LHV Bank is preparing to go live with a new platform that will speed up its lending decisions.
The lender will deploy ADP software from LendingMetrics over “the coming weeks” at offices in London, Leeds and Manchester.
It says the technology will allow it to make credit decisions “within milliseconds” and build scorecards from a variety of data sources through a simple user interface.
The bank offers specialist buy-to-let and commercial loans among other services.
LHV Bank director of retail banking Kris Brewster says: “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.”
LendingMetrics commercial director David Wylie adds: “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.”
LHV Bank gained a UK banking licence in May 2023 after it began operating in Britain in 2018 as a branch of Estonian-based AS LHV Pank.
