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Product applications
The process of onboarding profiles to products. A profile may be going through multiple product applications at the same time.
Every product application has the following process:
The product application begins when a product is assigned to a profile.
If the product has an assigned risk model for the profile's type, it is applied and a risk level is attributed to the product application.
The product’s smart policy is applied. If the product has one smart policy for individual profiles and another for company profiles, the relevant smart policy is selected for the profile’s type.
The smart policy rules are applied to create a list of onboarding tasks for the profile. If your smart policy is configured to automatically reject profiles based on their risk level, the smart policy rejects the profile if the risk level matches your specifications. For more information, see the definition for Smart policies.
Any checks that have been configured to run automatically for new product applications are performed, and their results are displayed in the profile’s tasks.
The onboarding status for all other tasks is displayed, indicating what action should be taken next; for example, users may be required to pass tasks manually, or customers may be required to complete forms.
Once all tasks are passed, the status of the product application is determined by the smart policy. If automatic approvals are configured, the product application is approved automatically. If not, the onboarding status of the product application is displayed as Ready for decision, indicating that a user will need to approve or reject it manually.
The applicants or customers currently going through your onboarding processes. One profile is created per applicant or customer.
A product or service that profiles can apply for, such as a current account or credit card.
There are two profile types: individual profiles, which are used for people, and company profiles, which are used for companies.
The rules that determine which onboarding tasks are required for a profile during a product application, for example, verify an individual’s identity.
The due diligence measures that must be taken to onboard a profile successfully. Tasks are displayed on the profile’s product application.
The automated processes that can be used to complete or assist in passing tasks.