Tuesday, June 18, 2024

The Cash Platform companions with LendingMetrics

The Cash Platform has partnered with credit score information firm LendingMetrics to hurry up its credit-decisioning processes.

The peer-to-peer shopper lender will use LendingMetrics’ Auto Choice Platform (ADP) to carry out affordability checks quickly throughout an array of built-in information sources, whereas providing prospects higher transparency and selection.

Learn extra: The Cash Platform shifts focus to ‘underserved’ millennial debtors

The Cash Platform offers loans to so-called ‘thin-file’ prospects, who’re often underserved by the mainstream credit score market.

As a shopper lender, the platform felt the present local weather of macroeconomic change necessitated an answer which might roll out modifications rapidly to satisfy their prospects’ particular person challenges.

It sought to accomplice with an answer that would accommodate a excessive quantity of transactions, in addition to enabling the platform to reply quicker than rivals to modifications within the lending panorama.

Learn extra: Serving the underserved: The Cash Platform’s George Huntley

“We’re happy that The Cash Platform has determined that ADP gives the most effective, future proofed answer to their challenges, and people of their prospects,” stated LendingMetrics industrial director David Wylie.

“Quick and dependable automated decisioning is essential to their ongoing imaginative and prescient, and LendingMetrics are delighted to be delivering our award-winning answer to assist obtain their targets. Our workforce is trying ahead to serving to them attain full autonomy over their decisioning logic, in addition to supporting them of their future endeavours.”

Learn extra: The Cash Platform studies decrease than forecast defaults

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