back Back

°neo by Five Degrees helps SMEs quickly enter new markets with rule engine

By Gloria Methri

May 03, 2023

  • Claims Automated Rules Engine
  • Core Banking Platform
  • Financial Services
Share

°neo, Five Degrees, Core Banking Platform, Fourthline, Digital Identity Solutions, Financial Services, KYC, AML, Financial Crime, Digital KYC, Fraud Management, Compliance, Amsterdam, USA°neo by Five Degrees, a Dutch cloud-native core banking provider has integrated a new business rule engine into its core-banking platform. This enhancement helps financial institutions and SME lenders quickly enter new markets.

The rule engine allows lenders to establish, execute, and manage their own rules quickly and efficiently. It does so via its low code configuration possibilities, translating to easy-to-create rules, and test case functionality, and ensures rules are consistent.

This includes deployable rule libraries, where lenders can keep track of rule usage, safeguarding system efficiency, and above all, keeping the rule library maintainable.

Fridrik Reynisson, Chief Architect °neo by Five Degrees said, “We are excited to integrate a business rule engine into our core-banking platform that allows easy rule customization. By including a business rule engine, a launching time of several weeks becomes days. This allows lenders to quickly tap into new, profitable markets and adhere to fast-changing consumer demands.”

Using the rule engine, lenders can quickly configure fee structures by setting up different fees on different loans, allowing them to work with multiple brokers in minutes. This gives lenders a tremendous amount of flexibility.

°neo is a secure, robust, and open cloud-native modular platform that provides lending and transactional accounts as core product engines, as well as client data management.  The fully configurable system offers a complete view of all entities, events, products, and relationships.

As °neo has a banking-grade data structure that is specifically designed for modern banking, institutions can move, access, and manage data to suit their requirements. This gives banks, and other lenders control over and insights into their organizations. Both are key to meeting regulatory requirements and driving growth in a competitive digital landscape.

Previous Article

May 03, 2023

Wolters Kluwer Q1 Trading Update: Revenues up 6% organically

Read More
Next Article

May 03, 2023

Fintel Connect, Cheese expand credit access to underserved Americans

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

Claims Automated Rules Engine

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

LTIMindtree extends multi-million-dollar contract with Absa Bank

Read More

Today

FinTech Focus: Catch latest developments of the week

Read More

Today

FIS launches new Trade Matching Solution in the UK

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024