"Unlock the power of real-world success with our compelling case studies. Let's catch up and dive into the stories that inspire growth and innovation!"
Banks and NBFCs may face problems due to Business Rules mismatching when they look to get into a co-lending arrangement. We came up with an idea & built a highly configurable robust application that gives inputs for all lending products & significantly streamlines the co-lending requirements.
Introduction
A Business Rule Engine (BRE) is a software system that facilitates the management and execution of business rules within an organisation. Business rules are specific guidelines, conditions, or policies that dictate how an organisation's processes and decisions are made.
Background
Banks and NBFCs are leading financial institutions, facing challenges in maintaining consistency and efficiency in its loan approval process. The bank had a complex set of rules and criteria for assessing loan applications, and manual underwriting was prone to errors and lacked the agility needed to adapt to changing market conditions and regulations.
Challenges
Inconsistent Decision-Making: Loan officers had varying interpretations of lending policies, leading to inconsistent loan approval decisions.
Manual Processes: Loan application processing was heavily reliant on manual tasks, resulting in slow turnaround times and increased operational costs.
Regulatory Compliance: The bank struggled to keep up with evolving regulatory requirements and ensure that loan decisions were compliant.
Solution
To address these challenges and streamline its loan approval process, our product is a rules-based automation platform designed to improve decision-making, reduce manual work, and enhance regulatory compliance.
The BRE integrated with both lenders' data sources, including customer information, credit data, and historical lending data, to provide comprehensive borrower profiles.
The rule engine automatically determined how loan amounts would be split between Lender A and Lender B based on predefined allocation criteria, such as risk exposure, loan size, or geographic location.
The BRE continuously evaluated loan applications in real-time, determining eligibility, loan terms, and allocation of funds between the two lenders based on the predefined rules.