HDFC Bank Implements All New, Powerful INTELLECT GUB – Credit Decisioning System From Polaris Software
leading Financial Technology company, 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.
“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 and 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,
Operations, Polaris Software Lab, said, “We are excited that HDFC Bank, one
of the fastest growing banks in
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.”
About HDFC Bank
Promoted in 1995 by Housing Development Finance Corporation (HDFC),
banks providing a wide range of financial products and services to its over
15 million customers across hundreds of Indian cities using multiple
distribution channels including a pan-
banking, net banking and mobile banking. Within a relatively short span of
time, the bank has emerged as a leading player in retail banking, wholesale
banking, and treasury operations, its three principal business segments.
The bank’s competitive strength clearly lies in the use of technology and
the ability to deliver world-class service with rapid response time. Over the
last 13 years, the bank has successfully gained market share in its target
customer franchises while maintaining healthy profitability and asset quality.
As of
branches and 3,382 ATMs in 550 cities.
For the quarter ended
51.36 billion (
(
revenues (net interest income plus other income) for the quarter ended
30, 2009
billion (
the quarter ended
30.5% over the corresponding quarter ended
The Bank’s total balance sheet size increased by 10.38% from INR 1685.98
billion (Rs.
(
billion (
Total income for the year ended
196.22 billion (
2008
Leading Indian and international publications have recognized the bank
for its performance and quality.
For more information please log on to: http://www.hdfcbank.com
About Polaris Software Lab
Polaris Software Lab (POLS.BO) is a leading Financial Technology Company,
with its comprehensive portfolio of products, smart legacy modernization
services and consulting. Polaris has talent strength of over 9000 solution
architects, domain specialists and technology experts. The company owns the
largest set of Intellectual Properties in the form of a comprehensive product
suite namely Intellect(TM). Intellect is the first pure play SOA based
application suite for Retail, Corporate and Investment banking.
Polaris is headquartered in
financial hubs including
York
visit http://www.polaris.co.in/.
For further information, please contact:
Sowmya Ramachandran
Corporate Communications
+91-988-441-3174
SOURCE Polaris Software Lab Ltd.