BizRules is a special software tool for creating, managing rules and modeling calculations.
The tool allows you to define calculation rules and models in the form of predetermined rules and algorithms, which can then be used for automatic decision-making or calculation in various situations.
The use of business rules and calculation models is very broad and can be found in many different areas, including the financial world. For example, calculation rules and models can be used to automatically decide whether to approve or reject a loan application or to calculate the return on investments. They can also be used to automatically generate financial reports or to calculate taxes and fees. In general, business rules and calculation models can help financial institutions to streamline and speed up their processes, thereby saving time and money.
It goes without saying that integration into other systems is also possible using the API (Application Programming Interface). This interface allows other systems to communicate with the tool for creating and managing calculation rules and models and call its functions or access the data it stores. This makes it possible, for example, to automate work with calculation rules and models without having to manually enter data or run calculation processes. API integration also makes it possible to link calculation rules and models with other systems in the organization and use their results in multiple areas or processes.
This tool is also used, for example, in the nsure project. Thanks to BizRules, we were able to create and efficiently manage the calculations of installments and terms of mortgages and the calculation of the creditworthiness of applicants.
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