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April 3, 2023

about 1 year ago by Nadya Tuleyko

We released a wide range of customer feature requests as well as significant updates to the current platform to make it more powerful, faster, and easier to use.

Release Details

  • The updated platform will include a built-in testing mode, allowing you to make changes and test your ideas before using them.
  • Working with the Decision Engine will now be easier and more powerful with greater rule-building flexibility to cover all your decision logic.
  • We have re-arranged the platform to put all configuration-related sections together. The new version includes the following sections:
    • Lending System (Production)
    • Lending System (Testing)
    • Lending Setup
    • Borrower Portal Setup
    • Reporting and General Settings.
  • An all-new Dashboard will allow every team member to monitor their activity and better manage their time.

Improved Dashboard

The dashboard now lets you quickly see your activity and next steps. It is divided into 4 sub-sections:

  • “My Applications”
  • “My Tasks”
  • “My Activity”
  • “My Team”

Now you can check on the applications and tasks you are assigned to. You will be able to see the number of applications within different statuses and can immediately open any application to resume your work. The colorful bar lets you filter the applications by status.

Tasks are shown by their statuses and due dates which lets you keep an eye on what needs to be done next. Clicking on any task will redirect you to the task view on the application.

You will be able to see all your teammates and their recent activity. Clicking on a specific user will open their profile in a sidebar, which includes their contact details and recent loan processing activity.

Built-In Testing Mode

Here's the improved structure of the platform, which will have 6 main sections:

  • Lending System (Production)
  • Lending System (Testing)
  • Lending Setup
  • Borrower Portal Setup
  • Reporting
  • General Settings

In the "Lending System (Production)" section, you'll find your primary workspace for processing live loan applications.

The new "Lending System (Testing)" section allows you to see how your new configurations look and function before they go live. It is a sandbox environment where you can experiment with test data in an isolated space.

The "Lending Setup" section consolidates all lending-related settings in one place. It is where you can create your unique setup for processing applications. Decisioning, integrations, and variables pages were moved into this section.

The new "Deployment" section allows controlling to push configuration changes from the Testing to the Production environment. Here you can find all the changes that you're about to release as well as the details about previously deployed versions.

The "Borrower Portal Setup" section is where you'll find the DigiFi standard lending portal settings, similar to the existing version.

"Reporting" is now a separate section and you can choose who has access to view and interact with the reports.

All of the organization's other settings can be found in the "General Settings" section.

Improved Decision Strategies

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.

Decisioning setup has also been moved from the separate "Decision Engine" section to the "Lending Setup" section, which contains all other lending-related configurations.

📘

The former Rule-Builder was replaced 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. You can still use rule-builder for simple conditions creation.

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.

Migration Process

All of the lending configurations of your account were migrated automatically to the new platform version.

🚧

Here's an important note about the configurations of decision strategies migration:

  • Rules were converted to Formulas written with DigiFi Formula Language;

  • All Strategies in status “Active” were migrated to Lending System Production, all Strategies in status “Testing” were migrated to Lending System Testing;

  • All inactive strategies were removed.

Check DigiFi FAQ for more details.