See how advanced core banking systems help SME lenders stay competitive, adapt to market shifts, and drive greater efficiency.
Imagine a lender who can customize their system with a few simple clicks. This level of flexibility allows them to quickly enter new markets, generate fresh revenue streams, and implement new business rules, fee models, and event-based workflows. This is exactly what users of our Core Banking platform can achieve. With the integration of our new business rule engine, clients can now roll out new features in mere minutes or days.
Diving into the Feature
The business rule engine is essentially a customizable framework that allows you to define and execute rules. Think of it as an empty container that can be filled with the specific variables needed to craft your rules. Our cloud-based core banking system provides this container, giving you the flexibility to populate it with rules tailored to your needs.
For instance, if a borrower passes away, the lender can establish specific rules to handle this event. These rules are entered into the system and automatically activated via workflows, such as stopping communication with the deceased borrower and halting interest calculation on the loan.
What Are the Benefits?
The business rule engine is a low-code tool. Traditionally, making adjustments to a banking system requires extensive change requests, development sessions, and deployment processes, often taking several weeks or even months. With the business rule engine, our clients are no longer reliant on third-party developers and can implement changes with just a few clicks.
Additionally, the engine allows you to create test cases to verify the accuracy and consistency of your rules. Any errors are immediately flagged, ensuring the integrity of your system.
Users also benefit from features like inheriting rulesets and using templates or libraries. As new rules are introduced, it’s crucial to track when they are activated, and our system does this automatically, ensuring efficient rule reuse and preventing loss of valuable information.
Ultimately, these capabilities provide lenders with unmatched flexibility.