Novuna enhances automated credit decisioning for SMEs

Novuna Business Finance has enhanced its automated credit decisioning capabilities, increasing the speed and efficiency of funding decisions for SMEs as part of a wider investment in technology and process automation.

The lender has introduced a new data-driven credit scorecard designed to improve the accuracy and speed of lending decisions. Since its implementation, auto-decisioned acceptances for strong commercial customers have increased by 46% compared with previous automated approval levels.

As part of the enhancements, Novuna Business Finance has also increased its automated decisioning threshold to £150,000, enabling more applications to be approved instantly and helping businesses access finance more quickly. The lender has further expanded the scope of its automated approval system, allowing a larger proportion of proposals to be processed without manual intervention.

The focus on delivering faster outcomes extends beyond automated decisions. Over the past 12 months, one in three referred proposals requiring manual review received a credit decision within two hours, while nearly half (46.83%) were decisioned within four hours.

The lender’s emphasis on speed also continues through to funding. During the last three months, 87% of approved deals were paid out within eight hours, ensuring customers receive access to capital when it is needed most.

Novuna Business Finance said its approach combines intelligent automation with experienced underwriting expertise, using advanced decisioning systems alongside human oversight to maintain accuracy while reducing delays throughout the proposal-to-payout process.

Chris Powell, Head of Sales at Novuna Business Finance, said: “Brokers are instrumental in helping SMEs access the funding they need to grow, and our partnerships with them are incredibly important to us.

“We’re always looking for ways to make it easier to do business with us here at Novuna Business Finance – whether that’s through faster decisions, smoother processes or ongoing improvements to our technology.

“These enhancements reflect our continued investment in automation, not just in decisioning but across the full proposal-to-payout journey, helping us drive efficiencies and deliver the best possible experience for both brokers and their customers.”