Create Decision

To complete the communications channel between lenders and Funding Options, we have the decisions endpoint. As suggested in the name, it's where you inform us of any funding_decision you've made about the customer's application.

You'll be able to send us any offer or quote you'd like displayed to the customer, keep us updated of the applications progress, and let us know when a customer has not been suitable for funding and why.

While it's not always clear about the exact reason a customer may not have been funded. We are looking to collect as much information as you care share for the overall decision in order to improve our lead quality.
Therefore, with every application rejection, we ask that you help us categorise the best high level reason for the decision from our list of available options.

We have four main areas within our decision payload which we'll cover in detail.

funding_decision
drawdown_detail
offer
quote

But firstly, I'll talk a little about some other important fields in the payload.

external_reference - This field gives us your reference to the application, that may come from your CRM. Wherever the source, this reference will be what we use when talking to you about an application.
application_id - This is an internal reference to the application, it's discouraged to quote this in any verbal communication, unless you have used it as your own external_reference.
redirect_url - In some instances you'll need to redirect the customer to your portal in order to complete an application. The value in this field will only be presented to the customer when a quote or offer is also provided.
broker_url - In another scenario, you may need a broker to be aware of the application through a portal, the broker may also be assisting the customer with their application. This link will always be visible to the team.

Funding Decision

This is a nested object that has details regarding the overall credit decision.

{
  "funding_decision": {
    "issued": "2021-09-27T12:32:56.541Z",
    "expires": "2021-09-27T12:32:56.541Z",
    "state": "declined",
    "application_status": "rejected",
    "decline_category": "poor_company_credit_score",
    "decline_description": "Did not meet threshold for lending"
  },
  "external_reference": "ef24bfadd8a126b082e3a29afa927bba",
  "application_id": "95f072e4-3717-4472-8fdf-8a1836efb5e9"
}

Above is a complete example of a rejected application.

issued - The date when the current decision was made.
expires - A date when the current decision will expire. If unknown a reasonable suggestion should be made in the future.
state - This is the over decision on issuing credit, this should be set to pending by default.
application_status - This informs us how the application itself is progressing. For example the state could be pending but the application_status could go through a number of states as the application progresses to credit approval.
decline_category - This will be the high level category which best fits the reason for a declined state.
decline_description - Optionally, any free text to support the above.

{
  "funding_decision": {
    "issued": "2021-09-27T12:32:56.541Z",
    "expires": "2021-10-01T12:32:56.541Z",
    "state": "pending",
    "application_status": "waiting_for_customer",
  },
  "external_reference": "ef24bfadd8a126b082e3a29afa927bba",
  "application_id": "95f072e4-3717-4472-8fdf-8a1836efb5e9"
}

Above is a complete example of a pending application.

Drawdown Detail

Within the funding_decision we also have a nested drawdown_detail which is only to be completed once the
application state is approved and the application_status is drawndown. We use this application_status to indicate when a credit has been approved and the customer has received funding.

{
  "funding_decision": {
    "issued": "2021-09-27T12:32:56.541Z",
    "expires": "2021-10-01T12:32:56.541Z",
    "state": "approved",
    "application_status": "drawndown",
    "drawdown_detail": {
      "id": "b14d91678ea8e8af",
      "funded_amount": 2000,
      "total_payable": 2200,
      "commission_percent": 0.05
    }
  },
  "external_reference": "ef24bfadd8a126b082e3a29afa927bba",
  "application_id": "95f072e4-3717-4472-8fdf-8a1836efb5e9"
}

Above is a complete example or a approved application which has had a drawdown

id- A unique reference to the drawdown.
funded_amount - The final value the customer was funded.
total_payable - The total value to be repaid by the customer.
commission_percent - A value between 0 and 1 representing the percentage i.e. 0.1 for 10%.

Offer and Quote

Both offer and quote share the same fields, so we'll first go over each of them.

id - A unique identifier for the quote or offer.
expires - The date which the offer of quote will no longer be valid.
min/max_credit - These two fields are used to provide the amount you believe you can offer the customer, they are to be kept the same for if you don't offer a range.
rate_min/max - Similar to the above, it's the range of your finance rate, this is to be used in tandem with the next two fields.
rate_type - A enum representing the type of rate your min and max values represent.
rate_frequency - An enum of the different frequencies, for example days, months and weeks.
term_length - This is the loan term which should be used in tandem with the below field.
term_frequency - An enum that mirrors the rate_frequency.
currency - This should be a ISO 4217 currency code, we currently only supports GBP.

{
  "funding_decision": {
  "issued": "2021-09-01T11:16:46",
  "expires": "2021-10-01T11:16:46",
  "state": "approved",
  "application_status": "credit_approved"
  },
  "offer": {
    "term_frequency": "month",
    "term_length": 36,
    "id": "b015a411d8034581595ada51a526248c",
    "expires": "2021-10-10T11:16:46",
    "min_credit": 12000,
    "max_credit": 12000,
    "currency": "GBP",
    "rate_min": 0.03,
    "rate_max": 0.05,
    "rate_type": "apr",
    "rate_frequency": "year"
  },
  "external_reference": "ef24bfadd8a126b082e3a29afa927bba",
  "application_id": "95f072e4-3717-4472-8fdf-8a1836efb5e9",
  "redirect_url": "https://lender-website.example.org/login?lead=ef24bfadd8a126b082e3a29afa927bba",
}

Above is a complete example of an application that has had credit_approved and an offer issued.

{
  "funding_decision": {
  "issued": "2021-09-01T11:16:46",
  "expires": "2021-10-01T11:16:46",
  "state": "pending",
  "application_status": "waiting_for_customer"
  },
  "quote": {
    "term_frequency": "month",
    "term_length": 36,
    "id": "ef24bfadd8a126b082e3a29afa927bba",
    "expires": "2021-10-10T11:16:46",
    "min_credit": 2000,
    "max_credit": 2000,
    "currency": "GBP",
    "rate_min": 0.03,
    "rate_max": 0.05,
    "rate_type": "apr",
    "rate_frequency": "year"
    },
  "external_reference": "ef24bfadd8a126b082e3a29afa927bba",
  "application_id": "95f072e4-3717-4472-8fdf-8a1836efb5e9"
}

Similar to the offer, here is a complete example of an application which is pending but a quote has been issued.