15.9 Step 9: Approval Rules

This topic describes the information about Approval Rules feature. This function enables the Bank Administrator to set up conditions for approval as well as for Releaser as per the bank/corporate requirements.

A rule can be set up for financial, non-financial, non-account financial transactions and for maintenances. Flexibility is provided to define approval rules with conditions stating that specific transaction if initiated by a specific user/ user group/All users has to be approved by a specific approver/approver group along with other attributes like amount range etc.

For an approval rule, the user has an option to select one workflow within which different levels are available for approver and checker. The release rules should be resolved at the time of transaction initiation. The users mapped at the time of transaction initiation will be able to release the transaction. The rules specific to release can be configured for a combination of initiator type (user, user group), transactions and accounts. User can set up the release rule only for those transactions for which the release functionality is required. If no rule is configured for a combination of values, then it will be considered as no release required. All the transactions as per the specified rule, will be sent for release to the configured users/user groups post successful approval at all levels.

When Approval Rules are created, updated, or deleted as part of Group Corporate onboarding, the changes are processed asynchronously through the GCIF framework. The GCIF scheduler periodically validates whether the approval rule changes have been successfully persisted in the main domain before updating the onboarding request status.

The scheduler validates persistence based on the requested operation:

Table 15-45 Validation Criteria

Operation Validation Criteria
Create The approval rule is available in the main domain.
Update The persisted approval rule matches the requested changes.
Delete The approval rule is no longer available in the main domain.

Note:

The persistence validation and status updates are performed automatically by the GCIF scheduler. No additional action is required from the Bank Administrator after submitting an approval rule onboarding request.
Pre-Requisites
  • Transaction access is provided to Bank Administrator
  • Party preference is maintained for setting up rules for corporates
  • Corporate and Administrator users are maintained
  • Workflow configuration is maintained if approval required is to be set as ‘Yes’
  • Approval rule set up for Bank Administrator to perform the actions
  • Necessary user groups and approval workflows are maintained
  • Approval rules can be configured at the Party-GCIF combination level, allowing different approval structures for the same Party under different Group Corporates.

Features supported in application

The Approval Rule maintenances allow the bank administrator to:

Figure 15-74 Workflow


Description of Figure 15-74 follows
Description of "Figure 15-74 Workflow"

Navigation Path: Perfrom anyone of the following navigation access to Approval Rules tab.

  • From System/ Bank Administrator Dashboard, under Corporate Onboarding , click Group Corporate Onboarding and then click Approval Rules tab.
  • From System/ Bank Administrator Dashboard, click Toggle Menu, then click Menu and then click Group Corporate Onboarding, UnderGroup Corporate Onboarding , click Approval Rules tab.

Parent topic: Group Corporate Onboarding