Application document decision tree
Once it has been identified which documents are to be used by borrowers in the “document to be supplied by borrowers” it is possible to define a decision tree that CAN be used in order to request documents from borrows based on the information they have supplied. This allows documents that are presented to a customer who completes an application to be more refined so that they are specific to the borrower and not generic.
A document decision tree is made up of questions that allows a finance company to select which documents appear on the portal based on decisions using customer information.
The results of the document decision tree AND any additional documents requested during credit assessment, will determine which documents
- Get presented on the upload documents page on the portal.
- Get emailed to the customer (Finance companies can create a workflow email that will be sent to the customer when the status of the application changes to assess, as an example. The email template will contain a document variable that will allow the list of documents to be displayed
- Get emailed to the customer when the business user requests documents to be supplied.
Keep in mind that finance companies are able to add additional requested documents during the evaluation of the application that are not included in the document decision tree.
Finance companies will be able to indicate which documents are presented to a borrower, based on rules setup in the application document decision tree. These decision trees will be made up of criteria, paths and questions in the same way the evaluation decision tree is created with the exception that the document will be uploaded against each criteria. Example if a borrower is employed you might ask for a letter of employment but if the borrower is self employed you may ask for a profit and loss statement.
The structure of the document decision tree consists of 3 levels allowing a finance company to set both AND and OR conditions, namely:
- Criteria - One tree consists of one or many criteria. Each criteria will result in presenting/requesting a different document
- Paths - One criteria consists of one or many paths.
- Questions - One path consists of one or many questions.
A path will pass if ALL the questions under the path pass as questions use an AND condition when evaluated.
A criterion will pass if ANY ONE of the paths pass as paths use an OR condition when evaluated. If the criterion passes the document will be presented/requested.
The document template to be generated is loaded against the criteria and will only be produced if the criteria passes.
1) From within a criteria, select the actions menu and under document select "add document"
2) Select the document template to present when the criteria passes.
A list of all decision tree variables that can be used to create questions when setting up a document decision tree can be found here.
Related Articles
List of all decision tree variables
The list of decision tree variables available in Clearmatch that can be used in decision trees can be found hereListing and application business rule
Business rules exist at originator group product level, allowing finance companies to set rules and settings that are specific to each combination of originator group and product. The listing and applications business rule contains the the rules for ...Override an application status
The application's status is normally set via the results of a decision tree when the application is evaluated. However a finance company may have processes in place where the final approval, or other steps in the process, are completed manually and ...Document templates
Document templates are used as a way for customers to obtain or provide information about their structure, applications, finance agreements, investments .. etc. Once the document templates are defined by a finance company they can be configured to be ...Create a document config
Document configurations are used to allow a finance company to indicate which document templates are available and can be used from within each of the different parts of the platform. Example: not all document templates relate to personal customers. ...