Intelligently Automate Your Business
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By adding intelligence and efficiency to your critical business processes, MindBox greatly simplifies the task of providing faster and more individualized service throughout your enterprise. The MindBox product set, a suite of powerful artificial intelligence products, helps reduce costs and risk by using a proven approach that enables rapid automation of your unique policies for complex business processes.
From loan origination, customer service, and loan underwriting to pricing and deal negotiation, MindBox provides a flexible environment that integrates advanced rule-based and case-based reasoning technology with distributed, object-oriented applications. This platform helps you:
Tailor product offerings and deal parameters to individual borrowers
Automate complex business processes and policies
Implement intelligent automated borrower interaction and decision-making systems that optimize every interaction
Capture the knowledge assets and best practices of your top performers
Share knowledge with your entire organization over the web or corporate intranet
Help ensure the compliance and auditability of your decisions
Automate call center response, improving customer service and decreasing costs
One of the most powerful aspects of Advanced Delivery Engines’ MindBox products is the PowerEditor. This user friendly tool allows business managers to define and maintain system rules and policies through a graphical editor, without writing code or relying on IT. In addition, the PowerEditor allows the business user to organize the structure and hierarchy of the rules.
Optimizing Every Contact with Domain Specific Component Products
MindBox’s financial services domain components fit precisely into the workflow of your lending process. The solution helps provide all the functionality required to implement an entire lending process from credit check to deal structuring to pricing to underwriting. Individual components can be used or combined within your platform to automate the lending process. And they are structured to capture your organization’s best practices in systems that can be rapidly deployed. In addition, the component approach allows for phased implementation.
MindBox leverages an institution’s data and sophisticated decision technology to complete the following steps:
Integrate credit data from multiple sources
Analyze and act upon that credit data according to specific company policy
Provide explanations of credit decisions made and why subsequent actions were taken
Provide complete, intelligent product selection capability, including appropriate product matching for a specific customer in addition to implementing product exclusion and eligibility decisions
Price the final product, providing the best possible offer for the specific customer
Completely underwrite the deal, subject to conditions
Provide a list of conditions that must be met for the loan to be granted
Provide a suggested list of debt consolidation strategies the borrower might take to lower costs and create a better debt portfolio
Structure a deal, specific to this customer, including the cross-selling of other products, specifically HELOCs and line of credit products
Include the MindBox PowerEditor, used to maintain the rules in a user friendly, recognizable environment
Flexible. Extensible. Scalable.
MindBox can be quickly implemented on a variety of platforms, including Microsoft Windows, Solaris, and Linux. The components integrate with all ODBC-compliant databases. Because the solutions employ reusable object modules, rule bases and case bases, the MindBox Product Family can easily adapt to integrate new technologies and business requirements. It can also scale to accommodate increased volume demands over time. Your current investment in these products will allow you to update your system over time — adapting and extending it according to your business requirements.
Provide the Best Possible Loan at First Borrower Contact
Market fluctuations and limitations on marketing activities make it more important than ever to present the right product at the right time – and to deliver that product as efficiently and profitably as possible. Major financial institutions cannot wait for borrowers to ask for the right product or determine for themselves exactly what they need. Instead, the lender must act as a trusted advisor. Whether on the web, in a branch, with a broker, or over the phone, lenders must offer the best possible solution to that customer. That solution includes the best product at the best price, within parameters that both the lender and the borrower can accept.
Intelligent Systems Leverage Customer Knowledge
A company’s knowledge of its customers and capabilities is one of its most important assets. Successful companies use their customer knowledge and current information to dramatically increase sales, improve customer relationships and anticipate market changes. With advanced intelligent systems, any size provider can combine historical data with customer information gathered during an interaction and use this complete picture to provide the right product at the right price, when and where it is most appropriate.
Simplify the Application Process for Your Borrowers
Intelligent systems simplify complex decision processes. For example, an automated, web-based loan underwriting system streamlines the loan approval process. It provides immediate, consistent and accurate answers. It ensures compliance with fast-changing regulations. As a result, CoreLogic Advanced Delivery Engines rules processing helps improve productivity, reduce bad-debt risks, and enhance customer loyalty through personalized service.
Maintain Best Policies in a Repeatable Way
Intelligent automation enables organizations to maintain policies in an automated, repeatable manner. Policies are stored and applied just as data is stored and used in an automated environment. This automation allows you to provide your solution to the borrower when and where needed. While it helps answer customer questions accurately and inspire confidence in your company, Advanced Delivery Engines tools provide a price and product specifically tailored to that individual’s requests and requirements helping to provide the best possible offer.
Based on your company rules, CoreLogic technology can determine eligible products as well as those that are the most appropriate fit based on the borrower’s specific requirements and preferences. Intelligent, automated, multi-channel systems make “anytime, anywhere” sales and service possible.
Leveraging Technology to Increase Your Competitive Advantage
While some firms provide rule-based technology with minimal financial services expertise, CoreLogic leverages industry leading databases, extensive domain knowledge and a longstanding history of implementing comprehensive mortgage loan best practices.
Rule-Based Systems – the Foundation of Automated Decision-Making
Our PowerEditor Business Rules Management System allows your business users to maintain the rules and policies without the need to make technical changes to systems. Our teams can help your staff learn how to maintain and update the system using this editor and we can train your IT staff on the best ways to integrate and administer the system in your unique environment.
MindBox helps solve the business problems of today’s financial services providers by delivering a significant competitive advantage through the use of intelligent applications.
For more information about CoreLogic Advanced Delivery Engines and MindBox, contact us today at email@example.com or call 866.774.3282.