What if you can create financial clarity even before clients bid on a home?

Preliminary validation of

mortgage applications

A Tier One Bank

The Industry
Financial services

The company
Our client is a bank. They are a major player in the mortgage space and offer financial advice from a number of brick and mortar offices in a hard franchise format.

The result
The bank used Rulecube to rate mortgage applications in the earliest stage, if needed even before the official purchase of the house. This is called pre-validation.

The financial advisors within brick-and-mortar branches of this organization all use the same financial advice software. When they consult with their clients, they enter personal data into the advice system. As the file is enriched with information, the system continuously monitors if the mortgage application is feasible. It does so by taking over 200 business rules into consideration that apply to mortgage applications.

The result is presented to the advisor as a traffic light indicator. Detailed information on the reasons for the red, yellow or green light is provided as well. This helps the advisor steer the client to a healthy financial situation. It is also a helpful tool in the process of bidding on houses, as the advisor can give the consumer more confidence about the mortgage application.
The 200 business rules are defined in Rulecube. The client information is collected in the advice application of the bank. This then communicates with the Rulecube API and displays the rating end-result and details on the application validation.

The bank generally works with a consultancy firm to coordinate the development process of bespoke solutions. In this case, the consultancy firm, the advice application vendor, and Rulecube collaborated to produce the pre-validation. The definition of the business rules was done during interactive sessions with the business specialists of the bank.

Rulecube creates documentation and a live API in real-time for any business rule built. That is why the implementation of all 200 validation criteria could be realized in just six weeks.

Get a demo

Want to learn more about how you can use Rulecube to build a pre-validation for your company? We are happy to elaborate during a personal demo.