Limitations and constraints
The Manual Add Bank is an archaic process. The US requirements to add a bank are Type of account, Routing and Account number. About 97% of our customers add a Checking Account versus a Savings Account, so we default to a Checking Account to make the flow simpler.
To help people to find their account and routing numbers, we provide a check graphic in a popup. Today, however, fewer people have checks to reference. Moreover, the confirmation process adds days and kills a flow if a bank is added during a payment. Different countries have different combinations of data points required — not all are routing and account numbers, so use of check images and a step-by-step process doesn't scale globally. Additionally, in some countries, we can't immediately verify an account number — a customer may add a bank without knowing until later that it failed.
This Manual Add Bank flow is a ongoing project. We are continuously expanding to more countries to enable customers to add their bank account natively. However, as previously mentioned, different countries have different requirements. This created a lot of little business problems that needed a big team effort to solve. I worked closely with the PM for this project to come up with scalable solutions, and, along with our team of engineers, tried to find ways to incorporate a template-based form to minimize custom-written code.
We’ve already launched in a number of countries where our solution has proven to work successfully. Customer acquisition has increased, and we are enabling people to manage their money more securely and effectively.