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Release (#19673) - October 16, 2024 at 10:42 AM EDT

  • Updated
    Ticket Description
     

    Upcoming Changes to the Business Account Opening Flow

    What is changing?

    We are removing the Significant Party role from the Business Account Opening flow. This change will not impact in-progress applications or users' ability to apply for accounts on behalf of a business. The process for completing an application is not changing.

    Changes are expected on 10/21/2024 in UAT and PROD on 10/22/2024.

    Why?

    Over the past year, MANTL has improved the business application flow to allow existing Authorized Signers on business accounts to apply for new accounts. The Authorized Signer role aligns more closely with how financial institutions and their customers understand business account opening permissions. Since everyone with the Significant Party role also holds the Authorized Signer role, the Significant Party designation is redundant.

    To learn more about the Applicant role on business accounts, click here.

    To simplify the business application process, MANTL has decided to remove the Significant Party terminology from applications and use only Authorized Signer language.

     

    Console Experience:

    Review & Sign Experience:
    PROD-12363

    MANTL will no longer save "Unknown" as a business type when importing information from the core. This caused issues because "Unknown" isn't an option as a business type in MANTL. The field would be locked as a core synced field and cause application errors. Now, the business type must be filled out like any other missing required information in either Self-Serve or MANTL Console.

     

    Change Log