e-Optimization Example (1/2)
Selecting and configuring home equity loans.
Determines the best home equity loan for a bank customer
Makes counter offers, not just yes or no
Current manual process takes 30 minutes to 3 hours for an acceptable solution; labor expense = delinquency expense
Constraint programming application requires 10 sec on a PC for the best solution
Internal operation on bank’s intranet; moving to consumer application on the Internet
The bank is considering using optimization for a wide range of financial decision applications