Create Lending Processes That Deliver Return on Investment (ROI)
The lending industry must overcome multiple challenges and relentless changes. Manual practices, disjointed processes, speed-to-market constraints, lack of audit trails and inefficient legacy loan origination systems (LOS) are just a few hurdles lenders must overcome. These issues continue to have a significant impact on a lender’s ability to maintain its competitive edge and reduce costs while improving profitability.
Why Equifax Prefers ILOG
With ILOG’s business rule management system (BRMS) , lenders build flexible decision automation services that enhance their operational efficiency, optimize processes and improve customer retention and acquisition. ILOG BRMS goes beyond basic automation by enabling advanced decisioning capabilities to automate product guidelines and regulatory policies along with lenders’ best practices and knowledge.
ILOG technology is used throughout the lending process and across lines of products, such as prime or sub-prime mortgages, home equity lines of credit, credit cards, commercial products and auto loans. It automates critical decisions, such as pre-qualification processes, underwriting, pricing, deal structuring, cross-selling, best execution practices, credit scoring, risk grading and compliance procedures.
Proven results
ILOG software and services have a proven track record of enhancing core lending processes, from origination to servicing to secondary marketing. Lending and financial service providers rely on ILOG Transparent Decision Services™ to:
Achieve above 50 percent decrease in time to market
Reduce cost of origination and underwriting by over 50 percents with automated decisioning and centralized rule management
Attract, retain and grow customer bases by over 15 percent with real-time decisions at the Point of Sale (POS)
Improve offering quality and maximize cross-sell opportunities with best-fit, near-fit and counter offers
Accurately and consistently assess risk and credit capacity to fine tune risk-based pricing
Improve compliance monitoring and fraud detection
Obtain audit trails throughout the lending processes and across lines of products
Flexible and responsive systems
ILOG BRMS is the only business rule management system that allows both business and IT professionals to easily and successfully manage the rules that drive lending operations—without compromising on power. Financial service institutions now have the scalability, predictability and reliability they need to stay ahead.
ILOG BRMS includes centralized rule management with permission-based access control, queries, history management, versioning, a high-performance rule engine and a Web-based rule maintenance application that includes wizards, point-and-click rule editors and rule templates for business users.
Recognized for its ease-of-use and integration, ILOG BRMS adheres to standards such as Service Oriented Architecture (SOA) and Mortgage Industry Standards Maintenance Organization, Inc (MISMO) XML compliance. As such, lenders are able to preserve and enhance existing IT investments such as legacy platforms, loan origination system (LOS) or point-of-sale (POS) portals.
Leading financial service institutions rely on ILOG BRMS ILOG’s customer base includes:
Eight of the top ten Fortune 500 commercial banks, including Credit Suisse, Deutsche Bank and Bank of America
Five of the top six Fortune 500 diversified financial companies, including Fannie Mae, Freddie Mac and Countrywide Home Loans
Other leading financial service institutions such as Equifax, Wells Fargo, Commerzbank, CitiMortgage, Option One Mortgage Corporation, and Visa International
Maximize your returns with the ILOG Lending Practice
ILOG provides a complete set of services from consulting to education to customer support.
Backed by experts and several man years of work with industry leaders, the ILOG Lending Practice delivers best practices, proven methodology, implementation roadmaps, modeling tools, frameworks and templates that address functions specific to lending, such as product pricing and eligibility or automated underwriting. Users achieve better results faster while reducing their development time, costs and risks.
Next steps
Get more information on how ILOG can help your company improve loan and credit decisioning while achieving superior return on investment (ROI).
