Auto-assisted underwriting technology helps us speed up decision making

Nottingham Building Society, one of the UK’s largest mutual building societies committed to helping people own their own homes, has adopted auto-assisted underwriting technology to speed up decision making and underpin its focus on customer service. 

The building society has integrated its use of LendingMetrics’ award-winning Auto Decision Platform (ADP). The platform is a universally integrated SaaS solution that handles real-time execution of credit reference, anti-money laundering (AML), and affordability calls to data providers. 

It will allow Nottingham Building Society to instantly inform introducers of decision outcomes, while freeing its in-house team of underwriters to focus on areas needing more expert input. The system will also support the development of innovative new propositions enabling them to lend where others may not.  

As part of the transition, Nottingham Building Society will maintain full control over credit policy and operational adjustments via the unique and multi-award-winning ADP Editor interface. The switch to LendingMetrics’s ADP was made after a thorough tendering process supported by a number of face-to-face workshops.  

Commercial Director of LendingMetrics, David Wylie, said: “We are delighted to have been chosen by Nottingham Building Society which, after undertaking in-depth research into all the available auto underwriting platforms, decided that ADP offered the optimal solution. The society has been a pleasure to work with and we now look forward to helping with plans to further optimise decisioning.’ 

Simon Baum, Chief Risk Officer at Nottingham Building Society, said: “Our partnership with LendingMetrics marks a transformative step forward for Nottingham Building Society, empowering us to deliver faster, more reliable lending decisions." 

“With the ADP platform, we are enhancing our service to brokers, providing instant responses that help them support clients more effectively. For our customers, this means a smoother, more inclusive experience - especially for those with unique financial situations. We are excited to bring this innovation to the market, advancing our commitment to accessible homeownership.”

About LendingMetrics 
LendingMetrics is a multi-award-winning financial technology and data specialist. Its Auto Decision Platform (ADP) leads the way in assisted decisioning in the financial services sector, allowing lending approvals to be made in seconds rather than days. Since it was launched in 2016, ADP has permitted businesses to rapidly deliver increased lending volume, improve decision quality and reduce overheads. The platform utilises proprietary data solutions and is linked to all major credit rating agencies (CRAs) and other third parties, including Open Banking platforms. LendingMetrics is registered as a CRA and AISP Open Banking provider and is authorised and regulated by the Financial Conduct Authority. It was named ‘Best Credit Risk Solution’ at the Credit & Collections Technology Awards four years running, and ‘Best Technology Partner’ at the Car Finance Awards of 2020. Additionally, it was named an Organic Growth 25 business after demonstrating high levels of growth and has featured as a top 20 ‘premier’ company on the Credit & Collections Power List two years in a row. The company’s robust technology and data infrastructure and ‘blue-chip’ partnership ecosystem focus on delivering scalable and secure affordability, suitability and predictive solutions to the financial sector.