Central Decisioning and Pricing Engine
Bajaj Finserv Uses ACTICO’s Technology to Minimize Time to Market.
About Bajaj Finserv
Bajaj Finserv Ltd (BFL) is one of the largest financial institutions and the largest financier of consumer durables in India. As of 2017, it has 294 consumer branches and 497 rural locations with more than 33,000 distribution points.
Make Credit Decisions
Replacing the Rule Engine Embedded Inside the Loan Origination System
At Bajaj Finance, all business rules and credit decision parameters were firmly implemented in the loan origination system. It decided to move the same to a flexible and agile environment of ACTICO Rules.
Challenge
Inconvenience Due to Hard Coded Business Logic
The maintenance of business rules and decisioning strategies in the in-built rule engine was inconvenient as most of them were hard-coded. The target was to decouple the maintenance of business rules from the loan origination system and empower business users to adapt the rule models.
Objectives
- Replacement of inbuilt rule engine
- Decoupling of the business rules maintenance from the loan origination system
- Empower business users to take ownership of credit decisioning parameters
Solution
Quick Deployment of New Business Rules
ACTICO Rules speeds up time to market of new business rules and makes maintenance easier. This is made possible by the graphical modeling environment, which makes the development time faster and enables better organizational harmony by putting more power in hands of the business user. The solution also seamlessly integrates with the company’s loan origination system and data warehouse.
IMPACT
More Agility, Faster Time to Market
Bajaj is now able to roll out business decisions much faster, as the company’s business users are now in control of the decisioning and pricing parameters. Furthermore, less regression testing is required since rules are modelled using ACTICO, and business teams can perform simulations within rule engine itself before going live.
„ACTICO Rules allows us to quickly deploy the decisioning workflows on the platform without having to extensively develop programs or software coding.”
Anurag Chottani, CIO
ACTICO Rules – the Business rules engine
Bajaj is now able to roll out business decisions much faster, as business users are now in control of the business logic.
Read more success stories.
Secure Investment Suitability with ACTICO Rules
Learn how UBS Hong Kong succeeded in implementing suitability checks to ensure investor protection.
Basel-II-compliant Rating Models According to IRB Approach
Why did ACTICO meet Maybank’s demands?
Multi-Channel Pricing System at ASSU 2000 Insurance
Display pricing models in all sales channels, strengthen competitive position, and accelerate time to market.