EDM Group Automates Mortgage Property Risk with Progress
Progress Corticon technology enables instant risk evaluation and loan decisions in seconds as opposed to days
"EDM Group has enabled lenders to stay competitive by embracing the
latest technologies to speed up their decision-making processes. Today,
PRISM empowers lenders to carry out a decision in principle in 30
seconds, available 24x7 across all sales channels. This significantly
reduces the number of properties needing manual valuation, saving
thousands of pounds a day and taking potentially a week out of the
mortgage application process," said
A key feature of PRISM is its ability to provide exhaustive information around property risk decisions and an associated audit trail. The embedded functionality of Progress Corticon business rules engine enables lenders to formulate business lending rules into an automated process through access to public third-party data sources, including automated valuation and environmental risk data. As a result, lenders can assess a property risk within seconds, without the need for a physical visit to the property in many cases.
EDM Group's customer, Nationwide Building Society, the UK's second largest mortgage lender, is the first organization to have deployed PRISM to enhance its performance and processes.
Easy to use, powerful and accurate, Progress Corticon business rules engine complements existing business applications by automating sophisticated decision-making processes. Its intuitive interface and spreadsheet-style modeling tools empower business users to create, improve, collaborate on, and maintain decision logic without the need for programming skills. The solution supports every part of the modeling process, from initial capture of business requirements, to testing the decision against organizational data. With minimized integration effort and custom coding, Progress Corticon business rules engine enables business and IT users to execute decisions faster and reliably while being more productive and efficient.
"EDM Group's approach clearly demonstrates the value that Progress
brings to solutions with complex decision-making at their core. With the
embedded capabilities of Progress Corticon business rules engine, EDM
can build, manage and change the rules governing the complex
decision-making at the heart of the platform with speed and ease. They
have a powerful and agile tool by their side to help them stand out
among the competition and deliver excellent customer service," said
For more information about Progress Corticon business rules engine, please visit https://www.progress.com/corticon.
View additional customer successes at https://www.progress.com/customers.
Progress (NASDAQ: PRGS) is a global leader in application development, empowering enterprises to build mission-critical business applications to succeed in an evolving business environment. With offerings spanning web, mobile and data for on-premise and cloud environments, Progress powers businesses worldwide, promoting success one application at a time. Learn about Progress at www.progress.com or 1-781-280-4000.
Progress and Corticon are trademarks or registered trademarks of Progress Software Corporation and/or one of its subsidiaries or affiliates in the US and other countries. Any other trademarks contained herein are the property of their respective owners.
News Provided by Acquire Media