The Unsecured Credit Company (UCC), the largest unsecured loan broker in the UK, has announced the implementation of an automated sourcing and decisioning service from pancredit, the lending software specialist.
UCC plans to significantly increase its business and needed a compliant sourcing solution capable of supporting this expansion, improve its efficiency and link to its existing in-house broker management system.
The solution, MADE Broker, will enable UCC to automate processes such as filtering out of poor quality applications and updating changes in lender criteria, and should lead to a more efficient underwriting process. This in turn saves time and increases productivity by ensuring higher levels of accuracy and quality in deals being passed through to lenders.
According to Managing Director Bill Clinton, the new system was chosen because of the collaborative nature of pancredit's approach to providing a custom made system which met UCC's requirements.
He said "With their experience of building first class solutions, pancredit were able to work with us to adapt their existing software to match our unique requirements. Not only is it fully compliant with current FSA and SCOR legislation but it is intuitive and dovetails precisely with our own systems."
He added "Significantly, the new software offers our customers a variety of different compliant quotations for consolidating existing credit or considering alternative loan options. In short this will have a significant positive impact on our conversion rates and bottom line, while delivering great value to customers within a framework of responsible lending."
Doug Whincup, MADE Business Manager at pancredit, adds "We have worked in close collaboration with UCC for the past 10 months to ensure that the implementation of the MADE Broker solution has been delivered smoothly and within agreed timescales. This resulted in a very successful project, and we look forward to maintaining a close working relationship with UCC in the future."
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