What's new?
We have upgraded Planky's Decision Rules.
We have added the option to include multiple loan products that correspond to different credit risks and loan amounts. For each product, you can define complex decision rules for PASS and REFER conditions using over 150 variables from Open Banking Data.
When a new decision is made, you can easily see the explanation for why that particular decision was made. Additionally, it is now possible to run these products in Test Mode, allowing you to experiment in a sandbox environment before your underwriters see them.
The tool will help your organization to streamline credit decision-making, improve accuracy and eliminate errors, ensuring consistency and increase speed and efficiency by automating human decision-making.
How to use it?
The tool is available in the Customer Dashboard, and you can access the Decision Rules from each report. The first step is to define all the products for which you want to have automated credit decisions, and then you can define conditions for SUCCESS and REFER.
Is it simple to use?
While many vendors offer automated credit decision toolkits, they are often complex and hard to understand. Our approach is to provide you with a simple-to-use tool and a user-friendly interface so that your team can easily build and understand the decisions. You will always see an explanation by default, explaining why a customer has passed successfully or was rejected.
Creating a single product and its corresponding decision only takes a few minutes of work.
Why do lenders use automated credit decisions?
The primary advantage is the ability to make quick decisions that are error-free. It also ensures consistency by automating human decision-making.
Automated credit decisioning can help companies streamline their credit decision-making process, improve the accuracy of their assessments, and increase the speed and efficiency of credit provision or denial.
Ready to transform Open Banking data into automated decisions?
Eliminate manual scoring and decision-making processes and start automating decisions for speed, accuracy, and efficiency.
Register today to have automated credit decisions in your business.
