Build a Loan Application Demo with Retool and Decisimo

Published on: 2024-08-10 18:38:24

Need a way to automate underwriting for your credit policy? Building a loan application demo with Retool and Decisimo using the Consumer Lending Application Form Template is a practical place to start.

This guide walks through the steps to build a loan application demo that uses decision logic to make lending decisions from loan application data.

Using the Retool Consumer Lending Application Form Template and the Decisimo platform, you can build and deploy an application that automates your credit policy underwriting.

Decisimo decision engine

Try our decision engine.

You can check out the example here.

1.

Building the Consumer Lending Application Form in Retool

  • Log in to Retool and create a new app
  • Import the Retool Consumer Lending Template JSON file (download here) to create the Consumer Lending Application Form
  • Adjust the form as needed, adding any extra fields or functionality you need
Loan Application Form app build with Retool and connected to decision engine
  • When the form is ready, save and publish it
2.

Building the Decision Logic in Decisimo

  • Log in to Decisimo and create an endpoint to receive loan application data from Retool
  • Note the endpoint URL and API key
  • Use the Retool Consumer Lending Template to create a ruleset in Decisimo
  • Create a decision table using the Retool Consumer Lending Decision Template to make lending decisions from the loan application data
  • Build a decision flow in Decisimo with two steps: the ruleset and the decision table
  • Connect the two steps in the flow in this order: ruleset first, then the decision table
  • Double-click the ruleset step and select the ruleset you created in the previous step
  • Repeat the same process for the decision table step
  • When setup is complete, release the decision flow
3.

Deploying to an Endpoint

  • Once the decision flow is released, deploy it to the endpoint you created in the first step
4.

Updating the Retool Query Definition

  • Return to Retool and open the app you created in the first step
  • Go to the query that sends the loan application data to Decisimo
  • Update the query definition with the endpoint URL and API key you noted earlier
5.

Trying it all Together

  • Run the Retool app and test the loan application flow
  • Verify that the loan application data is sent to Decisimo and that decisions are returned correctly

That’s it. You have built a loan application demo with Retool and Decisimo, using the Retool Consumer Lending Template to create the Consumer Lending Application Form.

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