Terminology

Journey: A Journey is a decision configuration that allows you to run multiple workflows or steps.

Journey Application: The act of an entity or group of entities traversing the configured journey graph.

For example, your business wants to offer a credit product that requires two logical steps configured as Workflows within Alloy - the first being an “Onboarding” workflow, which does traditional KYC and fraud checks, and a second “Underwriting” workflow which does a credit pull and runs through your credit policy to assign a credit limit and APR.

Your customer’s application can be in only one “step” (or “node”) of the application at a given time and is advanced based on the configured outcomes (or “edges”) of your workflows or manual application review.

Journey Applications will help simplify your use of Alloy. They are the agent of record of what state each of your end-users is in.

Journey Application Status: A representation of the current state of the entity or group of entities traveling through the logic of the journey; the state of the Journey Application as a whole.

Entity Application: A token assigned to a unique combination of an entity and a specific application. Since entities can be part of multiple applications, and journey applications can contain multiple entities, we assign a unique token to this combination.

Entity Application Status: The state of an individual entity within a journey application.

Entity Application Outcome: The final outcome for an individual Entity Application (not necessarily for the entire Journey Application if it contains more than one entity). This outcome is represented on the Journey builder by a larger terminal node at the end of its path. This terminal node will be either a green "Approved" node or a red "Denied" node (see "Terminal Nodes" below).

Workflow Nodes: These nodes include your policy logic in the form of input attributes, data services, tags, output attributes, etc.

Document Verification Nodes: If a customer’s identification documents need to be verified during an application, you can utilize document verification within a Journey.

Action Nodes: There may be times when you want to account for an event that is not directly handled by the Alloy system, such as extending an offer to a customer or making a request to an external service. Action nodes can be used for this purpose.

Terminal Nodes: These are the larger nodes which appear at the end of a path that an entity could travel along in a given Journey. They represent the Entity Application Outcome. If there is more than one entity in an application, the terminal node (Entity Application outcome) will not necessarily be the same as the Journey Application outcome. This is due to reconciliation logic.

Branches: Branches generally represent different pathways for different types of entities that you would like to run through your Journey which could allow for different outcomes. For instance, you may have a “Persons” branch and a “Businesses” branch. Each branch would have its own way of reaching an Approved or Denied outcome. Branches also allow for different pathways to Reconciliation based on Outcomes.

Reconciliation Logic: This is the high-level logic that determines the outcome of the Journey Application as a whole, based on the outcome of each individual entity (each Entity Application outcome) in that Application. If none of the cases in the Reconciliation logic are fulfilled, the Application will land in an "Application Review".