Development of an Automated Financial Product Eligibility and Decision Engine

The client experiences a complex, manual, and opaque process when assessing customer eligibility for various banking products. This results in delays, decreased efficiency, regulatory compliance concerns, and limited transparency in decision processes, impacting customer satisfaction and operational throughput.

A mid-sized retail banking institution seeking to streamline its loan and banking product eligibility processes through automation.

• Implement an automated decision-making system that determines customer eligibility for banking products based on comprehensive internal and external data sources.
• Reduce processing time for loan applications and product eligibility assessments, aiming for near-instant decisions.
• Enhance transparency by providing detailed decision progress and history accessible to regulators and auditors.
• Enable flexible templating of decision models to adapt to changing policies and criteria.
• Integrate seamlessly with internal banking data systems and external partner APIs for real-time data enrichment.
• Develop an intuitive interface for bank staff to navigate decision processes effortlessly.

• Data integration layer to collect customer data from internal banking systems and external partner APIs.
• Automated decision engine to evaluate eligibility based on predefined credit parameters and regulatory requirements.
• Transparent decision process tracking with detailed history logs accessible to staff and regulators.
• User-friendly interface for bank employees to manage applications and view decision statuses.
• Flexible templating system allowing for easy updates to decision criteria and parameters.
• Real-time calculation of credit parameters tailored to each loan application.

• Internal customer data systems
• External partner APIs for real-time data retrieval
• Regulatory reporting systems

• System uptime of 99.9% to ensure availability for real-time decision-making
• Processing capacity to handle high-volume application loads within seconds
• Compliance with data security and privacy standards
• Audit trail capabilities for decision transparency
• Scalable architecture to support future growth and additional data sources

The implementation of this automated decision engine is expected to significantly decrease loan approval times, increase decision accuracy, and ensure regulatory compliance through detailed transparency. It aims to improve customer satisfaction, reduce operational costs, and support scalable growth in product offerings and customer base.