The lender is set to go live with the feature in the coming weeks and the platform will allow LHV Bank to make credit decisions within seconds, as well as build rules, scorecards and matrices using multiple data sources.
LHV Bank’s operational and credit risk team will control the changes in real time with 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, added: “We are excited to be working with LendingMetrics and integrating their systems into our cutting-edge banking technology and app.
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“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.”
The bank’s financial results for 2024 showed it closed the year with a profit before tax of £4.1m.
