Underwriting Template Configuration
Underwriting Template configuration is a seven-step procedure that allows to set and/or edit Underwriting Template parameters.
The procedure consists of the following steps:
- General
- External validation
- Onboarding
- Business Details
- Contacts
- Risk Profile
- Risk Assessment
- Confirmation
Let us configure an Underwriting Template!
Please enter the name of the configured Underwriting Template to be displayed in the System, and select an existing underwriting template, if you want to copy settings therefrom (otherwise, select None in the Copy Settings From field).
| Name | Description | Optionality |
| Service Provider | Select a Service Provider you create a Template for | Required |
| Underwriting Template Name | Enter your Template name to be displayed in the system | Required |
| Copy Settings From | The list of available Underwriting Templates to copy settings from is preloaded automatically based on your Service Provider selection. To skip selecting a Template, select None in the Copy Settings From drop-down list. Enabled for the Edit form only | Required |
| Underwriting Notifications | Select triggering event for receiving Underwriting Notifications (email or webhook) about applications:
| Optional |
| Copy Settings From | The list of available Underwriting Templates to copy settings from is preloaded automatically based on your Service Provider selection. To skip selecting a Template, select None in the Copy Settings From drop-down list. Enabled for the Add Template form only | Required |
| Auto-Approval Application | Select to approve the Application automatically after it was submitted. Note, that either Auto-Approval Application, or External Validation can be enabled at the same time | Optional |
At this step, you can connect to several services for external entities validation:
- LexisNexis
- Mastercard Match
- TinCheck
- TransUnion Canada
- TransUnion USA
- PLAID
- GIACT Unlike external entities validation, you cannot use both services for external bank validation at the same time
*In case one or more of these services are enabled, particular fields will be locked in the Template as ‘required.’ A notification thereon is displayed at the bottom of the screen.
- Select the Mastercard Match service in the Validation Services field.
- Enter Private Key, Consumer Key, Match Acquirer Id (you can find them in your personal account on the Mastercard Match website).
- Set possible match count (is used to determine the minimum number of matches for a merchant to appear in the terminated list).
- Select type of company address validation (either business or corporate one).
- Set validation scores for companies and owners ().
If you want to validate only the owners with control prong, mark this box in the owner validation score settings. Otherwise, the system will validate all owners.
The control prong, of which there must be one, is the person with the most control and responsibility, like a CEO, COO, or company president. Ownership prongs are any person who owns 25% or more of the equity interests in the account.
- Select the TransUnion USA service in the Validation Services field
- Enter information about the Subscriber (Subscriber Code and Password) received from TransUnion USA during registration on the TransUnion USA validation service
- Upload the digital certificate and enter the passphrase thereto
- Set Action for each VantageScore range depending on which the Application will be approved/declined.
- Select the TinCheck service in the Validation Services field
- Select validation method (either you validate owner, or company, or both owner and company)
- Set validation scores for companies and owners.
* If you want to validate only the owners with control prong, mark this box in the owner validation score settings. Otherwise, the system will validate all owners.
Data on validation of the owners with control prong is highlighted in the Application Preview Details as well.
- select the PLAID service in the Validation Services field;
- select validation method (for Bank Account Status & Ownership validation method set a threshold for owner name matching and decide whether you decline the application in case of owner validation failure);
- select bank account country (this service works in the USA, Canada, the UK, Ireland, the Netherlands, France, Spain);
- decide whether you decline the Underwriting Application in case of bank account validation failure.
- Select the LexisNexis service in the Validation Services field
- Enter Authentication Credentials (User Id, Password) received from LexisNexis during registration on the LexisNexis validation service
- Select validation method (either you validate company, or both owner and company)
- Set Action to each value of BVI (for Company validation) and CVI (for Owner validation) depending on which the Application will be approved/declined.
If you want to validate only the owners with control prong, mark this box in the owner validation score settings. Otherwise, the system will validate all owners. The control prong, of which there must be one, is the person with the most control and responsibility, like a CEO, COO, or company president. Ownership prongs are any person who owns 25% or more of the equity interests in the account.
