Configuration
We will send you the standard set of policy rules for you to review. The policy rules are flexible and can be changed to suit your risk appetite.
Each policy rule set employs four 'Strategies'. The strategies are basically value bands, decided by you, and determine which rules can be triggered based on the amount the applicant has applied for.
This allows you to vary your rules based on the risks associated with loans of different values.
Each rule can be switched on or off. This is indicated by a tick and a cross:
Some rules have additional flexibility. For example a Default (DEC08 - DEC10) could result in a decline decision if it were for £500 and in the last 12 months, but that value could also be set at £300 or even £1,000. and the timescale could be 3 months or 30.
Your initial policy rules will be configured by you with the help of your client success manager. The aim being to have a policy set that aligns with your current risk appetite.
Testing and invite to dashboard
Once the initial policy rules are set we will move you onto our dashboard. You will receive a series of emails telling you how to assign users to your dashboard and giving you an overview of the services, so you can commence testing.
All support communications are handled within the dashboard, where you will be able to communicate directly with your client success manager and our support team, allowing for real time support during office hours.
You will also have access to the Help Centre which includes all of the articles about how to use the Decision Engine.
User Acceptance Testing
The purpose of UAT is to ensure that the Decision Engine works as expected and that you become familiar with the dashboard.
The version of the dashboard you access during UAT will have the set of policy rules agreed between you and your client success manager, including your value strategy bands.
You will be accessing a semi-live database. The loan applicants you enter will be on the database but some of the data returned will be dated. This is a test database and it should therefore not be used for final decision making.
We will be contacting you during UAT to exchange information during the test phase so we can ensure that the decision engine meets your needs. This will include working to align the results with your risk appetite.
This process usually takes no longer than two weeks.
Review and finalisation
After testing is complete the results will be reviewed to ensure the results meet your expectations and needs. At this point the 'final' policy rules will be set up and a go live date will be agreed.
Once the set up has been finalised the rules can be changed again in the future, allowing you to pivot your risk in response to external or internal factors. This includes strategy amounts and all rules.
The review phase never really ends. We will continue to review decisions made within the dashboard to ensure the rules are meeting your needs. As your risk appetite may change over time, the rules will need to be adapted.