Six-Stage Transaction Lifecycle
Corporate Connect tracks six statuses: Pending — created by the initiating operator, awaiting dual authorization; Authorized — approved by the second operator, queued for processing; Processing — submitted to the payment network (Fedwire, ACH, SWIFT); Completed — settled and posted to the account; Rejected — failed validation, compliance screening, or insufficient funds; Returned — reversed after settlement (ACH returns, wire recalls). Each status transition records the timestamp, operator ID, IP address, and reason code. Rejected transactions include the specific failure reason — OFAC screening hit, duplicate detection, format error, or authorization timeout — enabling operators to correct and resubmit without starting from scratch.