A small new feature going to have better visibility for different our applications (new client, new account requests, PRO account requests). This feature will help us understand if there are any bottlenecks during our application process and further make improvements in our overall process if needed.
The Feature - You will notice a new tab "All" in the ID verification tab in our Admin hub. This tab will have all current applications in it. Each of those applications will have the following information
- KYC Status - with which team is the application
- KYC Status time - how long the team has it
- Time since applied - Time it has been since the client submitted the request.
The idea and effort would be to collect data over time, understand the average application approval times and implement processes to improve on it (if needed).
Two things to note here
- As with most of our features, this is an agile build as well. As in this is just a first iteration. There are quite a few suggestions and improvements that we are planning on the same and will be rolling out on stages.
- This feature will be used by some stakeholders heavily so I will be sending an email shortly that explains the working more deeply. This email is more of an announcement for everyone.
Why are we doing this?
This new feature aims to improve the monitoring of client applications, providing valuable data to assist management in making future decisions for enhancements. All our workflows begin with client apps (which is the lifeblood our business)! We ask for everyone's cooperation, as the accuracy and usefulness of the data rely on consistent efforts from all teams.
Expectations: Our goal is to ensure all client apps are reviewed in a timely manner. Below is a rough estimate of the times we should aim for (subject to change):
- New and additional applications to be reviewed within 10 minutes.
- Any escalations to another teams should be addressed within 24 hours (at most).
What is what?
KYC Status: displays which team the application is currently 'pending' with for a decision. The possible selections are:
CS: CS team
KYC: Me + KYC Manila
Sales: Sales team in Melbourne
Pending: App being posted and waiting for further info from the client.
Completed: Account approval complete [this selection is automatic if the account is 'approved' - manual selection not required]
KYC Timer: displays how long the app has being pending with the relevant team (this timer will reset each time it is assigned to a new team).
Time since applied: displays the total time lapsed since the client has made the request.
Instructions:
Step 1: When a new application is received, the KYC status is defaulted to CS team.
If app can be approved > Approve
If app cannot be approved > Decline
If escalation is required > 1) Email the relevant team, and 2) Assign the KYC Status to the relevant team
Step 2: Once the relevant team has responded to the email escalation. CS team to action again and return to step 1. Repeat as necessary + remember to update the KYC status back to CS.
Other specifics:
- @Fusion Client Success: If waiting on client response or to provide more info and we have to keep the app posted on hub (such as the 48hr rule) > set the KYC status to Pending.
- @Fusion Ops: For the FM AU hub, we now have the capability to remove resolved Pro applications from the Experience Test Uploads. Once a decision to approve or decline a Pro application is made, please remove the application and leave sufficient notes. Any pending applications in the Experience Test Uploads will indicate a final decision is still needed.
