Start now. Prove the value of Rules.

Business Rules streamline every kind of credit decisioning - from mortgages to secured loans, auto loans to credit cards. Business Rules are a key enabler in managing requirements, assessing risk and even driving effective collections strategies.

• Establish Eligibility

For virtually every distinct product there are a different set of rules for eligibility. With Business Rules you can automate eligibility decisions, applying your business policies and ensuring that product eligibility is determined appropriately and instantly, even for the most complex products. Employing intelligent interactions technology can make self-service a reality, even when products are being added and changed rapidly.

• Assess Risk and Price

Pricing credit products - determining risk, calculating rates, determining fees - can be complicated. . Automating these calculations with Business Rules ensures they are done right every time. Business Rules bring product owners into the process so the rules can be managed directly by those who understand them, and rapidly updated without an IT bottleneck. Adding advanced analytics to predict risk is easy with some BRMS vendors too.

• Origination and Documentation

Many credit products have complex origination processes and need significant documentation. Federal, state and local regulations can all affect the documentation that must be gathered, stored and validated. Managing all these rules using Business Rules ensures that customers are only asked for the documentation that is truly required while ensuring that nothing is missed. Using intelligent interactions technology further automates origination processes, delivering a superior self-serve front end experience.

• Account Servicing

Collecting payments, managing early pay offs, and closing out loans are all opportunities to build positive or negative customer relationships. Using Business Rules to manage all the decisions that occur during the life of an account helps ensure consistency and excellence through the life of an account.

• Managing Collections

Any customer portfolio contains customers who get in trouble and enter the collections process. But you need to ensure that the right approach is taken with each customer to maximize profitability - whether that means working with them on a long term plan or trying to get the best payoff you can manage. Business Rules let you put the expertise of your best collections agents to work across your whole portfolio. And with rule-driven interactive web forms, even the newest staff are guided to lead effective conversations with customers, maximizing the return from your portfolio.