Increased profits – By streamlining your processes and reducing human error, your organization will say yes to more applicants that meet your credit policies and rules.More expertise & support – Our decision engine is not just software, but also a trusted advisor to institutions that want to optimize and develop innovative growth strategies.The Modellica Decision Engine provides a digital loan application solution, that integrates with any existing loan application system to reduce lead acquisition costs and automate credit decision to power instant, digital loan originations. GDS Link’s Modellica Decision Engine is built for large and smaller organizations alike, with the ability to ad complexity and granularity as you grow. Benefits of GDS Link’s Modellica Credit Decision Engine Software They are designed to help organizations save time and money by executing these “easy” credit decisions and allows manual underwriters to focus on more unique situations. What is a Credit Decisioning Engine?Ī credit decision engine is a customizable automation platform that executes decisions based off your credit policies and rules. Implementing a credit decision engine solves many of those issues. Competing priorities and schedules can extend project timelines, making it more difficult to deploy new strategies, reducing the nimbleness of an organization to react. However, many professionals are hindered by the limitations of their legacy applications, and the dependent resources and specialized professionals who support them. For example, we calculate Debt-to-Income Ratio and other financial ratios without touching the code.Today’s risk management personnel are challenged to remain abreast of the dynamics and changes taking place in their respective industries, continually needing to design, develop and deploy new risk management strategies to meet growth objectives while mitigating risk and remaining compliant. Set up and manage your calculations based on various parameters of the rule engine platform. If the borrower is over 18, the application will be accepted if they are under 18, the application will be rejected. For example, the minimum age requirement is 18. We will be able to specify fundamental eligibility requirements in our rule engine, on the basis of which it will choose whether to accept or reject the borrower. For instance, If a credit score is greater than 600, the interest rate is set at 12%, and if it is lower than 600, the interest rate is raised to 15%. Our rule engine software will provide you with the results so you can make a credit decision after evaluating and processing your borrower’s loan against different conditions like age, credit score, borrower’s current salary, any prior loans of the borrowers, interest rates, and 100+ parameters. In this way, set scores for each condition and then produce a scorecard for the borrower. For example, if your credit score is higher than 600, you should give a score of 10 if it’s higher than 650, you should give a score of 12. The system will automatically create the borrower’s scorecard. You can configure a basic score for each condition in the rule engine. This might even affect the borrower’s credit score. Your borrower gives you consent to check his credit report, which you need for the final decisioning. The soft inquiry doesn’t affect the credit score and can happen even if your borrower hasn’t applied for credit. Whether your borrower checks his own credit report or you are periodically reviewing his current credit accounts, a soft check is conducted. Two types are integrated here:Ī preliminary credit check appears on a credit report just like any other inquiry. This module in our rule engine software is set up based on your credit rules that check for the eligibility criteria for the borrowers.
0 Comments
Leave a Reply. |