The application status and flag
The application status and flag help you track an application through its lifecycle.
The status indicates what phase the application has reached in the onboarding and monitoring process.
These are the possible statuses:
- Applied: Applications get this status as soon as onboarding begins, and they keep it until the profile is either approved to use the product or the application is rejected. During this time, the profile is undergoing due diligence. A series of due diligence tasks are created (e.g. to verify the profile's identity or bank account) which will need to be passed for the application to be approved.
- Rejected: The application is rejected when the profile is not approved to use the product. This is the end of the application lifecycle in most cases, but it is possible to manually revert the decision.
- In review: Applications are in review if, at any time, the profile no longer meets the requirements of a due diligence task or if a new task is added to the application. Applications that are in review need to have their incomplete tasks passed before they can be approved again and return to the Approved stage.
- Approved: These applications are approved and the profile should be granted access to your product. During this stage, the application is undergoing ongoing monitoring. You can also select applications with one or more tasks that will expire within 30 days. To view applications that do not have any tasks expiring within 30 days, select No action required.
- Cancelled: Applications that are in review become cancelled when the profile doesn't pass the incomplete tasks. This means the profile should no longer have access to your product.
The flag indicates what's currently happening to the application or what needs to be done for the application to progress to the next status.
These are the possible flags:
- Automating: The smart policy is being applied. New tasks or task versions are being created for the application. Any checks configured to run automatically are being run. Although manual action can be taken at this time, no manual action is required right now.
- Calculating risk: The application’s total risk score is being calculated by checking the profile’s details against the risk factor rules in the product’s risk model. No manual action is required at this time.
- Requires risk score: Profile data is needed to calculate the score for a required risk factor. For the application to progress, the missing profile data must be added to the profile. Note that if you're using the new smart policies, this state only occurs if the application reaches a smart policy branch that uses the risk score or risk level property and the risk model could not calculate a risk score or level for the application.
- Requires data: The smart policy doesn't have the data required to choose a branch in the policy. For example, if the branch rule is "Is the country of address one of 'United Kingdom' or 'Canada'?", the application will have this state if the profile doesn't have a country of address. Note that this state is only used if you're using the new smart policies.
- Waiting for customer: A request has been sent to the customer to provide more information or provide a document to run a check. The customer has not yet completed the request.
- Waiting for checks: A manually run check is being performed. Although other manual action can be taken at this time, no action is required right now. Note that if the smart policy is running checks automatically, the application is Automating instead.
- Waiting on escalations: One or more escalation teams need to approve the escalation before the application can be approved manually. Note that applications with escalations cannot be approved automatically by the smart policy.
- Needs manual completion: All automatic checks have been run by the smart policy, but one or more tasks are incomplete or failed. For the application to progress, the incomplete tasks must be completed manually or the application must be rejected manually.
- Ready for decision: All tasks are passed and the application is ready to be approved. For the application to progress, it must be approved manually.