Fundamentally, I agree with Knight and the points he raises about same-day offers and manual underwriting being mutually incompatible.
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However, at Platform, we still believe certain types of borrowers can benefit from a manual underwriting process, especially those who have heavier amounts of adverse and more complicated financial issues. Consistency of decisions may be a problem, but we have found that experience, effective training and processes reduces the instances of this happening.
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Because an experienced underwriter may be used to assess the case, a process like same-day offers and some of the credit automation that sits behind this would be unsuitable, but we do recognise that sometimes speed is not always a customer’s priority. In such cases, certainty of decision is paramount and the need for an unconditional offer vital, so we feel the ability to cater for both types of client is an important part of our proposition.
Paul Hunt
Head of marketing
Platform
