Aldermore has increased the size of SME lending cases that can go through its automated decisioning process, as the bank looks to give brokers faster answers on a wider range of applications.
The bank said the threshold for automated decisioning has been lifted to £250,000, allowing a greater volume of cases to be assessed through technology rather than manual review.
Aldermore said the change means thousands of additional customer proposals will now be eligible for automated decisioning, with many receiving a decision in under 10 seconds.
The lender has also made further changes to its decisioning process, which it said are intended to improve transparency and deliver more consistent outcomes for brokers and their SME clients.
According to the bank, the changes were developed with broker feedback and are designed to make application outcomes clearer while streamlining assessments.
Aldermore said expanding automation for more straightforward cases would allow its specialist teams to spend more time on larger or more complex transactions where manual input is needed.
Lee Rhodes, commercial director at Aldermore, says: “Brokers play a vital role in helping SMEs access the funding they need, and we’re committed to continually improving the experience of working with Aldermore. Increasing our automated decisioning threshold to £250,000 is a significant step forward and reflects our ambition to back more brokers with faster, clearer decisions.
“These enhancements are part of our ongoing focus on strengthening strategic partnerships with the broker community.
“By automating more straightforward cases, we can also free up our colleagues to provide more hands-on support where it matters most – on higher value or more complex transactions.
“This means brokers can access fast, technology-enabled decisions for simpler cases, alongside dedicated support for more complex deals.”
