The explanation below applies when you have selected STANDARD as the Account setup type when creating the account application.
The account application will go through a manual approval process after the account application confirmation.
Click Accept if the application meets all the account opening criteria.
Click Reject if it does not meet the required criteria for account opening.
Click Mark for review if additional due diligence about the applicant is required to decide whether to accept or reject the application.
After clicking the Accept, Reject, or Mark for review button, the confirmation modal will open. In this modal, you can:
select the status change reason and
fill in a comment.
Click Yes to confirm the application status change.
Clicking the Mark for review button sets the account application to PENDING status. In this intermediary status, the decision to accept or reject the application must be made.
Once you have finished the additional due diligence, click the Accept or Reject button to change the application's status.
Clicking the Accept button sets the account application to the ACCEPTED status and starts fully automated account opening processing.
If successful, the account application gets the status PROCESSED, and the primary account number of the opened account will be visible on the account application details page.
Clicking the Reject button sets the account application to the REJECTED status, which is the final status and ends the application's processing.
For more information, refer to the explanations about .
INSERTED
The INSERTED status indicates a draft account application has been created.
You can edit or cancel the application at this stage.
The application needs to be confirmed to proceed with application processing towards account opening.
PREPARED
After confirmation, the application becomes uneditable and enters the PREPARED status. The Tuum system automatically sends the account application to the account service provider for account opening due diligence and account number assignment.
CANCELLED
The CANCELLED status indicates that either:
the draft account application was cancelled or
the confirmed application was cancelled before the subsequent processing steps were finished.
PENDING
The PENDING status indicates that the Tuum system received a response from the Account service provider notifying Tuum that its AML review process is ongoing.
ACCEPTED
The ACCEPTED status indicates that the Tuum system has received a message from the account service provider stating that the AML review process has been successfully completed. The message includes the assigned primary account number. The Tuum system will proceed to the account opening.
REJECTED
The REJECTED status indicates that the Tuum system has received a message from the account service provider stating that the AML review process has failed. It is the final status and terminates the account application's processing.
PROCESSED
The PROCESSED status indicates that the Tuum system has completed the account opening process. The application also includes the assigned account number by the account service provider.
ERROR
The ERROR status indicates that the account application processing has encountered a technical error during the account opening process. You can manually retry the failed part of the process for failover.
These account application statuses apply if the Tuum configuration for accounts is .
The explanation below applies when you have selected the EXTERNAL_VIRTUAL as the Account setup type when creating the account application.
After confirming the account application, the Tuum system automatically sends it to the Account service provider for AML review.
The account service provider will review the application and respond with acceptance or rejection.
In case the AML review takes longer, the Account service provider sends a response with a pending status.
When the Tuum system receives a response with the pending status, it means the AML review process with the Account service provider is still ongoing.
Next, the Tuum system sets the account application to PENDING status. The application stays in this intermediary status until the Account service provider sends the message about accepting or rejecting it.
When the Tuum system receives the response with acceptance, it means the application has met all the account opening criteria of the Account service provider. The response then also contains the assigned account number.
Next, the Tuum system sets the account application to the ACCEPTED status and starts fully automated account opening processing with the account number assigned by the Account service provider.
If successful, the account application gets the status PROCESSED, and the primary account number of the opened account will be visible on the account application details page.
When the Tuum system receives a rejecting response, it means the application has not met the required criteria for opening an account with the Account service provider.
Next, the Tuum system sets the account application to the REJECTED status, which is the final status and ends the application's processing.
For more information, refer to the explanations about .
INSERTED
The INSERTED status indicates a draft account application has been created.
You can edit or cancel the application at this stage.
The application needs to be confirmed to proceed with application processing towards account opening.
PREPARED
After confirmation, the application becomes uneditable and enters the PREPARED status. The account application is ready for a manual approval process to change its status to PENDING, ACCEPTED, or REJECTED.
CANCELLED
The CANCELLED status indicates the draft account application was cancelled.
PENDING
The PENDING status indicates that the application processing is on hold until additional due diligence is complete. It is intermediary status before the account application gets ACCEPTED or REJECTED status.
ACCEPTED
The ACCEPTED status indicates the account opening due diligence has successfully completed and the process will proceed with the account opening.
REJECTED
The REJECTED status indicates the account opening due diligence has failed. It is the final status and terminates the account application's processing.
PROCESSED
The PROCESSED status indicates that the Tuum system has completed the account opening process. The application also includes the assigned account number by Tuum.
ERROR
The ERROR status indicates that the account application processing has encountered a technical error during the account opening process. You can manually retry the failed part of the process for failover.
These account application statuses apply if the Tuum configuration for accounts is .
After the account application is confirmed, the subsequent processing will depend on your selection for the account setup type. To find out more, find the relevant explanation for STANDARD or EXTERNAL_VIRTUAL selection options.
