As your business grows, you must tighten your company security internally to avoid internal fraud. 

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To help you do this, we’ve built an Approver-Initiator feature into your Kora dashboard to help you do this.

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With Approver-Initiator, businesses across Africa can implement a powerful two-step approval system for payouts, giving you unparalleled security and control over your finances on Kora.

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What exactly is Approver-Initiator?

Think of Approver-Initiator as an internal two-factor authentication (2FA) for your business payouts.

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It’s an optional, double-layered access control system that, once activated, splits the payout process into two distinct roles:

• An Initiator: A team member who can only request a payout.
• An Approver: A team member who must authorise the request before Kora processes the payment.
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You can configure them independently for the two types of payouts on your dashboard:

• Single payouts: For individual transactions.
• Bulk payouts: For processing multiple payments at once.
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How is it different from the standard process?

• Standard payouts: A team member with payout permissions can both initiate and complete it in one step. This is fast but relies on a single point of control.
• Approver-Initiator mode: This mode overrides standard permissions. An Initiator can only request a payout, and an Approver must authorise it, creating a mandatory two-person control system.

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Benefits of activating Approver-Initiator on your Kora dashboard

Choosing to use Approver-Initiator unlocks several key advantages for your business.

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Full control over payouts
Dictate exactly who can initiate and who can approve payments. This puts you in the driver's seat of your financial operations, ensuring every transaction is intentional.

Drastically reduce errors
A mandatory second review is the most effective way to catch typos in account numbers, incorrect payment amounts, or duplicate entries, saving you money and improving your overall efficiency.

Enhanced internal security
Ensure no single individual has complete power over payouts to protect your business from internal fraud or unauthorised fund movement.

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Clear accountability and auditing
Every payout has a digital trail, showing exactly who initiated the request and who approved it. This creates a clear audit trail for compliance and internal reviews.

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How to set up Approver-Initiator: A step-by-step guide

This guide provides a line-by-line walkthrough of activating and managing your new payout workflow. Remember, only the account owner can configure these settings.

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Activating your workflow for the first time (account owner)

If you've never used this feature before, your first step is to create the workflow.

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Log in to your dashboard and navigate to Settings in the main menu. On the Settings page,  click on the Approvals tab.

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You will see two main toggles: Single Dashboard Payout and Bulk Dashboard Payout. Decide which payout type you want to secure first and click the toggle to switch it on. A configuration window will appear. You will get a prompt to add your team members for the first time.

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Add your initiator(s): Search for and select the team member you want to give payout initiation rights to.

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Then, review the names and click Add Initiator(s). 

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‍Add your approver(s): After, you’ll receive a prompt to add the approvers, repeat the same step you took previously. Your approver could be a senior team member or even yourself. They’ll be responsible for approving payout requests.

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Once you have added at least one initiator and one approver, then enter the verification code sent to your email to confirm your setup. 

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The workflow for that payout type is now active! The members you added will now appear in the tables on the approvers page.

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Managing your payout workflow (account owner)

Once you've setup your workflow, this page becomes your control centre for managing permissions.

1. To add more people to your workflow, use the Add New Initiator and Add New Approver button.
2. Search for the team member by name.
3. Select the Role you want to assign them (e.g., initiator or approver).
4. Select the Product Type this role applies to (Single Payout or Bulk Payout).
5. Confirm to add them to the list. They will now appear in the corresponding table under the "Initiators" or "Approvers" accordion.
6. To temporarily disable the entire Approver-Initiator process for a payout type, simply use the main toggle switch. Toggling it off will revert to standard payout permissions without deleting your assigned roles. You can re-enable it at any time.

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How the Approver-Initiator payout works

Here’s what your team members will experience once the feature is active.

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1. The Initiator's action: A team member with the "Initiator" role logs in and creates a new payout as they normally would. 

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After they initiate the payout, they'll get a notification that the payment has been submitted to the approver for review and confirmation.

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2. Pending approval: After submission, instead of Kora processing the payout, we'll mark the status as "Awaiting Approval".

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3. The Approver's action: The designated Approver(s) will be notified. They can log in, navigate to the Payouts section to see the pending transaction.

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4. Final review: The approver reviews all the details. They will have two options: Approve the transaction to process the payment, or Decline it to cancel the request.

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5. Payout complete: Only after an Approver clicks Approve will Kora process the payout.

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Account owners always retain the ultimate authority. You can make direct "express payouts" that bypass this flow for urgent needs, giving you the perfect blend of team control and owner flexibility.

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Who is the Approver-Initiator feature for?

It’s available for every merchant on Kora and also for merchants who want to use Kora to accept payments across Africa. 

But Approver-Initiator is particularly useful for:

• Companies with separate financial duties
  If your operations team handles payment requests and your finance department authorises them, Approver-Initiator perfectly enforces this separation of duties.
  
  
• Growing startups & SMEs
  As you hire more staff and delegate financial responsibilities, you need to formalise controls and SOPs. Approver-Initiator provides you with an enterprise-grade security process that protects your growing business from costly mistakes. This way Yyour employees initiate, and you, as the owner, then approve.
  
  
• Organisations with high transaction volumes
  The more payouts you process, the higher the risk of an error slipping through. With Approver-Initiator, you catch inaccuracies before funds leave your account to prevent an avoidable loss.
  
  
• Fintechs & platforms managing client funds
  If you manage funds on behalf of others, Approver-Initiator helps you demonstrate that you have robust internal controls. This helps you build trust with your customers because they know you go to extreme lengths to protect their funds. 
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Approver-Initiator on Kora helps you eliminate errors, enhance security, and create clear accountability for your team's payouts. Try it on your Kora dashboard, and if you need any support, please reach out to us at support@korapay.com. 

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Log in to your dashboard to activate it today.