Approval rules
This function enables the Corporate AdministratorAdministrator is a set of individuals that administer the applicant/Affiliate entity. For example, Accountants, Authorized Signatories for organizations, Power of Attorney for individuals. to set up conditions for approval as per the bank/ corporate requirements. Rule can be set up for financial transactions, non-financial transactions and for maintenances. Flexibility exists to define approval rules with conditions stating that ‘specific transaction’ if initiated by a ‘specific user/user group’ has to be approved by a ‘specific approver/approver group’ along with other attributes like amount range etc.
Prerequisites:
- Party preference is maintained for setting up rules for corporates
- Corporate Administrator is maintained for a party
- Transaction access is provided to Corporate Administrator
- Corporate users are maintained under a party
- Workflow configuration is maintained if approval required is to be set as ‘Yes’
- Approval rule set up for Corporate Administrator to perform the actions
- Necessary user groups and approval workflows are maintained
Workflow
Features supported in application
The Approval Rule maintenances allow the Corporate Administrator to:
How to reach here:
Corporate Administrator Dashboard > Quick Links > Approvals > Rule Management > Approval RulesRules are set of application instructions to form the logic and basis of calculation across various modules. Multiple conditions can be set in a single Rule ID. These rules are used across modules to calculate interest rates, service charges, and so on.
OR
Toggle Menu > Approvals > Rule Management > Approval Rules
Approval Rules – Summary
Corporate Administrator logs into the system and navigates to the Rules Management screen, approval rules maintained (if any) for the party mapped to the user are displayed on the screen. User can view the details of existing rules or can create new approval rule using this screen.
Approval Rules
Field Name |
Description |
---|---|
Party ID |
PartyA party is any individual or business entity having a banking relationship with the bank. ID mapped to the logged in Corporate Administrator. |
Party Name |
Party name of Party ID mapped to the logged in Corporate Administrator. |
Rule Code |
Code of the already maintained approval rule. (This field will be displayed only if existing approval rules are available under a party). |
Maker |
Initiator (User ID or User Group Code) of the transaction. (This field will be displayed only if existing approval rules are available under a party). |
Approval Required |
Whether approval is required for each rule maintained. |
Workflow Code |
The approval workflow code. |
- Click the Rule Code link to view details of the selected Approval Rule.
OR
Click Create to create new approval rule.
OR
Click Cancel to cancel the operation and navigate back to ‘Dashboard’.
Approval Rules - View
On accessing ‘Rules Management’ menu option, summarized view of all the approval rules maintained if any under a party are shown on the screen. Further drill down is given on the each rule to view the details of approval rule.
To view the approval rules:
- In the Approval Rules screen, click the Rule Code link, for which you want to view the details. The Approval Rules - View screen appears.
Field Name |
Description |
---|---|
Party ID |
Party ID mapped to the logged in Corporate Administrator. |
Party Name |
Party name of Party ID mapped to the logged in Corporate Administrator. |
Rule Type |
Transaction rule type for which the approval rule is set up. The transaction rule types are:
|
Rule Code |
Approval rule code. |
Rule Description |
Approval rule description. |
Initiator |
|
Initiator Type |
Initiator type specified while creating a rule. |
User / User Group |
Name of the user or user group defined as initiator for the rule condition. |
Transactions |
|
Transactions |
Transaction for which the rule is set up. |
Accounts |
|
Accounts |
Field will display the account for which rule being viewed is set up. This field appears if you select Financial and Non Financial in the Rule Type field. |
Currency |
|
Currency |
CurrencyA generally accepted form of money, including coins and paper notes, which is issued by a government and circulated with in an economy. type in which the financial approval rule for a corporate is defined. This field appears if you select Financial in the Rule Type field. |
Amount Range |
|
From Amount/ To Amount |
Transactions allowed for the user between the amount ranges. This field appears if you select Financial in the Rule Type field. |
Workflow Details |
|
Approval Required |
Field displays whether approval is required or not. |
Workflow Details |
Field displays the approval workflow details along with the defined approval levels. This field appears if you select Yes in the Approval Required field. |
- Click Edit to edit the approval rule. The Approval Rule - Edit screen with values in editable form appears.
OR
Click to delete the approval rules.
OR
Click to cancel the operation and navigate back to ‘Dashboard’.
OR
Click to go back to previous screen.
Approval Rules - Create
Corporate Administrator can create approval rules for the corporate users. Administrator is allowed to create an approval rule only if the party preference is maintained and is in active status.
Approval rules can be setup based on the following parameters.
Type of Transactions
- Financial Transactions
- To set the rules for the transactions, which involves exchange of money
- E.g. Money Transfer, Draft Issuance, Redeem Term Deposit etc.
- Non Financial Transactions
- To set the rule for the transaction which are for an account, but does not involve exchange of money
- E.g. Cheque Book Request, Statement Request, Stop Cheque etc.
- Maintenance
- To set the rule for the transaction which are at the party level and not for a specific account
- E.g. Payee Maintenance, Biller Maintenance etc
Initiator
- Specific User
- User Group
Accounts
Transactions
Currency
Amount Range
Administrator can create multiple approval rules for party users. In a scenario when a transaction is initiated and multiple rules are applicable as per set conditions, then the complex rule amongst all the applicable rules is applied for approval.
User can further define if for a condition, the transaction should be auto approved (which means there is no approval workflow and the transaction gets approved as soon as initiator submits it) or should follow a set approval workflow and should get approved by the defined set of approvers. The same is achieved by attaching a workflow maintained for the corporate party.
To create an approval rule:
- Click Create. The Approval Rules - Create screen appears.
