The AI Banking Revolution Is Here: Open Banking APIs Explained AI banking, it sounds like a concept pulled from the pages of science fiction, but it’s very real. If you’re
Automated underwriting for car finance providers
When providing loans in the car financing and leasing sector, it’s very important to have a complete and clear financial profile of every applicant. Confirming applicant identities, background checks and credit history all play an essential role in the approval process.
Of course, ensuring you have highly accurate and reliable information on every applicant is often an expensive, time consuming process. But with our LendTech automation platform, we make the car finance verification process cost-effective and almost instantaneous.
Automating the car finance verification process
With LendTech, we are able to bring highly-effective automation technology into the car financing, leasing and rental spheres. Our entirely bespoke platform allows you to use a range of apps to achieve the results you need.
From automatically performing soft credit checks on applicants with technology from the likes of Experian and Equifax, to a range of automated identity verification apps. LendTech always delivers accurate and easy-to-understand data on every applicant.
In-depth identity verification for instant approval
When leasing a car, it’s essential that you can rely on your customers to make payments. The LendTech decision engine automatically determines whether or not a customer would be eligible by utilising a range of factors.
We automatically check to see whether they are on the electoral roll, if they have any CCJs and check the DVLA’s database to ensure that you only encounter the most trustworthy applicants. With the information we pull from these sources, our automated decision engine can determine how eligible an applicant is for your service in seconds.
Our automated eligibility reports
Once our decision engine has processed an application, you will automatically receive a report determining how eligible an applicant is. With an accurate financial profile of the applicant, you can either use our score-based system to automatically approve or reject the applicant based on your criteria, or do it manually. Whatever you choose, LendTech will have compressed the verification process into no time at all – saving you time, money and manpower.
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