Decision models are set of rules that encapsulate the risk acceptance criteria for a lender to make a loan decision.
In Lendsqr, these rules or decision models are processed by our service called Oraculi. Specifically, Oraculi handles all modules needed to form a lender’s decision model. It works as a modular, sequential service where each check is a separate module. Moreover, the checks run one after another in a set order. If a user fails a check, they cannot proceed to the next module unless the rules allow it.
Each lender has a default decision model generated when they are set up on the Lendsqr Admin Console. This is to ensure that every detail of your customer is thoroughly reviewed and assessed.
However, you can create new models and link each model to each of your products. To configure your decision model accurately, you must first understand JSON as this is the format used in configuring the decision models.
Watch the video below to learn more about this feature:
Also read: How Lendsqr is using AI to transform its processes