Provide the Lending Company with an option to verify the Customer's phone number. Such a verification can be enabled in the system configuration if SMS integration is enabled.
If the functionality is enabled, an SMS code is sent to the phone number provided by the Customer. To finalize the verification the Customer must enter the verification code on the Customer's Portal.
Step-by-Step Flow. Customer.
The customer gets an SMS with a code where they are also requested to enter the code into the message in the Customer's Portal.
When the Customer opens the portal, they will see the message with a place for the verification code.
If the Customer is ready to confirm, it is enought to enter the code and click the “Verify” button.
The default SMS Code Expiry Period is 5 minutes. The SMS Code Expiry Period is hardcoded.
After three unsuccessful attempts borrower will be Locked.The Send code button will generate a new SMS for the Customer. The number of SMS that can be sent is defined in the web configuration.
They could also close the message. In this case, a reminder will be displayed in the Customer’s portal.
Back-Office View
The Back-Office Users are also notified that the phone number verification is required. The status will be changed to “Phone verification”
For loans that are expecting approval a message similar to the one displayed for the Customer is displayed. The Back-Office User can contact the customer and assist them with the phone verification.