This release includes the following updates:
Q2 BAO has added a new option in the back office, KYB/KYC Failure Referral Page, that allows you to change the applicant workflow when KYC or KYB fails. When selected, if either the KYB or KYC fail, the application status becomes Referred and the applicant is sent to the referral page.
As part of this functionality, policy conditions for KYB and KYC are now processed separately.
For KYC, BAO's Socure adapter includes a single rule based off the decision response from Socure. The LexisNexis KYB adapter includes the following standard rules that must match the applicant's responses to satisfy the KYB policy conditions.
If your FI reviews an application and changes data based off customer input, then applications that are Referred can be manually re-submitted through your KYB or KYC vendors using the BAO Back Office menu option. Referred applicants are not allowed to submit any further information or documents in the application process using the BAO front end.
If the KYB/KYC Failure Referral Page option is not selected, then applications can progress through two possible scenarios:
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KYB and KYC both pass, in which case the application status becomes Entered and the applicant sent to the Document Upload page.
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KYB or KYC fail, in which case the application status becomes Referred and the applicant is sent to the Document Upload page.
(CBLT-473)