The compliance engine

Overview

The compliance engine within Arix verifies that a loan adheres to your AML/BSA processes and Credit & Underwriting policy. This allows CRB to demonstrate to a regulator how it provides oversight on each and every loan. As part of the implementation process, we code the rules, which are fine tuned during the testing phase of the implementation.

If a loan meets all the compliance rules, it passes. If it fails, the status changes automatically to ComplianceFailed.

Detailed reasons for rule failures are available via the LoanDetail API and we recommend that you monitor those failures proactively. CRB Operations will reach out to your Operations department when we need additional information to clear a rule failure.

Passed compliance

After Arix has verified that the loan is in compliance, it passes the loan to approval and then it gets funded.
Status: Passed Compliance

Compliance failed

After you download the collection of Arix APIs, you can use these steps in the sandbox to practice failing loans based on compliance violations. The call will show the loan in the status, ComplianceFailed.

Steps for checking the status of a loan:

Create a loan request.
Add documentation to the loan request.
Update details in the loan or update the loan funding info.
Click Send.
Wait a few minutes, and then get the loan details with that ID.
Scroll down to the section ComplianceRuleResultList and check the compliance responses.

Example

Compliance rule: Loan must be between $1,000 and $37,800 (inclusive)
Loan request: $500

The amount of the loan violates the rule and the loan fails. In the response message below, the Result shows False which indicates a compliance failure.

When a loan fails a compliance rule, the Operations team at CRB can see the failure and the related reason and communicate with you.