Approval routing for account creation

Purpose

1.1. Automates the routing and approval process for new customer account creation in a public sector bank, ensuring regulatory compliance, error reduction, and timely onboarding.
1.2. Automator validates applicant KYC, triggers multi-level automated approval (branch manager, compliance, risk), centralizes documentation, and monitors SLAs for onboarding efficiency.
1.3. Automating eliminates paper routing, expedites new account approval paths, reduces fraud through automated checks, and provides auditable approval trails for regulators.

Trigger Conditions

2.1. Automated trigger on submission of a new account application form via physical branch or online portal.
2.2. Automator triggers upon document upload (KYC, address proof, etc.) or a status update flagged by CRM/core banking.
2.3. Automatedly initiates approval when fraud or risk systems flag a new application for escalation.

Platform Variants

3.1. Salesforce
• Feature/Setting: Flow Builder – automate approval process with entry criteria on Account object, sample: "When Stage = New & KYC Status = Pending, automate assignment to Compliance Queue."
3.2. Microsoft Power Automate
• Feature/Setting: Approvals Connector – automate multi-level approvals, sample: "On form submission, post adaptive card to compliance and manager teams for approval."
3.3. DocuSign API
• Feature/Setting: Envelope/Recipient Workflow – automate signature collection and approval routing for onboarding docs.
3.4. ServiceNow
• Feature/Setting: Flow Designer – automate approval workflows, integration with Identity Management for exception escalation.
3.5. AWS Step Functions
• Feature/Setting: Definition Workflow – automate logic for approval states, integrate Lambda for KYC automation.
3.6. Google Apps Script
• Feature/Setting: Trigger on Google Form submit – automate emailing approval request to department heads.
3.7. SAP Workflow Service
• Feature/Setting: Automate multi-stage account approval by configuring workflow logic based on user roles.
3.8. IBM BPM
• Feature/Setting: Approval Process Model – automate routing by applicant risk profile and auto-escalate on delays.
3.9. Oracle Integration Cloud
• Feature/Setting: Process Automation – automate user task assignment based on account type and compliance rules.
3.10. Zoho Creator
• Feature/Setting: Approvals Workflow – automate multistage user-based routing for account application.
3.11. Pega Platform
• Feature/Setting: Case Lifecycle Management – automate routing to different approvers based on account risk assessment.
3.12. Workato
• Feature/Setting: Automate action chain – connect HRMS, CRM, and email for end-to-end approval routing.
3.13. Slack API
• Feature/Setting: Workflow Builder – automate notifications and collect approvals using buttons in public sector bank workspace.
3.14. Trello
• Feature/Setting: Butler Automation – auto-move KYC cards to ‘Awaiting Approval’ list and notify managers for review.
3.15. Monday.com
• Feature/Setting: Automations – automate tasks to route approval requests based on field (branch, account type).
3.16. Asana
• Feature/Setting: Rules – automate creation of tasks for each multi-level approval step in customer onboarding.
3.17. JIRA Service Management
• Feature/Setting: Workflow Designer – automate transition of account onboarding issue tickets through required approvers.
3.18. Adobe Sign
• Feature/Setting: Automated send for approval signature post-KYC review.
3.19. GSuite (Google Workspace)
• Feature/Setting: Google Sheets + Gmail – automate email approval request on new row for account creation data.
3.20. Freshservice
• Feature/Setting: Workflow Automator – preconfigure auto-approval policies and escalation matrix for public sector banking.
3.21. RESTful API Gateway
• Feature/Setting: Expose automated endpoints for branch front-end apps to push new accounts into approval routing.
3.22. Twilio
• Feature/Setting: SMS API – automate sending approval/rejection notifications to customers.

Benefits

4.1. Automates reduction of manual processing time for new account approvals.
4.2. Automatedly minimizes compliance risk, secures approval trail, and improves auditability.
4.3. Automator ensures accountability with automated escalation if SLAs are breached.
4.4. Automating decreases fraud risk through integrated checks and system-driven validation.
4.5. Provides rapid, consistent onboarding with automated status updates to applicants and internal teams.