HDFC bank implements all new, powerful INTELLECT GUB from Polaris Software

Polaris Software, announced that HDFC Bank has implemented Polaris’s Enterprise Business Rule Engine for its Retail Asset Lending Business comprising auto and personal loans. This deployment will enable HDFC Bank to target customers better and manage credit risks effectively.

Polaris’s Intellect Business Rule Engine is a powerful credit decision engine that enables Polaris’s customers to profile and segment customers for loan products and aids cross-selling and up-selling of related asset products. Intellect Business Rule Engine is the credit decision backbone that powers Global Universal Banking (GUB) - Intellect 10.0, the most comprehensive banking platform built using the next-generation Service Oriented Architecture (SOA) technology.

The system when coupled with Polaris’s Intellect Origination and application processing solution, completely automates the process of filtering bad applications based on configurable and flexible pre-qualification checks. This results in processing of more applications and credit offers only to genuine customers.

As implemented at HDFC Bank at this stage, the system performs online application scoring & policy evaluation. The next phase of solution implementation is focused on computing behavioural scoring of retail loan applications in conjunction with the Bank’s Data Warehousing system.

Munish Mittal, EVP & Head, Technology Solutions Group, HDFC Bank, said, “We evaluated multiple international and domestic solutions for introducing scoring and rules based Loan approval process and chose Polaris’s Intellect BRE solution on account of its relatively lower start-up cost, easier integration capability with Bank’s disparate Loan origination & application processing systems as well as availability of local systems integration & maintenance support.”

Intellect Business Rule engine is an enterprise wide system designed on SOA architecture that can be extended across the lines of business. This centralized business rule repository provides the ability to view risk across portfolio of products and therefore enables higher control and risk management.

Implementing Application & Behavioural scores along and integrating Business Rules engine with Bank’s existing Enterprise de-duplication solution for Loan & Credit Cards applications has been a major landmark in our pursuit to make retail Credit processing template based and standardization of Credit policy administration, Mr. Mittal added.

Polaris’s BRE solution further strengthens Banks straight through processing capability which integrates the good / bad internal de-duplication of loan/credit cards applications, application & behaviour score and Credit Bureau reports along with Bureau scores in real time as will as forms integral part of Bank’s SoA initiative.

“Credit decision framework is a critical function in the distribution of the loan products to end customers. Having successfully partnered Polaris for automating our credit card application process, we chose to implement Polaris’ Intellect Business Rule Engine. This cost effective solution will enable faster time to market our lending products and help us adapt quickly to changing risk practices,” said Mr. Mittal.

Commenting on the implementation, Govind Singhal, COO Global Delivery and Operations, Polaris Software Lab, said, “We are excited that HDFC Bank, one of the fastest growing banks in Asia has gone live on Intellect Business Rule Engine. This solution will enable HDFC bank to provide credit faster to its genuine customers and thereby enhancing the customer experience and the bank’s profitability.”