Academic journal article ABA Banking Journal

Decision Support for Lending and Other Business Applications

Academic journal article ABA Banking Journal

Decision Support for Lending and Other Business Applications

Article excerpt

Mindbox, Inc., Novato, Calif. (formerly a division of CRM vendor, Brightware), offers a hybrid system that incorporates both rules- and case-based decision support technology for retail and wholesale applications such as mortgage origination, loan underwriting, or credit authorizations.

Already in use by Fannie Mae and Freddie Mac as well as mortgage lenders HomeSide Lending, Countrywide Home Loans, and Advanta, Mindbox Technology is also in play at financial institutions that include Chase, CitiBank, and PNC Bank.

In contrast to simpler, rules-based systems which work on an "if X is true then do Y" basis, the case-based technology uses an inference engine along with rules.

With the inference capabilities, the system, in effect, examines the factors or conditions presented in a new case and compares them to past actions taken, as indicated by the case-history database.

The system "learns" from experience by adding each new case to the database, and can determine the exact match (if any) between each new case and appropriate "historic" cases in the database. …

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