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Decision

Provides a decison on the application

Overview

A request to this endpoint performs a hard check on the applicant's credit history and provides a decision. NewDay will make a complete search of the applicant's credit report and each such check is recorded on the applicant's report.

Prerequisites

Send a PATCH request to the Application endpoint and mention the third party provided device risk profiling ID (verificationId parameter) of the applicant. This helps in the decision making process because NewDay can analyse the risk involved with extending credit to the applicant. Further information on this can be found in fraud profiling.

Requesting a decision on application

post
/applications/{id}/decision
executes the apply workflow while performing a hard check on applicant's credit report. You provide the application identifier id and we provide with the following response under the state parameter:
  1. 1
    sign The applicant is accepted for NewDay credit. One of the following substates will be returned:

    - refer A credit decision has been requested and the applicant has been referred for the headline rate.

    The headline rate is the market rate for the NewDay product. These privileges are entirely optional and are not always allowed to the applicant, even when they are accepted or referred for NewDay credit.


    - referDownsell A credit Decision has been requested and the applicant has been referred for the downsell rate.

    The downsell rate is higher than the headline rate and provided to applicants that have passed our eligibility criteria, but did not qualify for the headline rate.


    - referInstantSpend A credit decision has been requested and the applicant has been referred for the headline rate and is eligible for instant spend.

    - referDownsellInstantSpend A credit decision has been requested and the applicant has been referred for the downsell rate and is eligible for instant spend.

    - downsell A credit decision has been requested and the applicant has been approved for the downsell rate.

    - instantSpend A credit decision has been requested and the applicant has been approved for the headline rate and is eligible for instant spend.

    - downsellInstantSpend A credit decision has been requested and the applicant has been approved for the downsell rate and is eligible for instant spend.

    In certain cases, the applicant might be allowed to instantly avail the NewDay credit facility; in this scenario, a temporary credit card number is provided.


    - If no substate is returned a credit decision has been requested and the applicant has been approved for the headline rate.

    Next steps: Applicant continues to the sign stage. Tip: Display application approved decision message.

    The following snippet explains a succesful application where the applicant is allowed to proceed with signing legal agreements:

    Javascript

    1200 OK
2    Content-Type: application/json 
3
4    {
5      customerRef: "3da446ac",
6      state: "sign",
7      subState: "instantSpend",
8      apr: "some-value",
9      creditLimit: "some-value",
10      documents: [ "{documentType1}", "{documentTypeN}" ]
11    }
  2. 2
    docRequired The applicant is required to provide some more documents, one of the following substates will be returned:

    - declVulnCust The applicant has triggered the Vulnerable Customer Credit policy.

    - proofAddr The applicant is required to provide documents for Proof of Address.

    - proofId The applicant is required to provide documents for Proof of Identity.

    - proofIdAddr The applicant is required to provide documents for Proof of Identity and Address.

    NewDay will email applicant with next steps. Tip: Display acknowledgement page with decision pending message.

  3. 3
    decline The applicant is refused to avail credit and the application ends, this will leave a footprint on the applicants credit file. An applicant might be rejected from applying for NewDay credit due to one of the following reasons:

    - adverseBureau A credit decision has been requested and the applicant has been declined for adverse credit reasons.

    - affordability The applicant's income to expense ratio fails the NewDay's affordability requirement.

    - aml The applicant credit history check has failed the Anti-Money Laundering (AML) review.

    - catchall A credit decision has been requested and the applicant has been declined. Where we do not have a mapped substate, catchall will be used.

    - dupeApplication The applicant already has an exisiting application for the product.

    - eligibility The applicant does not meet the eligibility requirements.

    - existingCust The applicant is already an existing customer of the product.

    - otherBureau The applicant has been declined for other bureau reasons, such as deceased or high recent searches etc.

    - score The bureau provided credit score has failed the NewDay's requirements.

    - If no substate is returned the applicant's credit application is complete, and the applicant has been declined.

    This is the end of the applicant's journey. The substate indicates the reason for the decline decision & can be used to drive customer on-screen copy to give the applicant more specific information.

  4. 4
    appCancelled Underwriter has cancelled the application, normally due to a duplicate application or request of the applicant.

    This is the end of the applicant's journey.

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