Banking Operations Must Have Exception Handling for Payments in Embedded Banking

Over the last year there has been growing pressure for Banks to own Program Management for their Embedded Banking programs.  However, not a lot of BaaS Providers responded with solutions to how Banking Operations will manage their Program Management responsibilities.

• ACH Returns
• ACH NOC Requests
• ACH Notification of Death
• ACH Dishonored Returns
• ACH Contested Dishonored Returns
• ACH/Wire/FedNow OFAC Exceptions
• Wire RFR
• Wire Drawdown Requests
• Account Dormancies and Reactivation
• Account Escheatment
• Contact Info Changes
• Manual Account Verification Requests
• Historical Transfer Requests
• Card Disputes
• Provisional Credits
• FedReturn for Check

Banking Cores today have robust Exception Handling capabilities, which are catered to Payment Processing and handling exception, which most BaaS Providers never expose to Banks, leaving Banks in the dark on how exceptions are being managed.

At Infinant, we recognized this pain point early on and built a robust Case Mangement ticketing system within our Administrative Console.  The Case Management tool is built for Banks, not for FinTechs, to manage Reg E, Account Dormancy and Escheatment, as well as more generic exceptions such as Contact info Changes.

We think like Bankers and put their needs ahead with features like additional documentation requests through our webhook notifications and Manual External Account Verification, because Plaid doesn’t 100% guarantee that the Bank’s customer will always be able to setup their external account without some manual intervention.  Case Management provides a full audit log of every interaction as well as Comments and Document upload capability from the console and through our Platform APIs for ease connectivity for the Bank’s FinTech Partners.

Infinant offers our Case Management Solution as part of our BaaS Platform as well as our Payment Hub, allowing Banking Operations to govern exception handling even if they are only a pass-through for payments.

To learn more about Case Management, Payment Hub or Embedded Banking Platform, reach out to sales@infinant.com