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Springboard

Use cases for Springboard solutions

     SpringboardThis topic is related to Springboard.   |     Form Builder |    23.10This feature was updated in 23.10     Retail DAO 4.1This feature was updated in Retail DAO 4.1.      SMB DAO 1.4This feature was updated in SMB DAO 1.4.      Lending 1.1This feature was updated in Lending 1.1.

Every Springboard solution is intended to be a ready-made solution that enables onboarding of new and existing customers by a client financial institution (FI). Springboard solutions are not intended to be used without the basic level of customization documented in the client specification documents. The use cases covered below are supported by standard Springboard.

Use case Retail DAO SMB DAO Lending
Select products check   check
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Apply for new loan     check
Auto-approve check check check
Auto-decline check check check
Manual review check check check
Manual approve check check check
Manual decline check check check
check check  
Resume application check check check

Use case: Select products

Scenario
Applicant may review available products, learn more, and then select one or more products to apply for before continuing to the DAO application.
Actor
New or existing customer / member
Preconditions
The implementation includes the product selector form. If the product selector form is not included, product selection will occur on the FI website with products passed to the DAO application.
Postconditions
  • User has selected one or more products to apply for.
  • Transition seamlessly to the DAO form.

Use case:

Scenario
Apply for a new personal Direct Deposit account offered by the financial institution using a mobile or desktop device.
Actor
New or existing customer / member
Preconditions
Product has been selected on the FI website or in the product selector form.
Alternate flow: Joint applicant
Collect co-applicant details and submit for IDA/IDV.
Alternate flow: Save
Applicant elects to save the application and resume later. Requires an email and mobile phone number.
Alternate flow: Cancel
Applicant elects to cancel the application.
Exception: Unrecoverable error
An error occurs without a known means of recovery and the application is sent to the Onboarding Error queue in Workspaces. Applicant must start a new application.
Exception: Review
The application is flagged for review based upon applicant information and third-party results. A message is displayed to the applicant. The application is sent to the Review queue in Workspaces. A review email is sent to the primary applicant. See Review Use Case.
Exception: Decline
The application is declined based on applicant information and third-party results.
Postconditions
  • Applicant has provided their details.
  • Applicant has been submitted for IDA/IDV.
  • Applicant has accepted disclosures.
  • Application has been decisioned.

Use case:

Scenario
Apply for a new Direct Deposit account for business offered by the financial institution using a mobile or desktop device.
Actor
New business customer.
Preconditions
Product has been selected on the FI website or in the product selector form.
Alternate flow: Beneficial owner
Collect Beneficial Owner details via the SMB Owners form and submit for IDA/IDV.
Alternate flow: Signatory
Collect account Signatory details via the SMB Owners form and submit for IDA/IDV.
Alternate flow: Save
Applicant elects to save the application and resume later. Requires an email and mobile phone number.
Alternate flow: Cancel
Applicant elects to cancel the application.
Exception: Unrecoverable error
An error occurs without a known means of recovery and the application is sent to the Onboarding Error queue in Workspaces. Applicant must start a new application.
Exception: Review
The application is flagged for review based upon applicant information and third-party results. A message is displayed to the applicant. The application is sent to the Review queue in Workspaces. A review email is sent to the primary applicant. See Review Use Case.
Exception: Decline
The application is declined based on applicant information and third-party results.
Postconditions
  • Applicant has provided their details.
  • Applicant has been submitted for IDA/IDV.
  • Applicant has accepted disclosures.
  • Application has been decisioned.
  • All Beneficial Owner forms are complete.
  • All Signatory forms are complete.

Use case: Auto-approve

Scenario
Automatically approve applications based on data collected and information from third party vendors.
Actor
Decision Engine.
Preconditions
  • Data collected from the applicants.
  • Data from third party vendors indicate approval based upon rules.
Postconditions
  • Application approved.
  • A confirmation is displayed to the applicant.

Use case: Auto-decline

Scenario
Decline an application based on information gathered in the application and on information from third party vendors.
Actor
Decision Engine.
Preconditions
Decision rules have been established to determine if an applicant is declined.
Postconditions
  • A declined message is displayed to the applicant.
  • Non-FCRA or FCRA decline email sent to the applicant.

Use case: Approve, deny, or send to manual review (automated)

Scenario
Approve, deny or send application to manual review workflow based on information gathered in the application and based on information from third party vendors. Customized Decision Rules are part of the customization available in a Base Springboard implementation and are defined in the Customization Specification document.
Actor
Financial Institution

Use case: Manual review

Scenario
Applications that receive a Manual Review decision from the automated Decision Rules are sent to a manual review workflow. This workflow uses Workspaces, the details of which are not covered here. After manual review, an application may be approved or denied. When approved, the application workflow moves forward to the Fund New Accounts use case and workflow.
Actor
Financial Institution Employees
Preconditions
An application receives an automated decision of Manual Review.
Postconditions
  • A message is displayed to the applicant.
  • The application is sent to the Review queue in Workspaces.
  • A review email is sent to the primary applicant.

Use case: Manual approve

Scenario
Manually approve applications in Manual Review based upon data collected and information from third party vendors.
Actor
Financial Institution Employees
Preconditions
  • Data is collected from the applicants.
  • Data is collected from third party vendors.
  • The application is in the Manual Review queue in Workspaces.
Postconditions
  • The application is approved.
  • An approved email is sent to the applicant.

Use case: Manual decline

Scenario
Manually decline an application based on information gathered in the application and from third party vendors.
Actor
Financial Institution Employees
Preconditions
  • Data is collected from the applicants.
  • Data is collected from third party vendors.
  • The application is in the Manual Review queue in Workspaces.
Postconditions
  • A declined message is displayed to the applicant.
  • A non-FCRA or FCRA decline email is sent to the applicant.

Use case:

Scenario
Allow the applicant to add funds to their new deposit accounts using a mobile or desktop web browser on their personal device. The applicant may add funds using a verified existing bank account, internal existing account, credit card, debit card, or by mailing a check. Funding is required in Standard Springboard DAO solutions.
error

Making funding optional is a customization.

Actor
New or existing customer/member.
Preconditions
Applicant has been approved for a new deposit account, either automatically or manually. If auto-approved, the applicant has transitioned seamlessly to the Deposits Form. If manually approved, the applicant has resumed the application at the Deposits Form.
Alternate flow: Credit or Debit Card
Applicant funds the new account with a card.
Alternate flow: Electronic Funds Transfer
Applicant funds the new account with a verified existing account at another institution.
Alternate flow: Internal Transfer
Existing customer/member funds the new account with an existing account at the institution.
Alternate flow: Mail a check
Applicant funds the new account by delivering a check via mail or in person.
Exception: Recoverable error
Problems encountered with the chosen funding method. Applicant allowed to select another method of funding the new account.
Exception: Unrecoverable error
An error occurs without a known means of recovery and the application is sent to the Onboarding Error queue in Workspaces. Applicant must start a new application.
Postconditions
  • A new customer record is created (if new to FI) in core banking system.
  • New accounts are created in the core banking system.
  • Funding initiated.
  • Application submitted.

Use case: Resume application

Scenario
Allow the applicant to resume the application after it has been saved, or they have been manually approved.
Actor
Applicant
Preconditions
  • Application was saved - manually or automatically.
  • Applicant has an email with a link to resume the application.
  • Applicant provided a valid mobile phone number in the application.
Postconditions
Applicant returns to the application at the last page saved.

Next, learn about options for the DAO in-branch experience.