Decision Engine Example: Identity Verification or KYC (Know Your Customer)

A key feature of a decision engine lies in its capacity to integrate with various identity verification datasets. These datasets encompass information from credit bureaus, as well as data enabling the verification of a person's pseudo identity, such as phone number, email address, and IP address.

Let's delve into an example where the decision engine is connected to TransUnion, a credit bureau. This decision engine visually displays a simple rule programmed to leverage data assets from TransUnion. Specifically, we are using TransUnion's TruValidate product for identity verification

The construction of the decision tree example initiates by selecting variables from the Variable Library. These variables are populated from data providers integrated into the decision engine. Operators like "less than" can be employed to create forks in the decision tree.

Once the decision tree is developed, it can be saved and tested using the "Test Tree" button. To implement this rule set, link the tree to an application page within the Page Builder tool. Additionally, these decision trees can trigger emails, additional workflows, and SMS messages.

Remember, a robust decision engine should have the ability to integrate any third party data assets as well as the ability to create custom variables. The decision engine should have a visual component to it which will help the author to complete their work. The decision engine should also have the ability to link decision trees together and trigger actions such as emailing the end-user and request additional documents or send a congratulations sms text message for completing their online form. 

Happy building! Team LendAPI