As authorised and regulated direct lenders, one of our main goals is to lend responsibly while keeping our default rate as low as possible. At Moneyboat, we have a commitment to our customers to deliver affordable short-term loans on personalised instalment plans. We lend according to customer’s needs and offer reliable and transparent support.
To further enhance our customer experience, Evergreen Finance London, trading as, have chosen to use an innovative product from advanced data analytics company FICO to make smarter automated credit decisions. The FICO Decision Modeler allows companies to use business terms rather than programming to assess affordability and risk, allowing us to make intuitive lending decisions faster.

Steve Hadaway, general manager for FICO in EMEA, said:

“Evergreen, like other fintechs we serve, need the smartest technology available to make sound lending decisions faster. In a high-risk area like short-term lending, precise risk decisions are essential. No company has as much experience as FICO at building risk management systems for lending.”

The three bespoke analytic models used in the cloud-based platform allow us to efficiently evaluate whether applicants can afford to make the monthly payments for a credit agreement, based on their income and regular outgoings. By applying highly segmented risk strategies, the percentage of customers who fail to repay their loans should be reduced. This may allow us to offer increasingly competitive rates on our loan products in the future.

Moneyboat’s founder and director, Yisroel Perkel, said:

“We reviewed other decision engines, but the FICO system gives us the greatest sophistication and flexibility. FICO impressed us with their expertise in this area, along with their ability to deliver both world-class software and advanced analytics. By enabling us to approve loans 24/7, their solutions will aid our strategy to rapidly grow and make short-term loans affordable and fair.”

There are many direct lenders and brokers for consumers to choose from in the UK. At Moneyboat, we’re proud to use the FICO Decision Modeler to make our evaluation process faster and fairer. This allows us to offer free same day funding where possible, early repayment options, and transparent short term loan agreements.