The following is an example of Consent Artefact for monitoring a loan application. The FIU sends a ‘periodic’ Consent Request to the Account Aggregator, which in turn generates the Consent Artefact. The data principal (borrower) is not required to approve the Consent every time the lender (FIU) seeks access to the data during the ‘Consent Validity’ period.
Loan Monitoring Use Cases can de-risk the loan books of lenders as they can be proactive in engaging with the borrower when they see the economic signals of the borrower going down.
Consent Information
"ConsentDetail": {
"consentStart": "2020-01-06T11:39:57.153Z",
"consentExpiry": "2022-01-06T11:39:57.153Z",
"consentMode": "STORE",
"fetchType": "PERIODIC",
"consentTypes": [
“PROFILE, "SUMMARY", “TRANSACTIONS”
],
Identifier Section
"DataConsumer": {
"id": "DC1",
"type": "FIU"
},
"DataProvider": {
"id": "DP1",
"type": "FIP"
},
"Customer": {
"id": "customer_identifier@AA_identifier"
},
"Purpose": {
"code": "104",
"text": "To monitor a borrower’s accounts for loan collection, in case of overdue payments",
},
Data Section
"FIDataRange": {
"from": "2020-01-06T11:33:34.509Z",
"to": "2022-01-06T11:33:34.509Z"
},
"DataLife": {
"unit": "MONTH",
"value": 1
},
"Frequency": {
"unit": "MONTH",
"value": 5
},
Consent Digital Signature:
"consentDetailDigitalSignature": "aTRddfhasTY54HAH"