Q: What is an Approval Workflow
A: This feature lets you establish multi-level approval processes for payments originating from your accounts. You can assign users to a list of predefined signatory groups (A,B,C), set different payment value thresholds, and define which combination of groups must approve payments within each threshold. This ensures payments receive the appropriate level of scrutiny based on their size.
Key Features:
Configurable Thresholds: Set specific payment limits (now: EUR; future: in your account's core currency) that trigger approval requirements.
Approval Groups (A,B,C): Assign users to different groups.
Flexible Rules: Define complex approval logic, such as requiring one "A" signatory, or two "B" signatories, or an "A" and a "B" signatory, depending on the payment amount.
Dual Admin Control: All changes to the approval workflow configuration (groups, payments thresholds, admins) must be approved by a second administrator before taking effect, adding an extra layer of security.
Audit Trail: Maintain comprehensive logs of all configuration changes and approval actions for transparency and compliance.
Platform Access: Manage and use approvals via Ebury Online (EBO)
Q: Who can set up Approval Workflows:
A: Authorise users with "Manage permissions" permission can be eligible to be Administrators.
Q: I have the "Manage permissions" permission but I can't see the "Approval Workflows" tab. What's happening?
A: If multiple authorised users have "Manage permissions", the first user to access "Approval Workflows" automatically becomes the sole Admin. That admin is then responsible for adding other Admins as needed.
Q: What type of transactions can I create Approval Workflows for?
A: Currently approval workflows are only for payments. This includes payments initiated online from Payments, Convert & Pay, or adding a payment to Convert sections. Future plans include extending approval workflows to trades or potentially other transactions types, or total volume approvals.
Q: How many approval levels can I set up?
A: Up to five levels of approvals.
Q: How to Set Up and Use Payment Approval Workflows (Administrator Role Required)?
A:
Assign Users: Add the relevant users to each group.
Set Thresholds: Establish the payment value ranges.
Apply Rules: Assign the required group approval combinations to each threshold.
Save & Approve: Save your configuration changes for approval by another administrator (if any)
Q: How Payments are Approved?
A:
Submission: A user creates and submits the payment.
Routing: The system checks the payment amount against the active thresholds and identifies the required approvers based on the rules.
Approval: Designated approvers review the payment details and either approve or reject it.
Processing: Once all required approvals are obtained according to the rule, the payment proceeds.
Tracking: All users can track the status of the payments they have submitted or are required to approve. Administrators can access detailed audit logs for compliance purposes.
Q: How Enable Approval Workflows?
A: Ask you Relationship Manager or Client Servicing team.
Q: I have the old Approval System (N-eyes). How can I get the new one?
A:
Go to EBO and change the level of authorisations from N-eyes workflow to Simple.
Notify your Relationship Manager / Client Servicing team to enable Approval Workflows.
Once confirmed, go to Settings and click on "Approval Workflows" (only available if you have "Manage Permissions").
Q: Can I get notifications for pending approvals?
A: This version does not currently include notifications. It will be added in future releases.