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SERVICE NEWS
New ILOG Lending Practice
Practice benefits banks
Financial services institutions (FSIs) can implement consumer lending solutions faster and with less risk using ILOG Lending Practice. Available through ILOG Consulting Services, ILOG Lending Practice combines ILOG consultants’ expertise from building lending applications with tools and templates that address specific lending process functionality. It complements the ILOG JRules Business Rule Management System (BRMS), and enables FSIs to more quickly deploy solutions that can render credit decisions in seconds, and reduce the loan processing cycle from months to days.
“As an information services company and provider of decisioning and analytical tools,” says Lisa Fiondella, senior vice president of Equifax Technology Solutions LLC, “Equifax believes that ILOG’s introduction of a professional services practice is a welcome development in our industry.”
According to Tower Group, BRMS is essential in lending, one of the most complex financial processes because it involves thousands of policies in mortgage credit evaluation, underwriting and loan pricing. Additionally, FSIs are hindered by manual processes, as well as loan origination and servicing systems that are inflexible and not integrated. To address these issues, FSIs rely on BRMS-based lending solutions, which offer greater accuracy and consistency through best practices and a faster business response time. BRMSs also centralize shared business rules, reduce IT maintenance costs, improve processing speed, and reduce time to market for new product introductions and price changes.
ILOG Lending Practice allows FSIs to quickly realize benefits such as a shorter loan processing cycle and automated credit and program eligibility decisioning. It targets policy automation and streamlining initiatives related to loan origination, underwriting and servicing. It includes implementation roadmaps, methodologies and templates for eligibility determination, pricing and risk assessment (scorecard, rating and more), as well as modeling tools, support for industry standards such as MISMO, best practices and access to ILOG expertise for lending applications. It also complements the expertise of ILOG partners serving the customer lending and credit industry.
ILOG counts many leading lending institutions and financial services among its customers, including CitiStreet, Countrywide Financial, Equifax, Fannie Mae, MetLife, Option One Mortgage Corp., Radian Guaranty Inc., Visa International, Wachovia, Zurich Financial Services and other leading Global 2000 companies and governments worldwide.
For more information on ILOG Lending Practice, please visit http://lending.ilog.com.
Online forums
Bringing us together
Winning applications come from an exchange of knowledge and ideas among users and experts. ILOG is making this possible for its customers through a new set of online discussion forums.
The forums serve as a Web-based community for ILOG products. Not meant to supplement ILOG’s existing world-class technical support, the forums let users share information, tips and know-how on applying ILOG software.
The forums are available to ILOG Business Rule Studio users, and customers under maintenance and academic agreements. ILOG employees regularly join in, offering suggestions and learning from other participants.
Please join us to share your knowledge and learn what others have experienced with ILOG software.
The new forums are available through the ILOG Customer Services website at http://support.ilog.com/help/forum.
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