You are here: Solutions for Lending

iFoundry (formerly marketed as DecisionFoundry) is a suite of engines and domain modeling workbenches that can be leveraged, individually or collectively, to rapidly set up enterprise-class systems for managing products, rate & fee plans, rate & fee agreements and pricing.

Enterprises can leverage iFoundry Workbenches for rapid modeling of:

• Product hierarchies, complex product assemblies, product rules and product eligibility
• Rates, fees and business terms agreed with different channel partners and customers
• Rate plans and fee plans for different types of customers and segments
• Complex pricing formulae and flow control algorithms for calculating prices
• Models and rules to determine the segment a customer belongs to

Enterprises can leverage iFoundry Engines for accurate, consistent and high-performance transaction processing for:

• Retrieving the most-appropriate products, rates, fees for a given transaction
• Calculating Prices, recommendation of product features and options, at transaction-time, based on customer life-time-value and risk

The iFoundry suite has been proven in multiple enterprises, incorporates engineering innovations for world-class transaction processing performance and delivers up-to 60 % savings in system maintenance budgets, while empowering business in managing complex business logic and calculations without programmer involvement.

Powered by iFoundry - Highlights:

Consolidate

• Product definitions, product & feature availability rules, product eligibility rules
• Rates & Fee Plans for different market, risk segments and transaction types
• Rates, Fees and Terms for different customers and channel partners
• Pricing formulae & algorithms (product & bundle pricing, fee pricing, account pricing, portfolio pricing, invoice pricing etc)

Manage

• Template driven tools for authoring, modifying, testing and deploying product-plans, rate & fee plans, rate & fee agreements, pricing-plans
• Support variations of product-plans, rate & fee plans, rate & fee agreements, pricing-plans to suit different markets, states, affinity-groups, private-label-clients

Automate

• Product options presentment, assisted product selection, product eligibility
• Account (Insurance Policy Account, Loan Account etc) Quoting-Rating based on rate plans defined for different markets, risk segments
• Detailed underwriting
• Fee Pricing based on fees and terms defined for different customers and channel partners
• Fee Pricing based on fee plans defined for different market / segments,
• Bill Pricing based on aggregation of all revenue bearing elements in a customers’ relationship with the enterprise like loyalty discounts, deal pricing, account prices etc

Powered by iFoundry - Benefits:

• Realize up-to 60 % cost reductions in IT budgets for managing product-plans, rate & fee plans, rate & fee agreements, pricing-plans
• Deliver customer-specific / transaction-specific product, rate & fee and price guidance; Rapidly evaluate customer and transaction characteristics using sophisticated rule filters; Aggressively leverage these insights in determining product eligibility, retrieving the most appropriate rates, pricing formulae & algorithms
• Launch new product-plans, pricing-plans in days; Reduce translation gaps & errors between business and system-implementation (IT) teams;
• Update rate & fee plans, rate & fee agreements in minutes; enable business users to load these plans and agreements from Microsoft XL and XML files
• Implement changes in product-plans, pricing-plans in hours; Respond faster to changes in the business environment; Empower business analysts to implement complex change requests (pricing formulae and algorithms, business rules etc) without having to involve any programming staff
• Reuse product-plans, rate & fee plans, rate & fee agreements, pricing-plans enterprise-wide, across multiple touch-points, divisions, lines of business
• Leverage existing investments in enterprise-standard business rule engines like ILOG JRules, Fair Isaac Blaze
• Address new market opportunities faster by rapidly launching variants of product-plans, pricing-plans, rate & fee plans, rate & fee agreements, for different states, distribution channels etc
• Meet stringent transactional performance expectations
• Realize implementation ROI rapidly with implementation cycles of 3 months or less