Approval Rules - Create
Field Name |
Description |
---|---|
Party Id |
Party ID mapped to the logged in Corporate Administrator. |
Party Name |
Party name of Party ID mapped to the logged in Corporate Administrator. |
Rule Type |
Transaction rule type for which the approval rule needs to be set up. The transaction rule types are:
|
Rule Code |
To specify approval rule code. |
Rule Description |
To specify approval rule description. |
Initiator |
|
Initiator Type |
Initiator type who initiates the transaction. This has options as ‘User’ and ‘User Group’. |
User / User Group |
Name of the user or user group as initiator. If initiator is selected as User, then all the users belongs to the party will be listed for selection. If initiator is selected as User Group, then all the user groups belongs to the party will be listed for selection. |
Transactions |
|
Transactions |
Type of transactions to set the approval rules. Type of transactions depends on the selection of rule type. |
Accounts |
|
Accounts |
Type of accounts. This field appears if you select Financial and Non Financial in the Rule Type field. |
Currency |
|
Currency |
Currency type in which the financial approval rule for a corporate is defined. This field appears if you select Financial in the Rule Type field. |
Amount Range |
|
From Amount/ To Amount |
Transactions allowed for the user between the amount range. This field appears if you select Financial in the Rule Type field. |
Workflow Details |
|
Approval Required |
Option to decide whether approval is required or not for the set condition. |
Workflow |
Field has description of the approval workflow. All workflows maintained for the party are listed here along with the defined approval level for each of them. This field appears if you select Yes in the Approval Required field. |
- In the Rule Type field, select the appropriate transaction rule type.
- In the Rule Code field, enter the code.
- In the Rule Description field, enter the rule name.
- From the Initiator Type field, click appropriate user / user group and select the user/ user group.
- From the Transaction list, select the transactions to be mapped to the rule.
- From the Accounts list, select the appropriate account, if you have selected Financial option in the Rule Type field.
- From the Currency list, select the appropriate account currency, if you have selected Financial option in the Rule Type field.
- In the Amount Range section, enter the appropriate amount.
- In the Workflow Details section, select whether approval is required for the mapped transactions.
- If you select Yes option, select the appropriate Workflow.
- Click
OR
Click Cancel to cancel the operation and navigate back to ‘Dashboard’.
OR
Click Back to go back to previous screen.
to create the approval rule. - The Approval Rule - Create - Review screen appears post necessary validations. Verify the details, and click
OR
Click Cancel to cancel the operation and navigate back to ‘Dashboard’.
OR
Click Back to go back to previous screen.
. - The success message of saving the approval rule creation appears along with the transaction reference number and status.
Click to complete the transaction and navigate back to ‘Dashboard’.
Approval Rules - Edit
Corporate administrator can edit the approval rules. Administrator is allowed to change the description of the rule and is also allowed to change the parameters associated with the specific approval rule.
Modifications in approval rule are allowed only if the party preference is in active status.
Edited rules are applicable for new transactions initiated post rule update. Previously initiated transactions which are pending approval will follow a rule which was applied at the time of transaction initiation.
To edit an approval rule:
- In the Approval Rules screen, click the Rule Code link, for which you want to view the details. The Approval Rules - View screen appears.
- Click . The Approval Rules - Edit screen appears.
Approval Rules - Edit
Field Name |
Description |
---|---|
Party ID |
Party ID mapped to the logged in Corporate Administrator will be displayed. |
Party Name |
Party name of Party ID mapped to the logged in Corporate Administrator will be displayed. |
Rule Type |
Transaction rule type for which the approval rule is set up will be displayed. The transaction rule types are:
|
Rule Code |
Approval rule code provided by the user. |
Rule Description |
Approval rule description provided by the user in editable form. |
Initiator |
|
Initiator Type |
Initiator type who initiates the transaction will be displayed in editable form. |
User / User Group |
Name of the user or user group as initiator will be displayed in editable form. If initiator is selected as User, then all the users belonging to the party will be listed for selection. If initiator is selected as User Group, then all the user groups belonging to the party will be listed for selection. |
Transactions |
|
Transactions |
Type of transactions to set the approval rules will be displayed in editable form. Type of transactions depends on the selection of rule type. |
Accounts |
|
Accounts |
Type of accounts will be displayed in editable form. This field appears if you select Financial and Non Financial in the Rule Type field. |
Currency |
|
Currency |
Currency type in which the financial approval rule for a corporate is defined. This field appears if you select Financial in the Rule Type field. |
Amount Range |
|
From Amount/ To Amount |
Transactions allowed for the user between the defined amounts ranges will be displayed in editable form. This field appears if you select Financial in the Rule Type field. |
Workflow Details |
|
Approval Required |
Whether approval is required will be displayed in editable form. |
Workflow Details |
Details of the approval workflow along with the defined approval levels for a condition will be displayed in editable form. This field appears if you select Yes in the Approval Required field. |
- Edit the required details.
- Click
OR
Click to cancel the operation and navigate back to ‘Dashboard’.
OR
Click to go back to previous screen.
to save the approval rule. - The Approval Rule - Edit - Review screen appears post necessary validations. Verify the details, and click
OR
Click to cancel the operation and navigate back to ‘Dashboard’.
OR
Click to go back to previous screen.
. - The success message of saving the approval rule modification appears along with the transaction reference number and status.
Click to complete the transaction and navigate back to ‘Dashboard’.
Approval Rules - Delete
Using this option, Corporate Administrator can delete the approval rules.
To delete an approval rule:
- In the Approval Rules screen, click the Rule Code link, for which you want to view the details. The Approval Rules - View screen appears.
- Click
User is directed to Approval Rule – Delete confirmation page.
to delete the approval rules. The application will prompt the Corporate Administrator with a deletion message, Click to confirm.
Approval Rules - Delete
FAQs
Can user be the part of multiple user groups crated under a party?
Maximum how many levels of approvals one can set up?