Applying decision reasons to product applications

If your institution is using Policy versioning, you can choose from a list of pre-configured reasons when approving or rejecting a product application. Once someone at your facility has created a standardized list of reasons to apply to product applications, they will be available to other users to choose and apply to product application outcomes. Having these standardized lists of reasons, allows your institution to view reports and export this data in order to have more accurate, actionable information on the trends and patterns of your product application decisions.

Standardized decision reasons can be applied to individual or company product applications and you can apply multiple reasons to a product application.

Applying a decision reason to a product application

Once all the tasks have been completed for a product application, you need to approve or reject it. When you are reviewing a product application, you may need to manually accept or reject it. If your institution is using policy versioning, you can apply a pre-determined reason to your product application's outcome. If you are not yet using policy versioning, you can use a different method to approve, reject, or cancel a product application.

If you reject or cancel a company's product application, you should reject/cancel the product applications for the related associates too. If you don't, the associates' profiles will have ongoing monitoring.

To apply a decision reason to a product application:

Go to the profile.
Select Application overview or an individual product application.
Click on either the Approve button or the Reject button, based on your assessment of the product application.
Note
If it’s not possible to select Approve, one or more of the product application’s tasks are incomplete or failed. All tasks must be passed before the product application can be approved.
When you click on the button, a drop-down menu appears.
From the menu, choose one or more reasons for your decision. Optionally, add a comment to explain or support your decision.
Click on the Approve application or Reject application button.
If you're rejecting a product application, at least one reason needs to be given as the reason for your rejection.
The outcome of the decision reason will appear in your audit history.
If it’s an approved product application, click Cancel.

Applying a decision reason to a product application from the API

To get the full list of decision reasons that are available to you:

Get all the information about a specific product application from the API.
From the response, find the decision reasons attribute inside the product attribute. The decision reasons attribute will contain a list of decision reasons.

Make a POST request to following endpoint:

https://api.passfort.com/4.0/profiles/{profile_id}/applications/{application_id} POST

Use the following body example to approve a product application with a standardized decision reason. This updates the product application's outcome with the decision reasons in the body, ["reason_1", "reason_2"].
```
{
"status": "APPROVED",
"decision_reasons": ["reason_1", "reason_2"]
}
```

To revert a decision

Once you have approved or rejected a product application, you may need to revert your decision. Note that if the product application has been automatically approved, the product application can’t be reverted, it can only be canceled.

To revert your decision:

Go to the profile.
Select the Applications overview section.
Find the product application and click the active button. If the product application has been approved, the active button label is Approved.
Click the Revert decision button from the dialog box that appears.

The product application is returned to its previous state. If the product application was new, it resumes the onboarding process. If the product application was approved, it resumes the monitoring process.

Warning

If you revert a decision to reject or cancel a product application, ongoing monitoring for the PEPs and sanctions screening, Sanctions and adverse media screening, or Merchant fraud checks will only restart automatically if you have them configured as automatic checks. To restart ongoing monitoring manually, run the checks manually.

To revert a decision reason from the API

https://api.passfort.com/4.0/profiles/{profile_id}/applications/{application_id}/revert_decision

The product application will be reset to its previous state without a comment or decision reason.

Reporting on decision reasons

You can export details about your decision reasoning from the Reporting tab. Make sure that you have the Export data permission in order to create these reports.

The following information about a product application's outcome is exported:

Application comment (at first decision): Free text comments that were added while approving or rejecting a product application at the time of the first decision.
Application comment (current): Free text comments that were added while most recently approving or rejecting the product application.
Application decision reasons (at first decision): This shows the first decision reason that was assigned to the product application.
Application decision reasons (current): This shows the most recent decision reason assigned to a product application.

Select data to export with your applications report dialog with export all decision reasons selected.

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Using Passfort