Raphael Finance, part of Raphaels Bank, has launched the Raphael Finance Credit Gateway tool to automatically identify applications which would be declined.
The Gateway aims to build on Raphael Finance’s approach of combining automated credit assessment with ‘eyes on every case’ insight.
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Darren Greenyer, deputy head of lending at Raphael Finance said: “Speed and accuracy of decisions is vital for brokers and dealers to ensure the right customers gain access to the finance they need and help them drive away happy.
“Innovation over the last decade has seen ever-more automated decision processes for lending, but this risks the exclusion of some otherwise credit-worthy customers.
“Our goal with these new back office tools is to give our underwriters the ability to automate elements of the process without losing our ‘eyes on every case’ principle that ensures that all customers are judged entirely fairly”.
Alongside the Gatway, the lender has launched what it calls its ‘Data Waterfall’, to deliver greater customer insight and profiling to the company’s underwriters, using a range of data sources including credit history and search data.
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