Example: Stage Management Plan for Applicant
Define the stages for the Applicant object. Use Stage Management to configure when and how you want an applicant record to move from one stage to another. Define the steps to be performed when an applicant record moves to a particular stage.
Required Editions
| Available in: Lightning Experience |
| Available in: Professional, Enterprise, and Unlimited Editions |
Object Stage Definitions
In this example, to create a stage definition, we use Applicant as the reference object and the Stage field as the reference object field.
| Stage | Description |
|---|---|
| In Review | The applicant’s review process begins. |
| Evaluation | The applicant's information is reviewed and evaluated for the loan eligibility analysis. |
| Document Validation | The validation of the documents submitted by the applicant begins. |
| Risk Assessment | The overall risk evaluation of the applicant begins. |
| Approved | The applicant record is approved. |
| Rejected | The applicant record is rejected. |
| On Hold | The approval of the applicant record is on hold. |
Object Stage Transitions
Set the criteria for the party profile record to move from one stage to another. This table shows the steps that you can run at each applicant stage. The applicant record moves from one stage to another only if the transition criteria are met and all steps in the stage are completed.
| From Stage | To Stage | Transition Criteria | Step Definition | Step Type With Reference Artifact |
|---|---|---|---|---|
| In Review | Evaluation | No transition criteria | Verify Employment Details. | Integration Defintion - Auto DigitalLendingIndiaEmploymentVerificationIntegDef integration definition |
| Initiate field investigation for employment (optional). | Manual Task No reference artifact |
|||
| Evaluation | Document Validation | No transition criteria | Assign the documents verification tasks to your mid-office agents to manually verify the uploaded documents. | Manual Task No reference artifact |
| In Review | No transition criteria | Revert to In Review stage and assign a manual task to Relationship Manager if further information needs to be collected before evaluation. | Manual Task No reference artifact |
|
| Document Validation | Risk Assessment | Check if all requested documents are uploaded and validated. | Initiate risk assessment based on the applicant’s data. | Auto-launched Flow Flow with the label Digital Lending–India: Assess Party Profile Risk Category |
| Check if all the party identity verification and party screening summary records associated with the applicant are in completed status. Check if the result of all the party identity verification steps is accepted and the screening decision of the party screening summary is Clear. | ||||
| Check if the credit score, employment industry and employment type in Party Profile record are populated. | ||||
| Risk Assessment | Approved | No transition criteria | Update the stage of the applicant to Approved. | Manual Task No reference artifact |
| Risk Assessment | Approved | No transition criteria | Update the stage of the applicant to Approved. | Manual Task No reference artifact |
| Risk Assessment | On Hold | Risk category is not high for the party profile risk record that’s associated with the party profile record. | No transition plan | No step needed for this transition No reference artifact |
| On Hold | Rejected | No transition criteria | No transition plan | No step needed for this transition No reference artifact |
| On Hold | Document Validation | No transition criteria | Assign the documents verification tasks to your mid-office agents to manually verify the uploaded documents. | Manual Task No reference artifact |
| On Hold | Risk Assessment | Check if all the party identity verification and party screening summary records associated with the applicant are in completed status. Check if the result of all the party identity verification steps is accepted and the screening decision of the party screening summary is Clear. | Initiate risk assessment based on the applicant’s data. | Auto-launched Flow Flow with the label Digital Lending–India: Assess Party Profile Risk Category |
| Check if the credit score, employment industry and employment type in the party profile record are populated. | ||||
| On Hold | Approved | No transition criteria | No transition plan | No step needed for this transition No reference artifact |
- Create a Stage Management Configuration for Applicant Stages
Use integration definitions, prebuilt flows, Omniscripts, and Stage Management to set up an efficient process to manage the stages of an applicant record in a loan origination workflow.
