Enhanced policy condition

The management of the policy conditions has been enhanced by using the rules setup. These rules enable you to manage the attributes and their values based on which the applications, parties, collaterals are fetched, and the defined policy conditions are applied to those. As a result, the banks or financial institutions can effectively monitor and manage the implementation of policy conditions for multiple parties and collaterals on an application. Using the rules, you can also define the resolution criteria of the policy conditions based on which any exceptions on the policy conditions are resolved automatically.

Now, the following capabilities are supported:

• Associate a type to a group of policy conditions - a Type field is added to the policy condition definition page to group the policy conditions

• Track policy condition status by type

• Configure rules for auto task resolution on the status of policy condition and the type of policy condition - a set of policy conditions needs to be satisfied to move ahead in the workflow.

  For example, all KYC due diligence and income verification exceptions need to be satisfied before moving to the Approval Stage. This can be achieved through configuring the Automated Task resolution criteria on the status of policy condition and the type of policy condition.

Use Enhanced Policy Condition

To use the enhanced policy condition, you need to enable the Use Enhanced Policy Condition flag.

Enable the Use Enhanced Policy Condition flag

Prerequisites

None.

Steps

To enable the enhanced policy condition functionality: 

1. Log in to your Salesforce account.

2. Go to  (App Launcher) > Q2 Originate.

3. Select  (Setup), and in the Quick Find box, search for Custom Settings.

4. Go to Org Parameters > Manage, select the Use Enhanced Policy Condition check box, and then select Save.

Configure Type Picklist

You can configure the options for the Type picklist based on the business requirements.

Prerequisites

None.

Steps

To configure the Type picklist:

1. Log in to your Salesforce account.

2. Select (Setup), and then go to Setup > Object Manager.

3. In the Quick Find box, search for Policy Condition and select it.

4. Go to Fields & Relationships, in the Quick Find box, search for Type and select it.

5. Scroll down to the Values section, and select New to add the options to the Type picklist.

Define Enhanced Policy Condition

Prerequisites

Before you proceed to define an enhanced policy condition, ensure that the following prerequisites are met:

• The Use Enhanced Policy Condition flag is enabled.

• The Type picklist is configured with the required options.

• Reason codes are configured.

Steps

To define an enhanced policy condition:

1. Log in to your Salesforce account.

2. Go to  (App Launcher) > Origination Configuration >  Policy Condition Definition.

3. On the page that appears, select New Policy Condition Definition.

4. On the Policy Condition Definition page, select New.

5. Provide the details as described in the following table, and then select Save:

   

   Field Name	Action and Information
   Object Type	Select the object type on which you want to define the policy condition with the following supported options: Application - to define policy conditions on an application. Application Collateral - to define policy conditions on collateral linked to the application.  Party - to define policy conditions for the party linked to the application.
   Description	Specify a description of the policy condition.
   Policy Condition Name	Specify a name for the policy condition to identify it.
   Active	Select this checkbox to have the policy condition as Active.
   Resolution Criteria Expression	Specify the resolution criteria expression based on which the criteria defined in the rule are executed. Note: Only AND and OR expressions can be used to define the resolution criteria.
   Enable Override	Select this check box to override the policy condition status if the policy condition criteria are not met. Sometimes an underwriter may need to override a policy condition status manually. Note: The lock icon on the policy condition specifies that you are not allowed to make changes to the status of the policy condition on an application.
   Enable Override with Approval	Select this check box to override the policy condition status with approval if the policy condition criteria are not met.
   Type	This field allows to select a type for the policy condition. Based on the value of this field, the policy conditions are grouped. When a particular type of policy condition is satisfied, the tasks associated with the policy conditions are completed.  You can configure the options for this field. The supported options are: KYC - all the KYC-related policy conditions can be grouped under the KYC type KYB - all the KYB-related policy conditions can be grouped under the KYB type Approval - all the Approval-related policy conditions can be grouped under the Approval type Drawdown
   Condition Type	Select an option from the Condition Type list to determine if the policy condition is a document-specific or a data-specific condition. The selection of the Condition Type is mandatory. The supported options are: Data Document
   Reason Code	Select the reason code that you want to associate with the policy condition. Note: If the policy condition status is changed to Exception and the application status is changed to Rejected, the reason codes associated with the policy condition are automatically assigned to the application.

Define Rules

Define a rule and the criteria to select the objects to which you want to apply the policy conditions.

