Financial Expert Systems Demos

 

This page features some VisiRule financial and tax expert systems demos. Some are based on an existing chart and some are based on Excel spreadsheets which have been converted into VisiRule. All the demos are drawn using VisiRule Author, which is a dedicated diagramming tool for constructing decision tree decision graphs..

In addition to being able to evaluate complex logical expressions, VisiRule includes a powerful mathematical expression evaluator for computing formulae and functions.

 

Financial Knowledge

Financial knowledge is well suited to VisiRule as financial experts and financial advisors prefer not to have to reply on external programmers, which can introduce misinterpretation and loss of control. VisiRule enables knowledge experts to build robo-advisors with complex logic and advanced computations. Visual models offer a very effective way of representing and communicating how financial knowledge, and any associated compliance process, is to be interpreted and how it can be automated.

The imminent dis-intermediation of financial services means the role of the professional financial practitioner will change. The challenge is for institutions and organizations to re-invent and re-position themselves in light of this huge disruption and take advantage of the gains in modern technology. FinTech can enable financial knowledge to be commoditized and offered 24/7 on all devices to win new business and secure existing business.

 

Generating Financial Expert Systems Demos

Expert Systems applications have been around for many years and provides a solid rules-based approach to knowledge capture and execution. VisiRule has been used to deliver Expert Systems in Law, Product Support Expert Systems and many others. Financial expert systems provide a cost-effective and safe way of making specialist expert knowledge available to a wide audience. VisiRule allows authors to build financial expert systems directly from a visual model.

 

VisiRule offers a cost-effective and accountable way to make informed financial knowledge available, 24x7, to a world-wide audience, on convenient devices, and in an instant.

ChatBot Delivery

You can compile your financial decision charts into an intelligent chatbot and execute them using a language based interface.

Deliver as JavaScript

You can compile your financial decision charts into HTML/JavaScript and execute them client side using the VisiRule JavaScript Financial Delivery Engine.

Rules of Intestacy

If you are a resident of England and Wales and die without having made a legally valid Will or a Will that has partially failed in some way, your estate becomes subject to the Rules of Intestacy.
The Rules of Intestacy determine how your estate is to be distributed after the payment of all your debts and liabilities, testamentary expenses and funeral costs. This demo executes a diagram that shows how the estate would be distributed with some basic calculations.
Intestacy Flow Chart from the Will Company

UK trust investments under FATCA

With the introduction of the US Foreign Account Tax Compliance Act, HM Revenue & Customs has explained how it will treat trusts that own assets managed by a financial institution.

Trusts will be classed as FATCA-regulated financial institutions (FIs) in their own right if a trustee is an FI, or if the financial assets are directly held by the trust and the holdings of the trust are managed by an FI.


FATCA: UK trusts under the UK / USA Intergovernmental Agreement (IGA)*

Insurance Quotation

The insurance demo illustrates decision automation in the early stage of the sales and underwriting process. In practice these processes are intertwined, with tasks shared between the agent/broker and company underwriter.

This example integrates the use of forward-chaining production rules written using Flex KSL as part of the chart.

Insurance Fraud

It is estimated that at a minimum 10% of all property and casualty claims contain some element of fraud. The first step in identifying insurance fraud is to recognize some of the common indicators or "red flags".

These red flags are facts or circumstances that will require further investigation into the nature of the claim. It is important to note that most claims are legitimate and the presence of one or more of these red flags is not controlling.

Loan Application with Letter Generation

A simple loan application demo with a few questions and some convergence within the decision process.

Includes support for uncertainty via 'Not Sure' answers.

Features the dynamic creation of acceptance and rejection letters with the reasons for rejection and any checks that need to be undertaken. The generated letter uses the given answers to select suitable text from a small database.

Batch Loan Application

A simple loan application demo which can be run in interactive or batch mode using some predefined Flex frames and instances (which in practice would be extracted from a database).

 

This uses meta-charts to select and run 'object' charts.

The interactive version includes some question piping to reflect the name of the applicant.

Guidance on the scope of MiFID and CRD IV

MiFID replaces the Markets in Financial Instruments Directive 2004/39/EC (MiFID 1), which in turn replaced the Investment Services Directive (ISD).

The scope aspects of MiFID are primarily addressed through the Regulated Activities Order (‘RAO’) and n PERG 2 focuses on the scope of regulated activities under the RAO
https://www.handbook.fca.org.uk/

To RENT or to BUY

Should you buy or rent a home? This flowchart may be able to help you decide. Like with most money questions, there's no one universal answer. Instead, it depends on your own situation, from the state of your savings to whether you're willing to coordinate getting a leaky faucet fixed.

Original Chart