To include owner’s Driver’s License in verification process, mark this box in the owner score settings.
Address Match, First Name Match, Last Name Match indicate whether the request requires the input data to exactly match the records that are on file in LexisNexis.
- Select the GIACT in the Validation Services field;
- Enter Credentials (User Name and Password) received from GIACT during registration on the GIACT validation service;
- Select validation method (either you validate bank account status, or both bank account status and bank account ownership);
- Set Action for each possible result of bank account status validation and if it is selected of bank account ownership validation depending on which the Application will be approved/declined.
During bank account ownership verification “Account Holder Name” is validated. For business accounts also “Business Legal Name” and then “DBA Name” are validated in case negative result is received during previous validation (e.g. if for “Account Holder Name” negative result is received then next name “Business Legal Name” will be validated).
- Select the TransUnion Canada service in the Validation Services field
- Enter information about the Member Credentials (Member Code and Password)
- If you want to validate only the owners with control prong, mark this box in the owner validation score settings. Otherwise, the system will validate all owners.
- Set Action for each VantageScore range depending on which the Application will be approved/declined.
The Onboarding Step allows to configure automated onboarding to Processor and Gateway, automated Sub-Account and User creation including pricing Details.
Select the relevant Processor and enter required fields to configure external onboarding to the processor. Enter required fields for onboarding to the Gateway.
Select whether you would like to create a new Platform Account or use an existing one for automatic Sub-Account creation. The sub-account will be created after approval and onboarding to the Processor system. Details of the Onboarding fields to the processor are displayed in the preview grid of the corresponding Application. Additionally, it is possible to configure the automated User creation. Select user role and whether you would like to create a user for each Owner from the Application or only for Owners marked as Control Prong.
Select the Pricing Sub-Account Template to be used for setting up the future Sub-Accounts. Merchants can be informed and provided their approval on their pricing details in the Application. Select the Fee Disclosure Box to ensure that all fees are transparently disclosed to merchants as per their specific agreements.
Please, decide what business details and banking details will be included in the Application based on this Template:
- Set hidden to hide a parameter in the Application.
- Set visible if a parameter can be filled in the Application in.
- Set required if this parameter must be filled in the Application in.
If it is required to add your own parameter to the Application, select visible or required for any Custom Field and indicate a name under which such parameter is to be displayed in the Application.
If it is required to add any document, set any Custom Document as visible or required and indicate a name under which such document is to be displayed in the Application.
Please, decide what contact details and owner details are to be included into the Application based on this Template:
- Set hidden to hide a parameter in the Application.
- Set visible if a parameter can be filled in the Application in.
- Set required if this parameter must be filled in the Application in.
If it is required to add your own parameter to the Application, select visible or required for any Custom Field and indicate a name under which such parameter is to be displayed in the Application.
If it is required to add any document, set any Custom Document as visible or required and indicate a name under which such document is to be displayed in the Application.
Please, decide what business profile data will be included in the Application based on this Template:
- Set hidden to hide a parameter in the Application.
- Set visible if a parameter can be filled in the Application in.
- Set required if this parameter must be filled in the Application in.
If it is required to add your own parameter to the Application, select visible or required for any Custom Field and indicate a name under which such parameter is to be displayed in the Application.
If it is required to add any document, set any Custom Document as visible or required and indicate a name under which such document is to be displayed in the Application.
Please, decide what data on business financials and business processing history is to be included in the Application based on this Template:
- Set hidden to hide a parameter in the Application.
- Set visible if a parameter can be filled in the Application in.
- Set required if this parameter must be filled in the Application in.
If it is required to add your own parameter to the Application, select visible or required for any Custom Field and indicate a name under which such parameter is to be displayed in the Application.
If it is required to add any document, set any Custom Document as visible or required and indicate a name under which such document is to be dipslayed in the Application.
Check the configured parameters. If you need to change some of them, return to the corresponding steps. Otherwise, press the Submit button to confirm your settings.
Your Underwriting Template has been created!