support.
“This change allows us to deliver more instant approvals, where they’re required, giving entrepreneurs the clarity they need to grow, without compromising on the careful credit assessment our clients rely on.
“Equally, these enhancements allow our people to focus their time and attention on the larger or more complex cases that require their expertise.”
