Approval workflows help organisations apply governance, review, and control to custody activity before an action is completed.
In BE Custody, approval workflows can be used to support multi-user review, transaction approval, governance changes, and other sensitive operational actions, depending on the organisation’s configuration.
What is an approval workflow?
An approval workflow is a defined process that determines who must review or approve an action before it can proceed.
Approval workflows may apply to actions such as:
- Transaction approval
- Address or withdrawal control changes
- User or role changes
- Policy or limit updates
- Governance requests
- Other sensitive custody workflows
The exact workflows available depend on the organisation’s BE Custody configuration and operational setup.
Why do organisations use approval workflows?
Approval workflows help organisations reduce operational risk by ensuring that sensitive actions are reviewed by authorised users before completion.
They can support:
- Segregation of duties
- Maker-checker controls
- Quorum approval
- Internal governance requirements
- Compliance and audit expectations
- Operational resilience
- Review of unusual or high-risk activity
How do approval workflows reduce risk?
Approval workflows reduce risk by requiring additional checks before an action is completed.
For example, an approval workflow can help ensure that:
- A transaction was created by an authorised user
- The destination address and network have been reviewed
- The asset and amount match the intended instruction
- The action is consistent with internal records
- Required approvals are collected before execution
- Sensitive changes are not made by a single user acting alone
Approval workflows do not remove the need for users to review actions carefully. Approvers remain responsible for checking the details before approving.
What should approvers check?
Before approving an action, check:
- The action is expected and authorised
- The requester or instruction is legitimate
- The wallet, asset, network, amount, or governance change is correct
- The destination address is correct, where applicable
- The action aligns with internal approvals, records, or tickets
- The request does not appear unusual, rushed, or inconsistent with normal activity
- Any required supporting information has been reviewed
Do not approve an action if any detail is unclear, unexpected, or inconsistent.
Can workflows differ by organisation?
Yes. Approval workflows may differ depending on the organisation’s governance model, service configuration, wallet setup, permissions, and internal operating procedures.
For example, one organisation may require multi-user approval for all withdrawals, while another may apply different approval requirements based on transaction type, value, wallet, or operational process.
What happens if an approval is not completed?
If the required approval is not completed, the action will not proceed.
Depending on the workflow and configuration, the request may remain pending, expire, be rejected, or require further action.
What should I do if a workflow looks wrong?
If an approval workflow does not match your organisation’s expected process, do not approve or proceed with the action.
Contact your organisation’s administrator or follow your internal escalation process. If further support is needed, contact Bitpanda Enterprise Custody Support through the approved support channel.
Do not include passwords, PINs, private keys, seed phrases, API keys, API secrets, or other sensitive authentication information in a support request.