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RFI Management

Request for information is a method for NIUM’s compliance team to gather further information with regards to a given payout instruction. The additional information helps the team to take necessary decision upon the payout in question.

Pain Points to address:​

  1. The clients need to respond to the RFI request by gathering the information from the end remitter and the same could be time-taking and manual in execution
  2. The process of intimating about the required additional information to the end Remitter could be time taking which might lead to delays in the payout processing
  3. Also, the time-taken by the clients servicing team to upload the required documentation on NIUM’s portal could further amplify the delays

Solution Objective​

With the above mentioned pain points, NIUM has devised a solution with the following objectives:

  1. Reduce the time to intimate the end Remitter, via clients, about the required documentation for Compliance approval
  2. Enable the clients to submit the required information without logging into the NIUM Client Portal

Methodology​

  1. Direct integration with the client's systems in order to notify the client teams about RFI in real-time
  2. API integration with the client systems to allow direct submission of RFI details

Offline Process of RFI Processing​

Online / Integrated solution for RFI Processing​

Basic Steps:

  1. NIUM's compliance team gets a payout and raises an RFI against the same
  2. The client gets the notification about the RFI via the realtime callback notification (webhook)
  3. Client can check the RFI requirements via the API Get RFI details via the payment ID
  4. The client shall notify the end Reme about the required RFI and shall wait for the information
  5. Once the information is received, the client can submit the same via the RFI submission API

API Flow​