The speed with which credit and financial services are being delivered has never been faster. Consumer expectations demand that decisions must be made more quickly than ever before. Credit providers are under pressure to deliver speed whilst maintaining risk integrity.
The introduction of automated lending decisions bring huge opportunity for the financial services sector to quickly deliver increased volume with reduced overhead. But with such high velocity decisions come high velocity risks. Fraud and credit risks are well known but increasingly it is the compliance risk that is taking centre stage. Regulators are requiring credit providers to constantly improve their assessment of the borrower’s ability to repay debt and thereby prevent over indebtedness. Easier said than done when loans can be granted in seconds!
LendingMetrics is a new breed of Credit Reference Agency and TrueTime® is a new type of data delivery. Created for the ever faster digital world of lending, our services run in real-time. The data we supply is the data we receive, in real-time. So say goodbye to dated data and say hello to TrueTime. For more information call us now on 00 44 (0) 845 544 2823