Motor finance provider Raphael Finance has invested in a range of new tools for its underwriting team with a focus on the used car customer experience at point of sale.

Designed to help finance brokers and motor retailers offer fast and effective decisions to their customers they combine automated credit assessment with ‘eyes on every case‘ insight.

"Speed and accuracy of decisions is vital for brokers and dealers to ensure the right customers gain access to the finance they need and help them drive away happy”, said Darren Greenyer (pictured), Raphael Finance deputy head of lending.

“Innovation over the last decade has seen ever-more automated decision processes for lending, but this risks the exclusion of some otherwise credit-worthy customers.

“Our goal with these new back office tools is to give our underwriters the ability to automate elements of the process without losing our ‘eyes on every case’ principle that ensures that all customers are judged entirely fairly”. 

The new Raphael Finance Credit Gateway automatically identifies applications which would be declined.

“This leaves underwriters with more time to focus on cases which are more likely to be accepted, speeding up the application process for customers and helping motor traders seal the deal.”

Complementing Credit Gateway, Raphael Finance has developed Data Waterfall to provide greater customer insight and profiling to the company’s underwriters.  

Using a range of data sources including credit history and search data, it helps increase the speed and accuracy of underwriting decisions.