Approving & Rejecting Applications

How to finalize Applications.

Overview

Once an Application is fully processed, the last step is to assign a final status of either Approved or Rejected. These are standard statuses within the DigiFi platform that will exist for every Product.

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You Can Add Other Final Statuses

Some lenders prefer to use final statuses other than Approved and Rejected. While we recommend using these two standard statuses to maximize your ability to take advantage of the built-in features of the system, it is easy to create additional final statuses with your preferred names which you can configure to not appear in the Application board view with the other in-process statuses.


Approve An Application

To approve an Application:

  • Navigate to the detailed Application page.
  • Click the Change Status.
  • Select Approve Application.

You will be prompted to confirm this, so that you don't accidentally approve an Application. Once you've confirmed, the application's status will be updated to approved.


Reject an Application

To reject an Application:

  • Navigate to the detailed Application page.
  • Click the Change Status.
  • Select Reject Application.
  • Choose Decline Reason.

You will be prompted to confirm this so that you don't accidentally reject an Application. You can also provide one or more decline reasons, which will be saved for regulatory reasons and future reference.

Once you've confirmed, the Application will be immediately rejected.

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Track Decline Reasons

Company administrators can set up decline reason options in Product Configuration to let your team track granular reasons why Applications were rejected.