View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
April 4, 1989

SPANISH FINANCE HOUSE USES EXPERT SYSTEM TO MINIMISE ITS EXPOSURE

By CBR Staff Writer

To minimise its increased exposure following a big increase in the number of its outlets in Spain, which now stand at 160, the Hispamer Financial Group SA, part of the Banco Hispana Americano SA, has developed its own expert system, called Seul. The system, which runs on an MS-DOS micro, will make lease finance decisions based on input data for the specific proposal, and a set of 900 rules and 10 connection levels. It also offers constant cash flow predictions for which it analyses the payments due account, income pending, profits and so on, justifying all decisions made. Although Seul simulates the thought processes, experience and knowledge of risk assessors, it is not binding in its no answers and the company’s directors are still free to override it. Seul takes two to three minutes to make its decisions, on amounts between $400,000 to $500,000. Hispamer’s services company, Servicor AI Group, developed the system in just nine months at a cost of $200,000 and the prototype has been in use in UniLeasing’s Madrid headquarters and outlet since the beginning of the year, and in the other 10 outlets since mid-February. From last September Seul has undergone 10 revisions and thousands of tests. Servicor used PC Consultant software, dBaseIII and the Scheme language for Seul’s data development and Fortran for its statistics development. The original simple database will eventually become a data collection system integrated on an IBM AS/400 that will feeding the expert system. Operations will be stored on a central host so that the outlets, at present functioning independently, can find out if a request has been made in another office and why. Within Europe, other expert systems applied to leasing include one model in Italy, another in France and a third still being developed in the UK. Servicor’s previous successes include development of the first expert system for the national airline, Iberia.

Content from our partners
Rethinking cloud: challenging assumptions, learning lessons
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU