February 24, 2023 (Q2 BAO 1.3.2)

This release includes the following updates:

Upcoming features

Adding support for account funding

In a future release, Q2 BAO will add the ability for applicants to fund their business accounts as the last step of the applicant workflow. New or existing applicants will be able to use a business or personal debit or credit card to fund the account, or they can choose to fund the account at a later time.

Minimum and maximum funding amounts can be set based on what products are included in the application or what payment type the applicant is using, and the text fields will validate against the configured minimum and maximum funding amounts. These product and payment type funding limits can be different for new and existing users.

Q2 BAO will use TabaPay as its first funding vendor connected to its applicant workflow. As a result, the FI will be able to collect the following information and pass it to TabaPay's PCI-compliant iFrame for processing: card number, card expiration date, and CVV. FIs will need to directly contract with TabaPay and provide credentials to the FI's Q2 BAO implementation team to enable this feature.

What's new

Updated Q2 BAO Back Office to allow FIs to override policy conditions when approving applications

Q2 BAO Back Office has been updated to allow you to override policy conditions while approving an application when policy conditions have not been satisfied. If you select to approve an application with unsatisfied policy conditions, you will get a pop-up asking you to verify the approval (or satisfy the policy conditions, if you choose to do so).

(CBLT-1014)

Added support for professional services provider questions

For FIs using the Enhanced Compliance Suite, Q2 BAO now includes a series of questions to determine whether the applicant is a Professional Services Provider, whether they are an intermediary business, what type of services are provided, and whether professionals will be using the business account(s).

(CBLT-1048)

Added support for debit card requests and overdraft protection

For applicable account types, Q2 BAO now includes a new Debit Cards & Overdraft section in the applicant workflow to request debit cards for specific representatives of the business and to opt into specific types of overdraft protection for the account. Additionally, fields have been added to the Q2 BAO Back Office to reflect whether a debit account was requested for a product and/or an applicant and whether an applicant opted into overdraft protection for a specific account.

(CBLT-882, CBLT-883)

Added button to add a new business party to an application

Within the Q2 BAO Back Office, the Product Details and Parties pages now include a button () that launches the Add Business Person window to request the first name, last name, email, mobile phone, position at company, entitlements, and, when applicable, percentage ownership of the additional business party. As a result of completing this form in the Q2 BAO Back Office, this adds the business party to that application and sends an email to the newly created business party.

(CBLT-1039)

Modified the signer checkbox to be the primary applicant's control person certification checkbox

Modified the following checkbox on the Email & Identity page in the application workflow: "I certify I am a Control Person and I have the right to perform financial transactions & activity for this business." This statement includes a pop-up that defines "control person." This was modified to ensure that primary applicants that do not want to be authorized signers on the business accounts they are applying for are not forced to be an authorized signer. Additionally, the Q2 BAO Back Office has been updated to include fields that reflect if and at what time the applicant selected the checkbox.

(CBLT-1061)

Additional changes

• Added support for applicant workflow questions to determine whether the applicant's business owns, operates, or replenishes an ATM. (CBLT-1036)
• Added Q2 BAO Back Office fields to reflect whether and at what time the applicant accepted the privacy notice ("I understand how you use my information" on the Email & Identity page). (CBLT-1064)
• Updated Q2 BAO applicant workflow to display the Beneficial Owners Certification page only when an applicant is a beneficial owner. (CBLT-1071)
• Added a new Additional Questions About Your Business page to the applicant workflow to consolidate the questions around backup withholding, marijuana, hemp, CBD, and Internet gambling that were previously included on the Industry Code page, as well as ATM ownership, professional services providers, and charitable donations questions. (CBLT-1046)

Fixes

• Fixed an issue where the applications for Q2's SMB and LOS solutions were showing up in the same dashboard for BAO applicants. (CBLT-678)