Zoot Receives Industry Patent for Test File Modification Tool

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Patented technology reduces risk in credit policy testing. Zoot’s test file modification tool remedies the technological challenges for financial institutions of creating and editing files to accurately and completely test each aspect of their credit decisioning logic.

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Using this tool, software developers no longer need to spend countless hours creating and hand-editing test data files or rely on a volume test that might miss certain conditions.

Zoot, a leading provider of advanced instant credit decisioning and loan origination solutions, announced today that the U.S. Patent and Trademark Office granted the issuance of U.S. Patent Number 8,239,757 for the company’s system and method for creating and modifying test data files used when testing the accuracy of a financial institution’s credit decisioning logic.

“Prior to this invention, the only option financial institutions had for testing their decisioning logic was to manually create a sufficient test bed of test data files, run them through their system, manually review each automated decision and compare it with hand-calculated results to ensure that it was making the correct decision,” said Tom Johnson, vice president of business development for Zoot Enterprises and one of the named co-inventors on the patent. “Our solution provides an efficient, accurate and automated process for improving banks’ testing procedures.”

Zoot’s test file modification tool remedies the technological challenges for financial institutions of creating and editing files to accurately and completely test each aspect of their credit decisioning logic. Additionally, the tool automates the process through the use of an intuitive and easy-to-use graphical user interface (GUI) that allows users to fully test their automated logic. The solution both reduces risk and lowers costs.

“Some of the conditions of a bank’s decisioning logic can be extremely rare, occurring less than once in 10,000 credit files. The consequence of that piece of logic being wrong in a production environment could mean the loss of hundreds of thousands of dollars each time it is encountered, depending on the size of loans being approved by the automated system,” said Johnson. “Using this tool, software developers no longer need to spend countless hours creating and hand-editing test data files or rely on a volume test that might miss certain conditions.”

Tom Johnson, Pete Quinlan and Kevin Fletcher are inventors of the patent issued to Zoot Enterprises on August 7, 2012. For more information about how this invention can support financial institutions’ testing procedures visit Zoot’s test file modification tool webpage.

About Zoot
Bozeman, Mont.-based Zoot Enterprises, Inc. provides comprehensive credit decisioning, loan origination and credit risk management solutions to enable clients’ unique business objectives, leading to long-term relationships with top U.S. and international financial institutions. Zoot’s rapid, high-volume processing environment has the capacity to process billions of transactions per year. Visit http://www.zootweb.com or call 406.556.7555 for more information. Zoot thought leaders are now featured on zootweb.com/blog.

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