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Web based Product Configuration and Pricing Engine (PPE) for
Mortgage firm
ValueMomentum assists Client introduce dramatic flexibility, innovation and speed-to-market for developing and refreshing products

Industry
Lending

Client
Leading Mortgage Bank

Needs addressed
Product Definition and Configuration, Rating and Dynamic Pricing

• ValueMomentum is assisting this leading Mortgage Bank implement an Enterprise Product Engine that supports nearly 10 Business Channels and maintains information on over 500 products.
• Currently, loan officers recommend products based on their implicit biases and knowledge rather than best-fit recommendations. By deploying this system, this Mortgage Bank aimed to reduce sales errors and improve profitability and conversion rates.
• Brokers, Loan officers, Product Managers and Channel Partners were expected to be provided with a web based Product management, Product Configuration, Pricing, Quoting and Locking platform (in short PPE)
• Product Managers would use the PPE workbench (model to code) environment to define products, set up eligibility and configuration guidelines, set up pricing guidelines, discounts, points, locking, re-locking guidelines, rate adjustments, SRP adjustments, subsidies and guidelines for availability of products for Channels.
• Channel managers would access products that are available for their channel and add additional guidelines specific to their channel as well additional channel specific rate adjustments
• Brokers and Loan officers would use the web-based PPE for entering Customer information in a series of steps, access information about the Customer such as Credit reports, analyze the Customer needs and what he/she is eligible for, configure the appropriate product and price it with options

Technology Solution delivered
Business Rules Management Systems (BRMS),Application Maintenance & Transformation

• ValueMomentum was awarded a fixed-price and time contract and was responsible for the end-to-end implementation of this project.
• The responsibilities handled by ValueMomentum included:
  • ValueMomentum gathered requirements, built and demonstrated a prototype for proving the viability and providing a budget plan to the executive management
  • The PPE workbench environment included a navigation tool for easy navigation and search of specific products and related guidelines.
  • Performed all life cycle steps right from Inception to Elaboration to Construction and Transition.

Execution model
At site, Fixed price contract

Technologies used
Blaze Advisor, EIP, Application server, ARAD development tools, J2EE

Benefits delivered

• Successfully delivered the project on-time and within budget
• Workbench has been well received by product managers and significantly reduced time to market with new products and changes to existing products
• Channel managers and Channel Partners are poised to capitalize quickly on market opportunities, while providing a mechanism to increase effectiveness and measure of marketing efforts

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