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Lending Process Example Chordiant business process models can be used to orchestrate end-to-end business processes. These process models allow for rapid implementation of consistent processes across multiple lines of business as well as multiple channels. Chordiant business processes can be adapted or changed quickly through the use of Chordiant 5 Business Process Designer or Chordiant 5 Rules Designer to meet the rapidly changing business, competitive and regulatory nature of the lending industry. An example of one of the Chordiant business process models can be viewed in several different manners including the Process Description, the Process Function, the Process Diagram and through the interface that presents the guided process to the user. The following process outlines a Change Credit Line process that could result from a call into the contact center, a customer visit to a local branch or from a Web self-service interface. This process often reveals the opportunity to upsell or cross-sell the customer to a different product or service and represents a prime chance to build customer loyalty. Change Credit Line Process DescriptionThis process allows for the consistent and equitable processing of credit line increase requests. Whether it is for a credit card, secured line of credit or overdraft protection, predefined rules can be intelligently executed to evaluate and decision a request. This allows an organization to stay in compliance with fair lending regulations. This is a relatively simple process that requests a small amount of data at the user level. Then the back end extends out to the credit bureau and credit scoring model. User prompts can be designed as the institution desires – e.g. giving full information when a request is declined, or monitoring the message where users are not comfortable giving ‘bad news’. Change Credit Line Process Function Accept and decision a credit line increase request for a credit card or overdraft protection. Change Credit Line Process Diagram The accompanying diagram shows how the change credit line process access multiple back-office and outsourced systems to help decision the credit increase.
The user can be prompted to collect specific information needed to support the credit line increase request and will be provided a decision based on credit scoring, risk and any other rules-defined variables selected by the lending institution.
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