Applying credit decision logic over lending practices is very unique to each Lender, but the need to track decision points and supporting information is always required.
Traditionally we guided customers towards uploading their decision matrices or credit committee meetings against the each Facility, which allows audits to verify process but does not allow for any automation's or trend reporting needs.
We have decided to introduce a new Credit Decision object into the system which will allow for lenders to automate first gate knockout decision points, helping to reduce the credit teams workloads for outliers. We will also introduce some standard picklist & value fields into the mix so that lenders can start to capture some of the credit decision information which is usually buried within documents (i.e. annual revenue numbers, insurance details).
We will also produce a few process automation templates that customers can modify and activate, to start the journey towards rules based credit decisions.
Everything within this new feature set will be auditable, reportable and configurable.
Please let us know if there are any key integrations within your region which you would like to be considered.