HDFC bank has implemented Polaris Software’s Enterprise Business Rule Engine for its retail asset lending business comprising auto and personal loans. This deployment is expected to enable the India-based bank to target customers better and manage credit risks effectively.
Reportedly, Polaris’s Intellect Business Rule Engine is a credit decision engine that enables Polaris’s customers to profile and segment customers for loan products and helps cross-selling and up-selling of related asset products. This centralized business rule repository is expected to provide the ability to view risk across portfolio of products and therefore enables higher control and risk management.
The company has claimed that the system when coupled with Polaris’s Intellect Origination and application processing solution, automates the process of filtering bad applications based on configurable and flexible pre-qualification checks. This results in processing of more applications and credit offers only to genuine customers.
Polaris’s BRE solution improves banks processing capability which integrates the good / bad internal de-duplication of loan/credit cards applications, application & behaviour score and credit bureau reports along with bureau scores in real time as will as forms integral part of bank’s SoA initiative.
Munish Mittal, EVP & head, technology solutions group, HDFC bank, said: “Implementing application & behavioural scores along and integrating business rules engine with bank’s existing Enterprise de-duplication solution for Loan & Credit Cards applications has been a major landmark in our pursuit to make retail credit processing template based and standardization of credit policy administration.”
“Credit decision framework is a critical function in the distribution of the loan products to end customers. Having successfully partnered Polaris for automating our credit card application process, we chose to implement Polaris’ Intellect Business Rule Engine,” he added.
