How IIFL Replaced Hard-Coded Rules with FinBox Sentinel to Move at the Speed of Risk
IIFL's digital lending arm swapped a slow, IT-dependent rules engine for Sentinel's no-code decisioning system, turning weeks-long policy changes into a task risk teams complete themselves in minutes.
How IIFL Replaced Hard-Coded Rules with FinBox Sentinel to Move at the Speed of Risk
IIFL's digital lending arm swapped a slow, IT-dependent rules engine for Sentinel's no-code decisioning system, turning weeks-long policy changes into a task risk teams complete themselves in minutes.
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IIFL's turnaround time for deploying policy changes dropped from roughly four weeks to a few minutes after moving to Sentinel.
The challenge
A multi-channel lender outgrowing its rules engine
Complex, multi-channel origination
IIFL runs a multi-channel digital lending approach spanning proprietary apps, 40+ point-of-sale partners, and multiple DSAs, adding complexity to risk decisioning across channels.
IT-dependent, hard-coded rules
IIFL previously relied on a hard-coded rules engine, which created heavy IT dependency and made rule changes slow and costly.
Blind spots in performance visibility
Dashboard reports took up to 24 hours to generate, limiting the risk team's ability to track rule, policy, and partner-level performance in real time.
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Outcomes
Measurable gains after adopting Sentinel
45% drop in fraud
Fraud incidence reduced by 45% following the shift to Sentinel's risk intelligence and decisioning controls.
2X improvement in approvals
Approvals improved by 2X while application review time decreased by 60%.
75% lower delinquency
Delinquency rates reduced by 75%, alongside a 30% reduction in drop-offs during the application journey.
20% lower CAC
Customer acquisition cost fell by 20%, with 60% of IIFL loans now digitally originated as the lender works toward $1bn in originations.
How it was built
How Sentinel changed the way IIFL manages risk
Sentinel replaced code and spreadsheets with a centralised, no-code decision management system built for the pace and scale of digital lending.
No-code Policy StudioA graphical Policy Studio let risk teams model rules and policies using natural language, expressions, and matrices—removing dependency on developers.
Excel-like familiaritySentinel incorporates Excel-like functions as template tags, easing the transition for risk teams already comfortable with spreadsheets.
Role-based access controlRBAC enabled granular permissioning, giving IIFL accountability and efficiency across its risk hierarchy.
Built-in testing and alertsTesting and validation functions accompany each rule to prevent errors, while alerts act as an early-warning system for abnormal rejections or approvals.
Canary deploymentIIFL could test new policies with new data-source predictors in live production without full-scale risk, even without historical data.
On-demand dashboardsInstant dashboards replaced a previous 24-hour wait, giving rule-, policy-, and partner-level performance tracking and funnel analytics.
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In their own words
In their words
For lenders to have a fighting chance, the ability to make timely and well-informed decisions is critical. And this ability will remain elusive as long as code, spreadsheets, and data blind spots are involved.
Given the size and complexity of our digital lending operations, the transition from a hard-coded rules engine to a centralised system of rules management was inevitable. However, the real challenge lay in selecting the right decision management software from a market that is rapidly crowding. Yet, our choice was easy because Sentinel isn't another run-of-the-mill BPM software, it's a comprehensive lending system in itself.
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