PayBreak opts for ADP

Fintech firm PayBreak is set to use an automated decisioning platform from LendingMetrics as part of its growth plans.

The company, which specialises in digital point-of-sale finance through online retailers, will deploy LendingMetrics’ award-winning ADP to build rules, scorecards and matrices using a variety of data sources so that they can make credit decisions within milliseconds. The platform will also allow operational/credit risk staff to control changes in real time through a simple yet comprehensive user interface.

Neil Williams, Managing Director of LendingMetrics, said: “This ADP partnership with PayBreak takes us into yet another sphere of lending within the retail and banking sector. PayBreak particularly liked the speed of decision making that ADP is able to deliver, and the facility to change rules in real time. This last feature enables our clients to rapidly increase or decrease lending flexibility according to risk appetite, which is a really powerful tool.’

Robert Schuijff CEO of PayBreak Pty Ltd added “After considerable market research, ADP was a clear winner on tech,Commercials, presales, communication and understanding of what PayBreak wanted to achieve, this made the process very easy for us.”

Multi-award-winning ADP, which integrates with all major credit reference agencies, was launched in 2016 to free lenders from the cost burden of manual loan underwriting, while also giving them access to the latest data analytics and the Open Banking revolution.