LoanPro's integrated decision engine empowers credit providers to improve their accuracy, streamline their approvals, and keep their data visible. 

The decision engine incorporates several interconnected steps as it vets applicants and moves them through your custom origination process:

1. Knockout rules. Before spending any time or money on an application, LoanPro's decision engine can automatically reject accounts that are ineligible for your products, like minors or applicants from countries outside your operating area. 
2. Data fetching. LoanPro pulls data from your chosen vendors for underwriting, KYC/KYB, and other verifications.
3. Predictive models. That data is plugged into predictive AI models customized to your products.
4. Manual review (optional). If necessary, you can include a manual review step before approving an application. By limiting manual action to this last step, you lighten and simplify your agents' workload.

Setup and configuration

The decision engine requires setup for contracting prices, selecting data vendors, and  connecting it all to your LoanPro tenant. To kick off the process, reach out to your normal LoanPro contact, and they'll help you get started.

We'll also need your input on what how your rules and models should work. These can be anything from simple, if-then statements (e.g., if  an applicant's credit score is between A and B, offer them $X and Y% interest) to nuanced and multilayered models. Whereas most decision engines lack flexible decision flows and lock you into specific configurations, LoanPro's decision engine is adaptable, allowing you to update your rules and models to keep up with macroeconomic changes.

Decisioning process

The specifics will be customized to match your business logic and credit models, but the overall decisioning process will look something like this.

1. LoanPro receives an application. A prospective customer (either consumer or business) applies for a loan or line of credit through your normal application process.
2. Applicant data is sent to the decision engine. LoanPro sends the relevant details from the application to the decision engine. (See the list of applicant data in the fold below.)
3. The decision engine runs the application through your custom rules and models. The decision engine processes the application and returns an approval with a recommended interest rate, repayment terms, and any special conditions that require manual review according to your business logic.
4. The decision engine returns its results to your LoanPro tenant. The decision engine sends a webhook to LoanPro's API indicating whether the application was approved, denied, or requires manual input, as well as the terms that your model output. LoanPro then updates the account, changing status and custom fields with data from the decision engine.
5. Manual review (optional). If your process includes manual review, you can manage it through LoanPro's tools like queues, smart checklists, and agent walkthroughs.
6. The applicant is notified. Upon your decision, LoanPro can automatically send a notification informing the applicant and notifying them of any next steps, like signing their contract and adding a payment profile for funding.

And that's all there is to it. Just like you can customize the specific rules and models the decision engine uses, you can also customize how the process works in LoanPro, like the tools used in your manual review or when and how notifications are sent to applicants.