Learn how to send Privacy Consent and Credit Guide documents directly to your clients via FinanceVault for acknowledgement in a few clicks. This guide also shows you how to check document status and verify compliance.
Rest assured, this process 100% meets AFG compliance requirements. Click here for more details.
Contents
Prerequisites
This feature is limited to standard Privacy Consent and Credit Guides. Customised versions of those documents are not supported.
To use this feature, every team member needs Suite360 access. If the broker has Suite360 but the currently logged-in team member does not, that team member will be unable to generate a Credit Guide on behalf of the broker.
Video walkthrough
Learn how to use this feature.
Generating a request
The first step is to send a new prospect a credit guide / privacy request via FinanceVault. (A manual method is available but not recommended.)
At the time of writing, these requirements (send the Credit Guide and get client acknowledgement of Privacy Consent) apply to new clients and not current clients. That could change in the future.
Open a new lead/deal in full view mode.
Go to the top of the page and click the Get Started button.
A popup displays. Click the Generate and send via FinanceVault card. The FinanceVault page displays.
The same popup displays if you click the green GO TO PORTAL button.
Sending the Credit Guide and Privacy Consent via FinanceVault
BrokerEngine creates two document requests that are ready to send to the client: Privacy Consent and Credit Guide.
Optionally, you can add additional files to your document request.
When you're ready to send, click the Review Request button. On the next page, click the Publish and Send to Client button.
The client's view
Your client receives an email message with an invitation to open their FinanceVault portal. On the portal page, the client is asked to:
read and accept the Privacy Consent form
view the Credit Guide, and
upload any documents you have requested (optional)
Accepting the privacy request
After clicking the View Request button, the system will prompt the client to complete two-factor authentication via their mobile device.
Once authenticated, the FinanceVault portal loads. The portal page displays a privacy document and an I Agree button. The client must click the I Agree button to acknowledge receipt.
Viewing the documents
After clicking I Agree, the workflow takes the client to their FinanceVault portal. Here, the client can access and download the Privacy Consent and Credit Guide and other document requests (if added). The client clicks the I'm Done button to complete this task.
Receiving consent
After the client agrees to the Privacy Consent and Credit Guide, BrokerEngine displays a FinanceVault notification bell on the lead or deal card.
Click the notification bell to open FinanceVault. On the next page, BrokerEngine displays the two documents. A green checkmark indicates compliance requirements for the Privacy Consent and Credit Guide have been met. Optionally, you can download either document.
Understanding document status
When working with clients, it's important to understand what the different Privacy Consent and Credit Guide document statuses mean. Knowing these terms helps your team track document transmission progress, ensuring crucial materials reach your clients and compliance is achieved.
To view document status, go to Applicant Details in the left sidebar of a deal or lead.
Not Sent - The transmission or delivery of the Privacy Consent and Credit Guide documents hasn't happened yet.
Pending - Implies the documents have been sent and are available but haven't been accessed by the recipient.
Completed - An important milestone, the documents were received, viewed, and acknowledged by your client through the client portal.
Understanding activity feed notes
When Privacy Consent and Credit Guide documents are generated and transmitted through the client portal and acknowledged by the client, the Activity Feed on the right hand sidebar of a lead/deal automatically logs details.
The feed shows the client's information alongside the exact date and time of these actions. These recorded notes create an audit trail, revealing how and when the documents were produced and capturing important specifics linked to the client's engagement with the portal.
Credit Guide Generated
Privacy Consent And Credit Guide Sent
Privacy Consent Approved
Role in compliance audits
These recorded notes play a pivotal role during compliance audits. They are tangible evidence of document generation, transmission, acknowledgment, and recipient details. Compliance teams rely on these notes to ensure adherence to regulations.
Deal History Report
All these recorded notes are also captured in the Deal History Report. This report is a comprehensive repository of actions undertaken in the Privacy Consent and Credit Guide processes. It's furnished to AFG (Australian Finance Group) upon request, providing a compliance trail.
Generating a Deal History Report
Open a new lead/deal in full view mode.
Click the Reports tab.
Click the Deals folder and scroll down to 09. Deal History Report.
Select the PDF or Word icon. The system automatically downloads the report in the selected format.
Sample report with Compliance section.
Alternative: manually generating compliance documents
In some instances, users might want to manually generate Privacy Consent and Credit Guides. There are two manual options: a generic document and a personalised document containing the client's name.
Option 1 - generating a generic document
Choose this option to download a blank document.
Go to the side menu and click ... More.
Click Settings in the popup.
Click Integrations.
Click Suite360. The folder expands.
Click the Download icon. The system automatically downloads a blank Credit Guide & Privacy Consent file.
Option 2 - generating a personalised document
Choose this option to download a document with the client's name. There are two different ways to accomplish the same result.
Using the modal
Open a new lead/deal in full view mode.
Go to the top of the page and click the Get Started button.
In the popup, click Download a copy. The system automatically downloads a Privacy Consent and Credit Guide. This document includes the client's name for personalised identification.
Using the More dropdown menu
Open a new lead/deal in full view mode.
Go to the top of the page and click the More dropdown menu.
Select Generate Credit Guide & Privacy Consent.
Choose the Download the Personalised Document option. The system automatically downloads a Privacy Consent & Credit Guide with the client's name on it.
These steps provide a straightforward process for obtaining a generic and personalised Privacy Consent and Credit Guide, ensuring flexibility based on specific client requirements. The next step is to upload signed documents.
Uploading signed documents
In cases where a broker has sent documents to the client through their preferred email service (e.g. Gmail or Outlook), and the client completes these documents outside BrokerEngine, the broker can manually upload the signed documents to the client page.
Open a new lead/deal in full view mode. Go to the top of the page and click the Not Required link. A popup displays.
Click the They have already been issued and signed link.
Go to the Applicant Details box on the client page. Click the upload icon next to the Privacy Consent and Credit Guide line. A popup displays.
Upload (or drag) the signed documents to the popup.
Click the Upload button to finish the process.
Handling multiple clients
If multiple clients are associated with the deal, return to the client page. Go back to the Not Required link and repeat the steps for the remaining clients by accessing their details.
By following these steps, brokers can efficiently upload signed documents for each client associated with the deal, ensuring all necessary paperwork is correctly stored within BrokerEngine.