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Working with Decision Information

Overview

After you submit a credit request, eCredit generates a decision. The Decision screen and the links for all the information generated by the automated decision process appear. You can wait for the Decision screen to appear, or you can retrieve the credit request at any time to view the decision information.

From the Decision screen you can:

Review the decision information
Change decision information
Create a work queue task for this credit request
View the history of changes made to the decision

Click here to view a screen shot of what you can do from the Decision screen.

Decision information

The automated decision process can generate the following decision information. The specific information that is generated depends on your customized automated decision process created by Cortera's Professional Services Organization.

Decision, and a state The decision state describes where the credit request is in the credit approval process. The decision states vary depending on whether the decision is accepted, declined, or none. Examples of decision states when the decision is None are Refer, or Conditional Approval. Examples of decision states when the decision is approved are Accepted, Booked, and Docs out. and status The Decision Status describes why the credit request is in the Decision State. The Decision Status can clarify the next step necessary to complete the credit request approval process. for the decision.
Reasons for the decision
The amount for all credit request types
The effective and expiration dates for an approved credit line
Scoring events When a credit analyst or business process initiates the processing of a scorecard, a scoring event is created. Each event is assigned a system-generated Event ID, that is used to identify the event when viewing scoring results and scorecard definition details.
InfoLink reports A report that reformulates data from an external source, such as data from a credit bureau packet or a legacy system. The InfoLink report presents the data as a display label with a corresponding value. The automated decision process for credit requests can be designed to generate an InfoLink report.
List of similars For certain bureau reports, the business process can generate a list of businesses with similar names. You use this list to select the exact business entity for which you are requesting information. The automated decision process then uses your selection to process the credit request.
Credit bureau reports Each time a lender or the automated decision process requests information from a credit bureau, the request is tracked and labeled as a bureau event. The event is assigned a number to identify it.

Approved, denied or refer

Credit requests can be auto-approved or auto-denied according to your credit policy rules. If there is no decision generated, the decision state is Refer. This means that the credit request did not meet the criteria for being approved or declined These criteria are defined in the business process that automates the decision for your implementation. Credit requests that are referred require follow up activity by a credit analyst. The automated decision process can be designed so that referred credit requests automatically appear in the work queue for a credit analyst.

Decision state and status

When eCredit processes a credit request, the Decision screen displays the decision, and the decision state and status This decision state and status help you track where the credit request is in the decision process. The decision state describes where the credit request is in the decision process, and the decision status describes why it is there. Your automated decision process can generate the Decision, Decision State, and the Decision Status, or you can manually enter it.

Examples of decision state and status

For example, if you submit a credit request and the bureau pull comes back with a list of similars, the decision state would be Refer, and the decision status could be Multiple Hits. Having this information, you would select the List of Similars tab, select your customer entity from the list of similars, and reprocess the credit request.

In another scenario, the Decision state could be Conditional Approval. For this state, the status would describe why the approval is conditional, such as financials needed, or collateral needed. Once again, the status informs you of the next step needed to complete the request.

Which decision states and statuses are available

Your business administrator enters the decision states and statuses needed by your work flow using the List and Items feature of the Admin module. Decision, Decision State, and Decision Status are related lists. When you select a decision from the decision list, only the states that are appropriate to that decision appear in the Decision State list. When you select a state from the Decision State list, only the statuses appropriate to that state appear in the Decision Status list.

Updating decision information

If you have the appropriate access privileges, and your business administrator has not set up eCredit for multilevel approval for credit lines, you can update the credit request decision by entering or changing the:

Decision, and the state and status for the decision
Approved amount for all credit request types
Reasons for the decision, or comments to further describe the decision process
Effective and expiration dates for an approved credit line.

Note: If your business administrator has set up eCredit for concurrence approval Concurrence approvals are additional approvals entered after the first user approves the credit line. Your business administrator specifies whether credit lines require a single approval or concurrence approvals, and the number of additional approvals required for specific transaction amounts., you change credit line information using the Credit Line feature of the Customer Analysis module, not the Decision screen. Requests for other types of credit, such as term loans or leases, are always updated from the Automated Decisions module.

Decision history

From the Decision screen, you can view the decision history. The history shows you the changes made to the decision throughout the credit approval process. If a decision hasn't had any changes, the Decision History button is not enabled.