Case Study: LaSer
Business Challenge
LaSer Nederland processes thousands of applications each year which pass through its automated decision system. However, the process had a number of manual elements, including checking customer data, and the high referral rate meant that many routine
applications were passing through its team of underwriters.
In addition to operational challenges, the risk team had a strong dependence on the IT department to make changes to the decisioning system. Long lead times, little flexibility and not being given enough priority meant that the team often struggled to make simple and necessary changes to the lending policy and strategy.
The Decision Analytics answer
LaSer, as part of a European-wide group, has close links to their counterparts in other markets including France. The French team have been successfully using Experian products and services for many years and were able to endorse Experian as a supplier and in terms
of its product. LaSer chose to implement the New Business SM system from Experian which it recognised could deliver the functionality required in terms of automation and flexibility.
The Benefits
- Detecting £35 million of potential fraud in 6 months
- Reduced referrals, a 65% decrease in the first year of operation
- Significantly reduced operational costs with a fully automated system
- Decreased external data costs, exceeding the target decrease by 20%
- Maintained bad debt levels across the portfolio
- Increased knowledge and practice of risk management
- Achieved 100% flexibility with the Strategy Management tools
“Experian was chosen as a supplier, not only because we know they can deliver the technology we require, but also because they can, like us, operate on a European basis. Their proven track record, combined with an effective toolset, has exceeded our expectations. We are now on target to reduce our referrals almost to zero, giving us a significant reduction in operational costs while maintaining bad debt levels. And key to the success of the project, our team now has 100% flexibility to manage and develop the operation.”