Banking Information.pptx

Verifications New hire Training Banking Information New Hire Training Bank Information Updates When an agent updates the bank information in any way during the verification process, the agent must follow the process below: When entering in the account number the customer is providing, if the inf...

Verifications New hire Training Banking Information New Hire Training Bank Information Updates When an agent updates the bank information in any way during the verification process, the agent must follow the process below: When entering in the account number the customer is providing, if the information entered is different than what is on file, the agent will receive the below error: The agent must click the “Update Bank Account Information” button above the bank account number field. Once this is clicked, the account and routing number displayed on the verification page should automatically populate in this window. The agent must ask the customer for the routing number and enter it in the “Routing Number” field. Bank Information Updates (continued) The agent will then click “Look Up”. The agent must input the customer’s name in the “Bank Account Holder Name” field.agent must select “Checking” or The “Savings” for the “Account Type”. The agent must select “Yes” or “No” for “Has Online Banking”. The agent must select “Yes” or “No” for “Is Direct Deposit”. Once all information is entered, the agent will click “Validate”. Bank Information Updates (continued) The system will then run the bank information through data science, and a new window will pop up with a banner stating the status of the update. Please see below for the different statuses. If the bank information update is approved, it will display the banner below and the agent will proceed as normal. If the bank information needs extra verification per data science, it will populate a “Decision Logic Required” banner. Bank Information Updates (continued) The “Manager Approval” icon will populate next to the bank information on the verification page. The bank information fields on the verification page will also not show as verified until the Decision Logic has been approved. The agent will continue verifying the remaining fields on the verification page, however, before giving the final approval, the agent must advise one of the below, depending on if the customer has online banking. Online Banking If Decision Logic supports the customers banking institution, every customer with this banner who has online banking will need to complete a Decision Logic. If a customer is unable to complete the Decision Logic, the agent will advise the customer: “At this time, we are unable to move forward without completing the Decision Logic” Bank Information Updates (continued) No Online Banking The agent will advise the customer: “At this time, we are unable to move forward without completing the Decision Logic. Do you have another account we could use, or would you be able to set up online banking with your bank?” o After the Decision Logic is completed, the agent will send a request to the assistance channel in RingCentral for a member of management to review the Decision Logic.  The management response will explain whether we must inform the customer we cannot fund them at this time with that bank information or whether we can submit for approval again with different bank information. o If the member of management approves the Decision Logic, the “Manager Approval” icon will turn green once it has been approved and the member of management will leave a note on the account with the approval. Bank Information Updates (continued) The agent must proceed with the final approval once they have gotten the approval from management. If the member of management denies the Decision Logic, the “Manager Approval” icon will contain an (X) and the “Last Bank Change Audit” dashlet will display a banner saying the Decision Logic was denied. The member of management will leave a note on the account stating the reason for the denial (This must not be given to the customer) and whether we must give the customer a denial or ask for new bank information. The agent must read the notes and advise the customer to either provide new bank information or give them the standard denial depending on the note from management. If the customer’s bank information update was “Denied” by data science, it will populate a banner stating “Decline”. Bank Information Updates (continued) If the customer’s bank information update received the response “Model API Response Decline”, this means the information the customer is attempting to use already exists in the system. The agent MUST send a response to the “Lendox Questions/issues” channel for further assistance. If the customer’s bank information update received the response “Model API Response Decline”, this can mean several different things. Please see below for possible reasons: o Duplicate Account Number o Customer has a Pending Loan o Account Number has Too Many Digits o Bank Verification Below Threshold o Routing Number is on the Origination Exclusion List (Blacklisted) o Account Number is on the Origination Exclusion List (Blacklisted) o Routing Number is Invalid  The agent must have the customer review their online banking or a bank statement to reconfirm the routing and/or account number are correct. The agent must type in the information provided by the customer through the “Update Bank Information” button. o If the customer confirms the same information and the agent receives the “Model API Response Decline” again, the agent must advise the customer a new bank account is needed.  If the customer provides new information, the agent must update Bank Information Updates (continued) If the agent receives this denial, the bank information provided cannot be used and the customer MUST provide other bank information. If the customer’s bank information update was “Failed” by the Accelitas, it will populate a banner stating “Accelitas API Call Failed”, if this happens, this means the routing number may be incorrect, the agent must have the customer confirm their routing number is correct.