Prerequisites

Before you proceed to define the rules, ensure that the following prerequisite is met: 

• The enhanced policy condition definition is configured.

Steps

To define the rules for the enhanced policy condition definition:

1. After configuring the enhanced policy condition definition, in the Rule Generation section, select Add New Rule.

   If no rule set is available for the selected policy condition while adding the rule, the following error is displayed:

   Error Message

   There is no Rule Set available for policy condition. Kindly create one Rule Set with name PolicyConditionGenerationConfig.

2. Provide the details as described in the following table, and then select Save:

   Field Name	Action and Information
   Rule name	Specify the name of the rule being defined.
   Object	Select the object type on which the defined rules are to be run.  The objects that satisfy the defined criteria in the rules are fetched, and the associated policy conditions are applied to those.

   In the Criteria Details section, provide the details as described in the following table, and then select  Save:

   

   Field Name	Action and Information
   Sequence	The sequence number of the defined criterion is associated with the rule.
   Related Object	The object type on which the rule is to be defined.
   Field Name	The field or attribute of the object that is being measured or evaluated through the evaluation rule.
   Lookup Object Field Name Second Level Lookup Field	The value of the lookup object selected in the Field Name field.
   Operator	Select the required operator to define value or the range of values for the field.
   Value	This value is evaluated or matched while defining the criteria.
   Evaluation Rule	Defines the order in which the defined criteria should be evaluated. In the case of multiple criteria, this can be achieved using the evaluation expression.  For example, 1 AND 2

Associate Policy Condition with a Product

You can associate the defined policy condition with a product by selecting New Policy Condition Product Association and specifying the product name.

Define Policy Condition Resolution Criteria

Policy condition resolution criteria are the criteria that determine if an application satisfies the policy condition or results in a policy exception. This automates the process of checking if the policy conditions are already complied with and raises exceptions where the criteria are not met. 

Prerequisites

Before you proceed to define the policy condition resolution criteria, ensure that the following prerequisites are met: 

• The Policy Condition Definition is configured.

• The rules are defined. 

• The Document Definition needs to be pre-configured to define the policy condition resolution criteria on Document.

Steps

To define the policy condition resolution criteria for the configured policy condition definition and defined rules:

1. In the Policy Condition Resolution Criteria section, select New Resolution Criteria.

2. Provide the details as described in the following table, and then select Save:

   Field	Action and Information	Applicable To
   Sequence	Specify the Sequence (serial) number of the task. This number is used while defining the evaluation expression involving multiple criteria.
   Related Object	Select the Object for the Policy Condition Definition. Note: For Condition Type = Document, this is auto-populated with Document Category.
   Field Name	Specify the object's Field Name to define the task criteria. Note: For Condition Type = Document, this is auto-populated with Document Category Name.
   Document Definition	Select the name of the document definition based on which the policy condition is to be satisfied. For example, if address proof is required, select PAN CARD. Note: The document definition needs to be pre-configured to define the policy condition resolution criteria on Document.	Condition Type = Document
   Operator	This field is auto-populated.	Condition Type = Document
   Status	If the status of the document is Approved, the policy condition is satisfied.	Condition Type = Document
   Matching Type	Select the required operators to define values or the range of values for the fields.  The operators available are  <, >, <=, >=, ==, !=, BETWEEN, CONTAINS, DOES NOT CONTAIN, IN, NOT IN, STARTS WITH, ENDS WITH	Condition Type = Data
   Matching Value	The value is used in defining the resolution criteria for the defined rule.	Condition Type = Data

Enable History Tracking

This feature of policy conditions allows you to select the fields that you want to track on the policy condition history-related list. Whenever a user modifies any of the fields selected on the Policy Condition Field History page, the old and new field values, along with the date, time, nature of the change, and user making the change, are added to the history-related list. 

Prerequisites

None.

Steps

To enable the tracking of history:

1. Log in to your Salesforce account.

2. Go to  (App Launcher) > Q2 Origination.

3. Select  (Setup), go to Object Manager > Policy Condition, and then select Fields & Relationships.

4. Select Set History Tracking as illustrated in the following image: 

   

5. Select the fields to be displayed in the Audit Log and then select Save:

   

Policy Condition Rule Result Logging

The logging of rule result related to policy conditions enables the user to track the changes happening in policy conditions over a period of time.

To enable this policy conditions, see Defining rule result configuration