In some specific type of product financing such as hand-set financing, after an order is placed using Web/Retail store, Loan accounts are to be created in pending status. This is required especially if the device ordered by a customer is not readily available and needs to be procured from the inventory by placing an internal order/request.

Figure 18-4 Pending Account Creation

Description of "Figure 18-4 Pending Account Creation"

During Account On-Boarding and API conversion process of such accounts, if there is a condition added on to the account as ACCOUNT ACTIVATION ON HOLD, OFSLL creates those accounts in PENDING status and does not allow to post ACTIVE transaction. However, you can post Monetary and Non-Monetary transactions listed below to update Customer, Contract and Asset fields. For more information on these transactions, refer to Appendix : Transaction Parameters chapter.

Subsequently, when the product is available at the inventory for shipping, system allows to post a Call Activity to remove the ACCOUNT ACTIVATION ON HOLD condition. This account can be later activated during the processing of batch job TXNACT_BJ_100_01 in SET-AAI batch job set and an Active transaction is posted with Contract Date as the first transaction on account.

Such accounts in PENDING status can also be moved to VOID status if requested by Customer or if the Credit Risk Team has detected /anticipated any fraudulent activity.

Following Non-Monetary transactions can be Posted on accounts in PENDING status: