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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.
How does it work?
  1. The application is first prescreened, verified and checked for fraud*
  2. If prescreening passes, the application is submitted to the bureau
  3. The resulting data is checked against pre-defined levels and assigned a decision when the first level passes
  4. 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?
  1. If you already have a decision table setup, skip to step 18
  2. Go to My Account
  3. Select Decision Tables
  4. Click Add New Decision Table
  5. Enter a Name for your new Decision Table
  6. Click the Prescreening Level**
  7. Enter a Failure Message to display when prescreen fails
  8. Populate the rules you want to require and verify on application entry
  9. Click Level 1
  10. The first level should be the most difficult to pass and each additional level should lessen in degree.
  11. Enter a Decision Name, e.g., approved, declined
  12. Enter a Decision Description
  13. Enter Products**
  14. Populate the Rules you want to require for this level
  15. Repeat these steps for each level you want to create
  16. After setting up the last level, enter a reject level with no rules
  17. Click Save
  18. Go to My Account
  19. Select Access Codes
  20. Select the applicable Access Code
  21. Select Automated under the Decision Table section
  22. Select the decision table previously set up
  23. Click Save
*Only available when prescreening rules are setup

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