- by Patrick Cooney on 27/07/2021
A new kind of software has entered the market: automated decisioning and it is becoming one of the most important tools in the financial technology space due to its efficiency and intelligence. Automating decisions allows companies to decide rapidly on the correct response to an opportunity, leading to better business outcomes, which in turn increases competitive advantage. Automating the day-to-day operational decisions of any business will ultimately streamline processes, manage risk more effectively and increase profitability.
CRIFVision-net offer its own automated decisioning engine - StrategyOne, a user friendly business solution for automating decisions that uses data, scorecards and business rules to minimise manual tasks and automatically delivers a final decision to the user.
StrategyOne puts business people in the driver's seat to quickly and easily implement, test, monitor and change business rules, credit scores, calculations and entire decision processes without coding, leading to automated and confident decision-making throughout your enterprise.
By spanning the customer lifecycle StrategyOne (S1) covers all aspects of decision management with graphical, user-friendly decision-making technology.
Automated decisioning can enable organizations to identify the right targets, increase customer loyalty, boost sales and margins, manage risk, and implement business and regulatory policies and procedures.
Various kinds of applications can use S1 technology, from pre-screening & credit underwriting to ongoing credit risk management & marketing campaigns and collection strategies.
Screen - Check the applicant meets the minimum requirements for the type of loan & amount.
Check Affordability - Calculate debt-to-income and loan-to-income ratios, both at application level and at customer level, measuring the financial sustainability of the requested credit.
Asses Credit Risk - Focused on the evaluation of the applicant's risk profile and on the quantification of the probability of default, a key factor driving the final credit decision based on the lender's risk appetite and strategic approach to the market.
Decide Final Decision - The previous steps are summarised in an intuitive rating (traffic light) and a suggested decision is made which also can drive further automation in the downstream processes like automatic contract creation.
Convert Ideas Into Effective Actions - S1 enables you to adapt by converting ideas into effective actions with graphical tools to design and modify strategies without IT assistance.
Test & Apply New Decision Logic - Optimization with faster customer response times, improved credit portfolio.
Implement Your Analytic Models - S1 is able to support advanced and machine learning models.
Increased Control With Standardised Decisions - Helping achieve all compliance requirements and consistency of decisions at all stages of the customer life-cycle
Training & Support - CRIF professionals are on hand to help you realise all these benefits of S1.
S1 is available standalone or fully integrated with CRIFVision-net and CCR data via CRIF Gateway, another innovative solution which combines multiple data sources into one concise report.
For more info:
Phone: 01 903 2660
At CRIFVision-net we have multiple solutions to help you identify higher risk customers/suppliers or also when checking out competitors.