LHV Bank is to go live with ADP from LendingMetrics.
The platform will enable LHV bank to make credit decisions within milliseconds and build rules, scorecards and matrices using a variety of data sources. LHV’s operational/credit risk team will control changes in real time through a simple user interface.
David Wylie, Commercial Director of LendingMetrics, said: "LendingMetrics is firmly established as the go-to provider for rapid onboarding of automated decisioning, which is key for lenders wishing to grow business profitably. The new platform not only allows LHV to execute sophisticated and individual decisions in real-time, but also modify policies, algorithms and risk appetite instantly.”
Kris Brewster, Director of Retail Banking at LHV Bank, commented:
“We are excited to be working with LendingMetrics and integrating their systems into our cutting-edge banking technology and App. This partnership supports our ambition to deliver a seamless and intelligent credit experience for our customers, starting with our regulatory application to offer overdrafts as part of our innovative new current account offering currently in development.”
LHV began operating in the UK in 2018 as a branch of the Estonian-based AS LHV Pank, but since securing its UK banking licence in May 2023 functions as a standalone entity, LHV Bank Limited. The bank provides services such as banking for global fintechs, SME lending for UK businesses, and personal savings accounts in partnership with Raisin UK. Its offices support over 200 fintech clients and a growing retail and lending portfolio.
