On this page are answers to some frequently asked questions, particularly relating to the MAPS application processing and scoring engine.
What are Automated Decisioning Systems?
Automated decisioning systems are software applications that have been specifically designed to make complex, reocurring decisions using pre-determined business rules and application data that is collected from a variety of sources. They eliminate many routine, manual, paper based processes and bring a variety of business benefits, such as improved process efficiency, advanced management information and reporting, objective implementation of credit policy, and improved application turn around and customer service.
What functions does MAPS perform?
MAPS provides an end-to-end solution for credit origination and account maintenance. This ranges from initial capturing and validation of application data, application of business rules, credit scoring (which may or may not include a credit bureau check), application of credit scorecard(s), making a decision on the application, and post decision actions (such as creating the account on a legacy system or CMS).
The intelligent, web based MAPS GUI interface is a powerful, user friendly tool that enables a ‘360 degrees’ view of the customer to be generated, assisting contact center staff in providing a superior level of customer service. MAPS can also create documentation, and enables supporting documentation and customer correspondence images to be attached to an application.
What advantages does MAPS bring to the process?
MAPS enables data capture from a variety of channels (e.g. intranet, internet, paper based) and makes consistent, objective decisions very rapidly in a complex and often changing environment. The MAPS system combines advanced business rules processing with scorecards and decision automation to ensure that the right offer can be made to every customer, every time.
MAPS has proven to be a fast, reliable, and flexible system, and is used by major international financial organisations to improve processes, optimise credit scoring, and reduce credit risk exposure by 15 to 25%. It is easy to deploy, and is designed to leverage of existing infrastructure where possible, thus maximising an organisations return on its Information Technology investment.
How does MAPS differ from other Automated Decisioning Systems?
The modular architecture of MAPS empowers an organisation to select and implement the features and functionality that will deliver it the most business benefit. This means that the system can be implemented to conform with an organisations preferred business process, instead of the business process having to change to accommodate the system.
MAPS is a web based system, with business rules for each product type stored in an independent code silo. This brings the dual benefits of speed to market for new product releases, and also ensures that any changes made to a products processing flow does not affect other products.
What environment does MAPS fit into?
MAPS is a platform independent, JAVA based application that can be installed on any J2EE compliant webserver. The flexible architecture of MAPS allows it to easily communicate with other systems, such as mainframes and customer information systems for opening new accounts, and external systems, such as credit bureaus and other third party data sources. This information can be fed into MAPS to assist in the decision making process.
Who are Proaxiom?
Proaxiom is a dual hemisphere software development organisation with clients located in New Zealand, Australia and the United Kingdom. Our area of specialty is in designing, implementing and maintaining automated decisioning, case management, and credit scoring systems to organisations operating in the credit, financial and telecommunications industries.
For more information on Proaxiom and our solution offerings, please contact Proaxiom directly.