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Onboard an Account
- A Highnote Account
- Access to the GraphQL API, API Explorer, or Dashboard
Card Products are an umbrella for Applications, Financial Accounts, Payment Cards or Bank Accounts, and Transactions.
In the live environment, Products are setup by the Highnote Team.
In the test environment, Highnote offers several self-serve product verticals. Your vertical has implications for identity verification, spend controls, and how cards may be used. Commercial products onboard businesses while consumer products onboard individuals.
The quickest way to create a new product is from the Dashboard, but you can also create a product from the API.
Once your card product is created, you can create the individual or business account holder that matches your product. Account holders belong to your organization and may be shared across multiple products in the future.
If you already store information about your account holders, you can use your existing records to pre-populate forms in your onboarding flow. It’s recommended to have your account holder confirm your stored information is correct to ensure the best chance at application approval.
For extra security, you can generate a Client Token and tokenize account holder information on your client before passing the data to Highnote.
In this example, we'll onboard a business account holder for a commercial card product.
With your account holder created, we will use the PRIMARY_AUTHORIZED_PERSON_ID and CARD_PRODUCT_ID to open an application against the card product. When an application is opened, checks are ran including the Customer Identification Program (CIP), as well as Customer Due Diligence (CDD) to establish and confirm the identity of the Account Holder, and where applicable Enhanced Due Diligence (EDD) may need to be performed.
During this step, you're required to present your compliance agreements and must record the timestamp that your account holder consented to the agreements.
Once you create the application, it will be reviewed in an asynchronous process. When building your experience, it’s recommended to show your account holder a view that lets them know their application is being reviewed.
You can monitor the status of the Application by querying for it using the ID returned in the create call.
After an Application is submitted, the Application applicationState.status returned will be:
PENDING, IN_REVIEW, DENIED, or APPROVED
| Status | Description |
|---|---|
PENDING | The Application has been received and the system is running automated verifications. |
IN_REVIEW | In some cases, an Application may be flagged for manual review because fraud is suspected or the information provided appears incorrect. A Highnote agent is reviewing the Application to determine a decision or if additional information is required from the Account Holder. |
DENIED | The Application has failed one or more policies (e.g. fraudulent application information provided). A Payment Card cannot be issued to this Account Holder. Customer notification of the denial and denial reason may be required. |
APPROVED | The Application has been approved. You may now issue a Financial Account against the Application. |
With an application opened and approved, we can now work to issue our first payment card.