Growth & Lending

Automated Decisions

End-to-end loan decisioning system fast-tracks approval or recommendations on loans with detailed rationale.

Our Automated Decision service is an end-to-end loan decisioning system for Personal, Agricultural and SME loan applications that can fast-track approval recommendations on loans with detailed rationale.

We work with third party decisioning engines and integrate these with Wellington IT’s core system, Scion. This facilitates a seamless lending experience for both Credit Unions and their members, providing a quick loan decision recommendation on member applications.

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The value of Automated Decisions

Data consistency & risk management

The tool flags any issues or risks, with the data provided by members. This feature is valuable for maintaining compliance standards and helps mitigate potential risks associated with inaccurate or unreliable data.

Compliance & auditing

The tool meets the compliance requirements of your Credit Union which is crucial for ensuring adherence to regulations and standards.

Time savings

Meaning your staff don't need to scrutinise every document your member provides, nor do they need to review every loan based on their credit policy.

Simplicity & user-friendliness

Your staff will appreciate how easy it is to approve loans and access the information provided, giving them precious time back to do the important stuff; serve your members!

Total control

You can set the rules and parameters; if you'd prefer not to automate the decisions, the system can simply provide a recommended decision, that your staff manually accept or refer.

10 hours a week saved across loan applications

Your Credit Union can save the equivalent of 1.25 days per week with Automated Decisions.

The automation of the lending process in Scion through our third party partners makes it quicker and easier than ever to grant member loans (either automatically or manually). The quality of your loan book is boosted because there is less room for human error or oversights. Your loan decisions are based on real-time, accurate data.

When we’re underwriting loans, the best decisions can be a combination of both statistical and behavioural underwriting. Whilst our staff have vast experience with behavioural underwriting, the statistical underwriting needed improvement. The Visualyse product, integrated with Wellington IT, allows us to automate the decision on loans, therefore providing smarter lending and giving staff members time back to focus on borderline case loans and larger loans”

Former Manager

Ballincollig Credit Union

Ballincollig saving 10 hours per week with loans automation!

At Ballincollig Credit Union, lending was very much paper based and still relied mainly on staff input on the rationalisation on lending. Therefore, they needed a system that would reduce the need for excessive manual data entry and calculations, and which could also assist with the decision-making process.

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Ballincollig saving 10 hours per week with loans automation! Featured Image

Boost your loans with Automated Decisions and Open Banking

Automated Decisions coupled with Open Banking is revolutionary for your loan offerings. Your members can apply for a loan, be approved for the loan, and receive payout through their online banking, in a matter of hours!

Your staff benefit from a reduced administrative burden and the reassurance that they’ve processed a loan with little-to-no risk.

Learn more about Open Banking today and offer your members an experience like no other financial institution.

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