Decisions Rules-Based Process Automation Platform is helping Financial Service providers be more competitive by helping them:
- Be more responsive to customers
- Reduce risk and losses
- Address new markets
Decisions Rules-Based Process Automation Platform is helping Financial Service providers be more competitive by helping them:
The Decisions platform is helping companies in multiple segments of the financial services industry to increase efficiency including:
Banks and lenders have to not only know their customers but respond quickly and efficiently to an increasingly demanding consumer. Automating financial workflows with a flexible rules engine can address every situation and differentiate your customer’s experience.
Most Loan Origination Systems (LOS) are “configurable”, but stay tightly within the traditional boundaries of the market for which they were built. Systems designed to originate mortgages, auto loans, payday loans and online loans are all tailored to each market.
Lenders need online loan applications, mobile lending apps, post-closing workflow, and other features that aren’t “core” to loan origination systems as traditionally defined. These capabilities are requirements for meeting the expectations of today’s customer.
The Decisions platform has the ability to build any workflow and rule structure and get data from anywhere and run any rule against it. The platform can enable lenders to quickly implement.
Loan servicing is also a classic rules and workflow business. Most Loan Management Systems (LMS) or Loan Servicing Systems solutions offer some rules configurability, but they often don’t provide complete control. This leads to manual workarounds created outside the LMS, which leads to delays and errors. The Decisions platform has a better answer for lenders and loan servicers who need more robust capabilities.
Local property tax changes and insurance adjustments can make managing escrow accounts complex. Decisions graphical rules engine allows analysts to update and modify the rules as they change.
Collections professionals use Decisions to help manage collection campaigns. By determining the frequency of follow-up and scheduling outreach, payment can be collected faster with less effort.
Workout package creation and tracking are all use cases well suited to the Decision rules and workflows engines. Rules governing specific cases can be created and tracked, reducing risk. Leverage predictive rules to identify potential delinquencies so lenders can take proactive action and mitigate loss.
Lenders in new markets often struggle to find loan origination software that fits new products and end up trying to adapt software designed for more established products to support new offerings. Using an auto loan origination software for solar loan origination is one example. This leads to inefficiencies and errors. Decisions can be easily customized to support unique rules for new product lines.
Most Loan Origination Systems (LOS) are “configurable”, but stay tightly within the traditional boundaries of the market for which they were built. Systems designed to originate mortgages, auto loans, payday loans and online loans are all tailored to each market.
Lenders need online loan applications, mobile lending apps, post-closing workflow, and other features that aren’t “core” to loan origination systems as traditionally defined. These capabilities are requirements for meeting the expectations of today’s customer.
The Decisions platform has the ability to build any workflow and rule structure and get data from anywhere and run any rule against it. The platform can enable lenders to quickly implement.
The Decisions platform ensures that documents are properly recorded and maintained so that when you must provide information to customers, the task is efficient, accurate, and automated.
On the investor side of the mortgage transaction, Decisions assists in tracking account management and cash flow rules and notifications.
Decisions can perform validation checks on new customers to remain compliant of money laundering regulations and reduce fraud. The Decisions platform is also helping firms streamline compliance reporting.
Build approval rules that optimize the investment signoff process. Define who needs to sign off on what types of investments. Don’t miss opportunities while controlling risk.
In financial services, organizations are often reliant on legacy systems. Service delivery is also quite complex requiring multiple systems. The flexibility of Decisions enables financial services firms to implement a rules based workflow orchestration layer that makes existing systems more flexible in a multi channel world.
Decisions can become the intelligent automation core of your legacy LOS / LMS by integrating business rules and workflows, or serve as the foundation of your lending process. The comprehensive Decisions platform includes a sophisticated rules engine, workflow manager, process mining agents, integrations, and interface designers.
Decisions integration capabilities regularly connect and extend existing mortgage systems to better manage rules, notifications, and task assignments