The new system allows Everbright Bank to process loan applications in one day instead of the several weeks it took previously – providing enhanced customer service as well as savings to the bank.
Prior to installation, credit risk managers had to collect information from different sources before manually assessing risk profiles to determine eligibility and pricing. This process created a backlog in loan applications, which could take weeks to approve.
JRules automates the pre-qualification and underwriting and frees staff from performing this task manually – all while lowering the risk to the bank through better risk management. The system also ensures loan servicing with timely tracking of repayments, reducing losses from delinquent or delayed payments.
Ilog partnered with Bearing Point, a business consulting and systems integration firm, to deploy the application for the bank.
Founded in 1992, China Everbright Bank is thought to have more than 350 outlets in 36 cities and 23 provinces. It has assets of $41 billion and outstanding loans totaling $24 billion.
