Final answer:
The statement is True. The Rules Engine operates 'behind the scenes' to automate the loan approval process by evaluating applicants against pre-defined criteria in the Loan Auto Decision Feature.
Step-by-step explanation:
True or False: The Rules Engine is used "behind the scenes" in the Loan Auto Decision Feature. This statement is True. The Rules Engine is a critical component in the automated decision-making process for loan approvals. It utilizes pre-defined criteria set by lending institutions to process applications quickly and efficiently.
By doing so, it reduces the need for manual loan processing, leading to quicker decision times and increased consistency in the decision-making process. Essentially, the Rules Engine evaluates the applicant's information against the set criteria, such as credit score and income level, making an automatic determination on loan approvals or rejections.