Decisioning

Automotive; Decisioning

ACCELERATE automotive lending with an automated rule-based decisioning process. CONSTRUCT forms that allow customers to enter their own applications and get back a decision. MANAGE gray areas with queue management and e-mail alerts. FINISH the process with automated letters

View Decision Table Sample

What are the benefits of decisioning?

Decisioning is the primary driving force behind lending or screening. With over 100 decisioning rules, you can not only decision applications in real time, but it is also possible to detect fraud, verify application data, screen against OFAC, and service sub-prime markets. Early disqualification of applicants reduces cost and increases productivity.

Prescreen for unqualified applicants before submitting applications
Reduce time and cost with decisions in 1-3 seconds
Limit credit report exposure
Consumer and commercial lending
Manual Review queue for gray areas with e-mail alerts
Automatically send declination letters

How does it work?

The application is first prescreened, verified and checked for fraud*
If prescreening passes, the application is submitted to the bureau
The resulting data is checked against pre-defined levels and assigned a decision when the first level passes
If setup, an e-mail alert may be generated for different decisions or a declination letter automatically printed or sent

Prescreening Rules

Type

Rules

Prescreening

With prescreening, application data is checked and verified before requesting a report. Rules includes application requirements, e.g., income and length of residence, OFAC screening, bankruptcy screening, social security number validation and fraud detection.

Decisioning Rules

Type

Rules

Application Data

Application Data allows you to establish set requirements for applicants. These rules are very similar to the prescreening rules; however, they are checked after the report is submitted.

Scorecards Criteria

The scorecards are the most important rules for decisioning. These rules work with multiple scorecards from different bureaus. Based your rule and criteria on the scorecard and bureau you will be requesting.

Credit Data Variables Criteria

The second most important rules for decisioning are the credit data variables. These rules checks things like trades past due, collections and other credit data from the credit report.

How do I setup Decisioning?

If you already have a decision table setup, skip to step 18
Go to My Account
Select Decision Tables
Click Add New Decision Table
Enter a Name for your new Decision Table
Click the Prescreening Level**
Enter a Failure Message to display when prescreen fails
Populate the rules you want to require and verify on application entry
Click Level 1
The first level should be the most difficult to pass and each additional level should lessen in degree.
Enter a Decision Name, e.g., approved, declined
Enter a Decision Description
Enter Products**
Populate the Rules you want to require for this level
Repeat these steps for each level you want to create
After setting up the last level, enter a reject level with no rules
Click Save
Go to My Account
Select Access Codes
Select the applicable Access Code
Select Automated under the Decision Table section
Select the decision table previously set up
Click Save

Notes:

The first level should always have the strictest requirements while the last level most lenient.
If you wish to be notified when an application gets a certain level, select the e-mail option.
To automatically generate letters, assign a letter template to each level.