Product Updates

DigiFi New Version: Decision Strategies

Bradley Vanderstarren

Feb 21, 2023 • 2 min read

With this blog post we’re finishing our series of updates detailing our platform's new features and the changes that will be released with the upcoming new version. In this article we’ll focus on Decision Strategies. Our goal in updating this part of the platform was to better integrate decisioning capabilities into the overall loan origination system, as well as to make decisioning features more powerful, with greater flexibility in creating rules and faster processing.

To better integrate the decisioning capabilities of the platform, we’ve moved the processing of decisions from the separate “Decision Engine” section to the “Decisions” tab in the core “Lending System” section of our platform. This allows users to more easily manage decisions in the same place they manage applications, integrations and other day-to-day activities.

Decisioning setup has also been moved - from the separate "Decision Engine" section to the "Lending Setup" section, which contains all other lending-related configurations. Importantly, as we have now integrated decisioning into the core lending system, the separate deployment process for decision engine strategies has been removed.

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All decision strategy changes will now be deployed from the new “Deployment” section of “Lending Setup”. You will no longer create and activate individual versions of decision strategies. Active and testing versions currently in the platform will be converted to the new structure automatically, but historical versions will no longer be created and any inactive versions will be removed. Going forward the improved change log will allow you to see all changes to decision strategies. This update aligns the decisioning configuration with how other configuration changes are made in the platform.

Decision Strategies Changes in FAQ

In order to make decisioning within the platform faster and more powerful, we have also replaced the former Rule-Builder with the DigiFi Formula Language. This means that any condition or calculation will now be created using Excel-like formulas. These formulas provide greater flexibility to create more powerful rules, such as those that combine AND and OR conditions.

The modules available for building decision processes have also been updated. When adding a new module to the strategy, you will be prompted to choose one of five types: "Rules", "Formulas", "Scorecard", "Integration", or "Decision":

Rules: runs a set of conditions and assign outputs to variables depending on if the conditions pass or fail;
Scorecard: runs a set of conditions to generate a score by adding weights of conditions that pass to the base score;
Formulas: runs formulas to execute calculations that assign results to variables;
Integration: runs an integration with a data sources or a predictive models;
Decision: runs a set of conditions that must pass for the decision to continue. If a condition fails, the decision will fail and the decline reason will be assigned.

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“Single Outputs” module type was removed, though the functionality can be replicated with the new “Formulas” module type.

These are the major changes we wanted to highlight for you about decisioning in the new version of the DigiFi platform. If you have any questions, please see our FAQ for more information, and don’t hesitate to contact support@digifi.io if you need further assistance.

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