Hanseatic Bank automates credit underwriting with ILog

Hanseatic Bank automates credit underwriting with ILog

Germany's Hanseatic Bank has implemented ILog's business rule management software (BRMS), JRules, to automate its credit underwriting and scoring system.

The bank worked with Fernbach Software to build a BRMS-based application that will help staff to provide a consistent customer services and ensure compliance with industry regulations.

The new system allows the bank to execute new rating and scoring policies governing its credit applications.

Prior to implementation, underwriting and scoring rules were hard-coded in a proprietary system and rule changes could take up to six months. The rules are now managed in a separate system, allowing them to be easily managed, changed and maintained.

The proprietary rules driving the underwriting process - including the rules affecting customer profiles and industry regulations - are managed in a repository. The repository also allows greater control over rule versions and audit trails, including which rules are executed and when.

Stephan Klimmek, head of project with Hanseatic Bank, says the bank's 250 clerks need to follow the same internal rules and regulations in order to provide consistent customer service: "Using ILog JRules, we can ensure consistency and reduce processing errors, while improving productivity through an automated system."

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