Decision Engine
The TurnKey Lender decision engine comprises two key elements that significantly simplify the decision-making process and help lenders assess customer creditworthiness to make informed decisions:
Decision Rules: This powerful feature enables automated, efficient, and consistent evaluation of loan applications. By setting specific thresholds and actions, lenders can streamline the decision-making process, reduce the risk of fraud, and ensure compliance with lending policies. (see Setting Up Rules for more details)
Scoring Engine: An AI-based, big-data analysis algorithm that uses data collected from loans within the chosen region and business area to predict the risk level of each loan. By analyzing this data, the scoring engine assigns a score to each loan. Based on the score, loans can be approved for further processing, automatically rejected, or flagged for manual review. (see Using Scorecards for more details)
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