Guide To Generating VOA And VOI Reports For Consumer With Connect Out Of Band Experience – Lending Industry

Guide Specific To The Lending Industry

PreRequisites: Read The Partner Quick Start Guide to understand how to access and authenticate to the Finicity API and Guide To Testing Within The Finicity API

Connect Overview

Finicity Connect is an embeddable HTML application that makes it easy for financial applications to integrate with Finicity’s suite of API’s. Applications will use Finicity Connect to allow their customers to connect their financial accounts. After the accounts are connected the partner application can generate reports on the account financial data for their customers to provide them the required service.

Finicity Connect allows a consumer to sign into their financial institution (FI) and permission Finicity to gather data from their accounts.  Finicity completely hosts Finicity Connect. This assures the partner does not have exposure to consumer credentials and authentication information.

Finicity Connect is also required for financial institutions that are secured through OAuth. Connect manages the instructions and proper redirection to the financial institution website. For more details on OAuth connections see our OAuth Connections Guide.

Finicity Connect can be integrated into your application in two different ways:

  1. A Redirected URL
  2. Directly Embedded Into the Application

This guide will describe in detail how to use Finicity Connect Out Of Band, how to manage and receive Finicity Connect events, and how to manage and receive report generation events.

Out Of Band Email Overview

The email directed flow is best suited to situations where the lender desires to trigger an out of band request to a customer and does not have the capabilities to send emails themselves. This is the service also used in the Finicity Reports service. An email is sent to the customer and gives them a connect link and they walk through the process of connecting their accounts and a report is generated at the end of the flow like a Connect Full experience would be.

Create Customer

First step in connecting a customer is creating a customer record in the Finicity API. A Finicity customer record represents your customer and is the parent record for all other financial data such as account data and transaction data.

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Create Consumer

In addition to creating a customer, to generate financial reports for a customer you must create a consumer record which is attached to that customer. The consumer record on creation will require all of the necessary customer data elements for the customer to be able to review and dispute any reports through the consumer portal.

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Set up email white labelling via DNS

In order to send white labelled emails, you MUST configure your DNS records so that our service can send emails on your behalf. Subdomains are not supported. You must set the following DNS entries:

TYPE HOST DATA
CNAME s1._domainkey. s1.domainkey.u5028633.wl134.sendgrid.net
CNAME s2._domainkey. s2.domainkey.u5028633.wl134.sendgrid.net
CNAME email-connect. u5028633.wl134.sendgrid.net
TXT finicity_partner_id:

In addition, please contact your account manager for whitelisting as part of the DNS setup.

Send Email Request (Backend)

You are now ready to initiate sending an email to the consumer. The email will have a Finicity Connect link that is specific to the customer, and is used to permission access to the FI and add accounts. The finicity connect link is called for a specific flow or use case (called a Connect “type”). For the lending industry use case you would call the specific type of report that you are wanting to generate for the customer, for example “voa” or “voi”. This will give the customer a list of financial management certified connections to choose from for that report type.

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(Optional) Configure Developer Console

Several of the fields in the request can be preset in your Finicity Developer console. To set these values, log in to Finicity. From the dashboard, click on “App Detail” for your desired application. You will see several fields such as “Name”, “Support Phone”, etcetera. Click on the “edit” button in the top right to bring up the edit page. On that page you can change the fields to their desired values and then click “Update Application”.

Once these values are configured, you can still override them on a per request basis.

Webhook Events For Report Generation

Upon the completion of the connect flow we will begin generating the report that was requested when the connect URL was generated. You will initially get a “started” event and then you will get a done event when the report is completed. To receive these events you will need to setup a listener service for the generate report events. Please see the technical articles below for instructions on setting up your listener service and for a full list of webhook events.

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Utilizing Connect Webhook Events

We know that while your customer is in the Finicity Connect flow, it is important to understand what they are doing and what their experience is like. To facilitate this we have provided web hook events that will be sent to the webhook URL you pass in the Generate Connect API call. For a detailed guide of the webhook events you will receive, see the webhooks details link below.

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Utilizing Analytics Systems For Connect

We support passing google or adobe analytics data into the calls as well for tracking. See the article for more details.

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