Using Ilog JRules, Bank of the West aims to create a more efficient loan review and approval process, reducing the time required for credit reviews to one day and improving regulatory compliance. The new system is also expected to ease credit administrators’ workload and reduce operational costs.
Bank of the West, which currently operates more than 700 retail and commercial banking locations in 19 western and midwestern states, will use Ilog JRules to automate a paper-based credit review process.
The bank will use Ilog’s Business Rule Management System in combination with FileNet’s business process management and enterprise content management software to create a new loan origination system that will automate the entire credit review and approval process, including data capture, management of the credit administrators’ approval queue and credential assessment.
