Customer Evaluation Lifecycle

The following flow should help you to understand the customer evaluation lifecycle. Please note that the steps are ordered sequentially, as they happen in the process. You can also view this guide in a diagram format.

Please note that this documentation is only for the Public API. The customers managed via Waldo Dashboard have different evaluation lifecycles.

1. Trigger an evaluation.

2. Choose the evaluation type.

3. Understand the validation characteristics.

4. Understand the validation result.

Trigger an evaluation

There are two methods to trigger an evaluation:

1. Customer onboarding

   • this includes implicitly a KYC evaluation

2. Manually triggered

   • this is available after the customer onboarding, on demand

Choose the right evaluation

1. KYC (required)

   • this includes two analysis: identity verification and watchlist verification

2. ExpressKYC (optional)

   • this includes the same analysis as the KYC, but the process is different. Read Understand the validation result section to find the differences.

3. Fraud (optional)

   • this is a customer risk score determined from the provided customer information and existing information

Understand the validation characteristics

The validation result has three characteristics and are correlated with the evaluation type you choose.

1. KYC outcome - available in all evaluations, this is the result of identity check + watchlist check.

2. ExpressKYC outcome - available when include it in the evaluation options, this is the result of identity check only. The ExpressKYC is a best effort result, meaning that if the evaluation can be done fast, it will return the outcome, otherwise it will have the success property set to false and you should wait for the webhooks notifications to receive the full evaluation result.

3. Fraud score - executed if you have selected to include it in the evaluation. Will return a value of 0 if you don't request it.

4. Status - this can be determined in three different ways:

   • manually: you manually approve/reject the customer

   • KYC outcome: will always be "review" if you don't include the fraud score in the evaluation request

   • fraud score: can set the status to approved, rejected, or review, depending on the fraud score

The end goal of the customer status is to handle the customer access to your services. If the status is set to "approved", then your system is expected to allow the customer to access your services. If the status is set to "rejected", then the effect should be the opposite of approved. If the status is set to "review", then you should review the customer and decide how to proceed.

Understand the validation result

The validation result depends on the evaluation type you choose and the evaluation result. Let's breakdown the possible validation results, including the webhook responses.

A. Customer onboarding method

1. You choose KYC only.

   • request stage:

     • kyc outcome: pending

     • fraud score: 0

     • status: pending

     • expressKYC outcome: n/a

   • webhooks stage:

     • kyc outcome: passed or review

     • fraud score: 0

     • status: review

     • expressKYC outcome: n/a

2. You include ExpressKYC in the onboarding options, but not the fraud score.

   • request stage:

     • kyc outcome: passed, review, pending`

     • fraud score: 0

     • status: pending

     • expressKYC outcome: passed, review. It can be missing if the ExpressKYC is not executed in a short amount of time - in which case, the expressKYC success is set to false.

   • webhooks stage:

     • kyc outcome: passed or review

     • fraud score: 0

     • status: review

     • expressKYC outcome: n/a

3. You include both the ExpressKYC and the fraud score in the onboarding options.

   • request stage:

     • kyc outcome: passed, review, pending`

     • fraud score: 0

     • status: pending

     • expressKYC: passed, review. It can be missing if the ExpressKYC is not executed in a short amount of time - in which case, the expressKYC success is set to false.

   • webhooks stage:

     • kyc outome: passed or review

     • fraud score: 0.82

     • status: approved, rejected, or review - the status is consolidated by combining the KYC + fraud score

     • expressKYC: n/a

4. You include only the fraud score in the onboarding options.

   • request stage:

     • kyc outcome: pending

     • fraud score: 0

     • status: pending

     • expressKYC: n/a

   • webhooks stage:

     • kyc outcome: passed or review

     • fraud score: 0.82

     • status: approved, rejected, or review - the status is consolidated by combining the KYC + fraud score

     • expressKYC: n/a

B. Manually triggered evaluation method - kyc outome: passed or review -> previously obtained - fraud score: 0.92 -> new score - status: approved, rejected, or review -> previously obtained - expressKYC: n/a