Manage Application and Account Holder

Once an application is approved by the IFI, the fusion system creates an account holder. This article walks through the different ways a fintech can manage an application and account holder using Fusion APIs.

Duplicate Application

Irrespective of the number of fintechs the customer is signing up with, as per the regulations, there will be only one account holder entity with the respective IFI. This is tracked against the phone number, i.e. one phone number - one account holder with the IFI. Hence, there can be instances when upon calling the ‘/applications/newIndividualApplication’ endpoint, a message indicating that the ‘Account holder already exists’ might be responded with. This indicates that an account already exists with the IFI against the provided contact number. In such cases, the authority to approve the application lies solely with the IFI. IFI configures the matching criteria and approves or rejects the application accordingly.

Get Application Details

When an Application for a new Account Holder is created, a corresponding applicationID(unique identifier) is generated. Fintech can use the applicationID to get details of the application. The response displays Application/Applicant details and the current status of the Application.

Update Application

Add section

Sometimes an applicant may not complete the application in one shot. For example, at a given stage the applicant is only carrying their ID proof but do not yet have the address proof. In such cases, you can add sections to the application before you mark the sourcing ‘DATA_CAPTURE’ stage as complete.

Section is also a free flowing json that can be defined however the fintech wants but would eventually be verified using one of the schema validators of the application which is setup by the Issuer.

Update Section

Fintechs can also update a section of the application, in case any erroneous information has been provided using the update section API.

Mark Data Capture complete

This API is used to mark the data capture stage of application complete. This API indicates that the details that were to be collected from the applicant have been collected. Now as part of the next stage, Enrichment, details from third party services can be added.

Additional APIs can be exposed to the Fintech, subject to the Issuer’s approval. Fintech can subscribe to the ‘Account Holder Created’ event to know when the application gets approved.

Get Account Holder Details

There are two ways to fetch details for an Account Holder— using Account Holder ID or Vectors.

Using Account Holder ID

If you have Account Holder’s ID (individualID), use the /accountHolders API to fetch their details.

Input parameters

ifiID: Required. Unique identifier of the IFI.
accountHolderID: Required. Unique identifier of the Account Holder. Same as individualID

Using Vector

Vectors are unique identifiers, like phone and email, used to identify an Account Holder. Use the /individualByVector API and pass the Account Holder’s Vector as path parameter to fetch their details.