BBVA

The Senior Vice President of Product Design reached out to LG Software with a very complex problem that other consulting companies quickly ran away from.

The bank was using separate software solutions for every type of loan that was being generated from branch offices (cars, boats, houses, personal). Every loan system had its own independent interfaces into determining consumer credit scores and calculating a customer’s interest rate. The pricing logic was over 3,000 lines of complicated code that required 3 months to modify and test whenever a new loan product needed to go to market. As you can imagine, the software vendors loved being inserted into the day-to-day operations - massive IT expenses!! Waiting 3 months to go to market did not make the bank very competitive.

LG Software created “HERMES”. A single loan decisioning system and pricing database system for the Risk Management Team. A new pricing database system replaced 3,000 lines of code with a simple application that never requires programming changes. A few days of testing score-card modifications is all that is needed. A new web service has a direct interface with Experian, Trans Union, and Equifax. The results are fed thru a new pricing matrix, providing a custom calculated interest rate for every consumer loan.

No longer was the VP having to pay consulting companies year-around for making software changes!