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Polaris Software has said that its Intellect Business Rule Engine is a credit decision engine that enables Polaris's customers to profile and segment customers for loan products and aids cross-selling and up-selling of related asset products.
Polaris Software has also said that the system when coupled with Polaris's Intellect Origination and application processing solution, completely automates the process of filtering bad applications based on configurable and flexible pre-qualification checks. This results in processing of more applications and credit offers only to genuine customers.
As implemented at HDFC Bank at this stage, the system performs online application scoring and policy evaluation. The next phase of solution implementation is focused on computing behavioral scoring of retail loan applications in conjunction with the bank's data warehousing system, according to Polaris Software.
Munish Mittal, executive vice president and head of technology solutions group at HDFC Bank, said: "We evaluated multiple international and domestic solutions for introducing scoring and rules based Loan approval process and chose Polaris's Intellect BRE solution on account of its relatively lower start-up cost, easier integration capability with Bank's disparate loan origination and application processing systems as well as availability of local systems integration & maintenance support."
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