Melton Building Society Partners with LendingMetrics to Revolutionize Underwriting with ADP
By Effie Foxtrot · 14 September 2023
In brief: Melton Building Society has partnered with LendingMetrics to deploy its Auto Decision Platform (ADP), enabling real-time credit, AML, and affordability checks for its underwriting team.
| Solution Name | Auto Decision Platform (ADP) |
|---|---|
| Company Founded | 1875 |
| Technology Type | SaaS Decisioning Software |
Quick Summary
Melton Building Society is implementing LendingMetrics ADP to automate its credit decisioning process. This partnership enables the 150-year-old mutual to perform real-time credit checks, AML, and affordability assessments, significantly enhancing the speed and accuracy of its mortgage underwriting team operations.
How Does LendingMetrics ADP Improve Mutual Lending?
By integrating LendingMetrics ADP, Melton Building Society gains access to a universal SaaS solution that streamlines complex data gathering. The platform handles real-time execution of critical checks, including credit references and AML compliance calls, directly to major agencies. This automation allows the society to:
- Reduce manual data entry errors.
- Accelerate the time-to-decision for members.
- Ensure robust affordability assessments.
The Auto Decision Platform acts as a central hub, allowing the underwriting team to focus on complex cases while the software manages standard automated credit decisioning workflows.
What Results Can Melton Building Society Expect?
The implementation of LendingMetrics ADP is designed to modernize a legacy institution founded in 1875. By moving to a next-generation decisioning model, the society can scale its lending volume without a linear increase in overhead. Key metrics targeted include instant credit reference responses and automated affordability verification, which are essential for maintaining competitiveness in the modern mortgage market.
"We are delighted that ADP has, once again, been chosen as the best solution. Melton Building Society has been a pleasure to work with and we now look forward to a successful implementation of what has become the finance industry's leading underwriting solution." said David Wylie, Commercial Director of LendingMetrics.
FF NEWS TAKE:
This partnership proves that even the most established mutuals recognize that LendingMetrics ADP is essential for survival in a digital-first market. By automating real-time credit reference calls, Melton Building Society is not just updating its tech stack; it is fundamentally protecting its underwriting team from burnout while improving the member experience. It’s a clear signal that automated decisioning software is no longer optional for regional lenders.
Frequently asked questions
What is LendingMetrics ADP and how does it work?
LendingMetrics ADP (Auto Decision Platform) is a SaaS solution that automates credit decisioning. It performs real-time execution of credit reference, AML, and affordability checks by connecting to major credit agencies, allowing lenders like Melton Building Society to process applications faster and more accurately.
Why did Melton Building Society choose LendingMetrics?
Melton Building Society chose LendingMetrics to support its underwriting team with next-generation decisioning software. The goal is to modernize their manual processes using the award-winning ADP solution to handle real-time data calls and improve operational efficiency.
How will this partnership affect mortgage applicants?
Applicants at Melton Building Society can expect faster decision times. By using LendingMetrics ADP for real-time affordability and credit checks, the society reduces the time required for manual underwriting, leading to a smoother and quicker mortgage approval process.
About the companies
Companies in this story: LendingMetrics, Melton Building Society
People in this story: David Wylie