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This update allows enterprise customers to customize risk management rules, improving informed lending decisions based on specific business needs.
Lynx provides lenders with a comprehensive view of small business owners by utilizing data and insights for faster, more accurate decisions, reducing origination risk, and enhancing portfolio ROI.
The rules engine's new features include:
Integration: Incorporates seamlessly with Lynx's features, including data enhancements and verifications for informed rule creation.
Outcome Definition: Allows precise control over lending decisions by letting users set specific outcomes for each rule.
Real-Time Capability: Instantaneously facilitates swift decisions by comparing incoming data against established rules.
Transparency: Offers clear decision logic for audits and regulatory compliance, promoting trust and accountability.
Custom Indicators: Enables creating tailored alerts and indicators for comprehensive application reviews.
Our Opinion:
Rapid Finance's adoption of a cloud-based rules engine in lending processes can fundamentally change how borrowers are evaluated for creditworthiness. The platform's flexibility, transparency, and real-time capabilities make it an attractive option for lenders seeking to improve their risk management practices and better serve the needs of small business owners.
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