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Deposit Dashboard - Status Overview

What are the different Application Statuses

CreditSnap experience is designed to automatically allow applicant through the different stages of the applicaiton. Each stage of the deposit applicaiton process is represneted by one icon.  An application needs your attention ONLY when one of the icons are RED

The colors of the above logos dictate their current statuses:

GREY - Not Started

BLACK -  Started

RED - Failed

Green -  Complete Successfully

KYC Level I

 

This icon is a representation of the first level of KYC. It includes OFAC and other checks. If this leads to a "Flag" (NO CLEAR), then KYC Level II has to be CLEARed by the applicant before progressing further. Some organizations trigger KYC Level II even if KYC Level I is a CLEAR  

 

KYC Level II

 

 

This icon is a representation of the second level of KYC. It usually involves full ID Verificaiton. System does a good job at reviewing the IDs and authenticating it for validity (including comparing the face picture to the picture on the ID). However, sometimes the ID picture or the selfie picture can be pixelated or not taken in good lighting - and in these scenarios the system will mark such an applicaiton as "Pending Review" and this icon will turn RED.

 

If RED, then you will need to review the ID Verificaiton documents from the "Documents" tab and if everything looks good, use the "Approve ID Verification" option. Once approved use "Send App Online" option to send the aplicaiton back to applicant

 

 

 

Agreements / eSignatures

 

This icon is a representation of agreements status. Agreements will be triggered ONLY after KYC is complete. eSignatures are always administered from the "Documents" tab. However, this icon lets you immediately gaze the status. GREY indicates the agreement step has not begun. BLACK indicates this step has begun (customer received the signature request) but customer has not completed the step or the applicant might have completed but the coapplicant may not have completed. GREEN indicates agreements are successfully completed. RED indicates some issue with the completion, and hence needs your attention. 

 

eSignature packets can be created, edited and sent - all from within Documents tab.

 

 

     

    Funding/Payment Status

     

     

    This icon is a representation of funding/payment status. Although it is a "card" icon, it represents funding done through any mechanism - be it ACH, Debit Card, Credit Card (or) Internal GL (Acocunt to Account) Transfer. Funding is usually possible ONLY after agreements are signed. GREY indicates the funding step has not begun yet. BLACK indicates this step has begun (customer received the funding link) but customer has not completed the step. GREEN indicates funding was successfully completed. RED indicates some issue with the payment transaction, and hence needs your attention. Payment transaction receipt is available in the "Documents" tab, and this tab also gives you the ability to refund a payment transaction if you need to. (Only available if your Organization uses RePay and not with Authorize.Net) 

     

     

     

    Core Onboarding Status (Applicable ONLY if CreditSnap integrates into your core system. Flex, DNA, Symitar, XP2, Corelation, Base 2000 are all examples of Core systems that CreditSnap is integrated with)

    CreditSnap automatically boards the account into Core - usually prior to Agreements as the account number is needed on the agreements. Where account number is not needed on the agreements, core boarding is done after agreements and funding steps are completed

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