Data specialist LendingMetrics is partnering with Experian to help grow its LendingMetrics Exchange (LMX) data platform.
LendingMetrics partnered with Equifax in 2012 and the new partnership will now see Experian products available via LMX.
As such lenders can now access multi-bureau credit reference data, affordability, anti-money laundering (AML) and bank account verification services via LendingMetrics’ “white glove” service.
Additionally, by aggregating transaction volume across its broad customer base, LendingMetrics is able to secure commercially attractive terms which can then be passed onto its customers. Lenders can therefore benefit from high service levels at a great price.
David Wylie, LendingMetrics’ commercial director, said: “The success of LMX to date has been amazing. We pay tribute to Equifax in helping us to achieve this and we strongly believe that they will continue to play a pivotal role as we grow further.
“As our market presence has expanded via the dramatic growth in our automated credit decisioning platform ADP, so have the demands and level of sophistication of our clientele. For this reason we see the added partnership with Experian, the UK’s largest credit reference agency, as the natural evolution as we look to address requirements such as multi-bureau decisioning and sector specific coverage.
“This announcement means that, for example, lenders can benefit from a multi-bureau solution via one unified LMX API, as well as one commercial commitment and one point of contact, all wrapped up in highly competitive terms. This is a unique approach and we look forward to sharing the benefits with our customers.”