Use Finicity in ACH Prefill for Deposit Accounts

Date Available:

Beta 5/30, Prod 6/27

Which customers are impacted?:

Customers using Deposit Account products in Blend.

How to turn on:

This feature will be automatically enabled for all customers on the dates listed above.

Purpose of Update and Benefit:

The purpose of this update is to leverage Finicity (in replacement of Plaid) for the ACH Prefill feature as part of the account funding workflow in legacy deposit account opening implementations. This does not impact any Composable Origination Deposit Account products nor does this impact any product lines outside of Deposits.

Current Behavior:

On the Opening Deposit form, select the option to ‘Login to transfer from existing account’

A modal will pop-up leveraging the Plaid service to login to an existing financial institution using online banking credentials to assist in prefilling the account and routing number for the opening deposit. The Plaid based process is highlighted below:

Step 3: Enter Test Credentials

Username: user_good

Password: pass_good

Additional Test Credentials

Once an account has been selected in the Plaid workflow, the modal will close and the user is asked to confirm the amount they would like to transfer.

New Behavior:

A modal will pop-up leveraging the Finicity service to login to an existing financial institution using online banking credentials to assist in prefilling the account and routing number for the opening deposit. The Finicity-based process is highlighted below:

                                        Additional Test Creds for other scenarios

Once an account has been selected, the modal will close and the user is asked to confirm the amount they would like to transfer for each account they are opening.

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