On-demand banking using APIs

Transcription

1 On-demand banking using APIs Steven Shafer Treasury Management Sales Consultant 14 March Wells Fargo Bank, N.A. All rights reserved. For public use.

2 Are you trying to Have an insurance adjuster pay claims from the field Give your customer service rep instant access to payment status or check image 1

3 Are you trying to Send the status of a payment to your customer consumer through your mobile app Refund a customer directly to her debit card 2

4 Check the status of a transaction in order to perform reconciliation Are you trying to Verify account status before initiating an electronic payment 3

5 Agenda On-demand banking APIs the Hype vs. the Reality Why would you need on-demand banking? Four areas of opportunity for APIs Case study 4

6 What is on-demand banking? Originating payments on your schedule Receiving banking data when you need it Using bank services within your processes Embedding bank products within your systems, applications, websites 5

7 When would you benefit from On-demand Banking? If you want to. Real Time banking: when your customer wants to.. Use your own systems & user interface (UI) Initiate faster payments or Receive banking info At any time of the day, whenever you need 6

8 Going Mobile On-demand banking Consumers expect anytime, anywhere and Power any area of your environment any device access to you. Your back-office ERP system AP systems Your call center Your mobile app Your website Your kiosks Your point-of-sale system 7

9 Real On-demand Time banking: banking: How embedding it works services where you want TM Services 8

10 Four potential areas Optimize treasury operations Mitigate risk Improve customer service Enhance customer experience 9

11 Examples Your payment system initiates a single same-day ACH payment to pay a terminated employee same day to comply with state law Your insurance company mobile app validates the recipient s bank account number before electronic disbursement of policyholder claim Online lodging marketplace provides images of cleared checks to vendors via their own vendor website Food delivery service allows drivers to accept electronic payments via the company s mobile app 10

12 Introducing the Wells Fargo Gateway 11

13 Wells Fargo Gateway: your menu of banking APIs Your agents Your Mobile App Your ERP Account Validation Push to Card ACH Payment and Status Account Validation Wire Payment and Status Internet Image Retrieval APIs Push to Card Your TWS Account Balance and Transaction Detail Account Balance Transaction Detail Wells Fargo Micro-services Your GL Your Customer Service system B2P via Zelle ERP Integration

14 Real Time banking: available services On-demand banking services available now ACH Payment & Status Originate and track status of ACH payments Wires Payment & Status Originate and track status of Wire payments Transaction Detail Account Balance Obtain transaction detail at any time of the day Obtain account balance information any time of the day Account Validation Service (AVS) Instantly verify account status and ownership before initiating or accepting payments Image Retrieval Account Validation Logic Box Service Account Validation Service that provides simple yes/no validation of account information Push to Card ***NEW Instantly retrieve up to seven years of check images Push funds directly to a consumers debit card within minutes B2P via Zelle ***Coming in 2018 Send payments based on consumer or mobile phone at any time 13

15 Batch versus API Batch file transmissions Multiple payments batched together Uses service like Payment Manager transmission or ACH Direct Origination Works best for batch systems or payment types (e.g., ACH 1-2 day settlement, check printing) Normally used for large files like payroll or weekly payment files Acknowledgements and confirmations won t come until file/batch are processed Services delivered as APIs Single-threaded request and response Would normally be used for single payments/actions Can still handle a large volume of payments, but each payment would require a message to be sent Best for more real-time payment types, like Wire transfer or sameday ACH payments Acknowledgements/Confirmations come back immediately for each payment sent via API 14

16 Case studies

17 National Fast Service Restaurant Fintech success story Company initiatives Improve customer acquisition Sustain scalable product Provide a valuable customer experience Increase growth Run fast Stay agile Service -first Status Challenge Efficient cash positioning & account reconciliation Integrated solutions Increased visibility Workflow automation Solution: Information Reporting API Real-time information for our entire back office to reconcile items and address support queries Capability of pushing this information directly to user through application 16

18 Account Balance: Retrieve balances real time Account balance automation is built in customer s ERP Acme Company ERP 3 1 Home Dashboard My Dashboard YTD Earnings Optimization Account Balance Summary Inventory Refresh Balances button calls Account Balance API 2018 Wells Fargo Bank, N.A. All rights reserved. For public use. 17

19 Transaction Detail: Search and view real time Account transaction search built into company s customer service system XYZZ Customer Service System Home Account Details Reports Search Logout Account XXXXXX3245 Search for 10/02/2017 Detailed Transaction Search Account Activity Add Accounts Search by date Add To 10/09/2017 Transaction Search Results Search Results for Account : XXXXXX3245 Number of transactions: 37 From: 10/02/2017 to 10/09/2017 Range: $500 to $5,000 Total Debits: $15, Total Credits: $10, < Previous Page Transaction Type Print Export Save Next Page > Result Column Options (Select at least one column) x x x x x Amount Credit/Debit Bank Ref# Posting Date Transaction Type Amount Credit/Debit Check/Customer Reference Bank Ref# Posting Date Expanded Details Apply Expanded Details Amount From $500 To $5,000 1 Adjustment $ Credit /02/ Lockbox $ Credit /02/2017 More More Check or Customer Reference Numbers ie: , ACH $2, Debit /02/ Investment $5, Debit /03/2017 More More Select Transaction Types Edit Debits Credits X X + Advanced Search Criteria 5 ACH $ Debit /03/2017 More Print Export Save Transaction Type: ACH Transaction Amount $2, Deposit $1, Credit /03/2017 More 7 ACH $2, Debit Fed/SWIFT Reference 10/03/2017 Completed More Date/Time PPPPP3XXXXYC /02/2017 O5:55 EST 9 Wire $ Credit Currency /04/2017 BAI Type More Code USD 195 Originator Customer Reference # XYZZ GPB 99/LL9999XX XXXXX A Information from Originator Monthly Fee Payment Close 2018 Wells Fargo Bank, N.A. All rights reserved. For public use. 18

20 Fintech Inc. Fintech success story Company initiatives Improve customer acquisition Sustain scalable product Provide a valuable customer experience Increase growth Run fast Stay agile Service -first Origination Challenge Gain advantage in a highly competitive industry Faster Payments Own customer experience Robust infrastructure Solution: ACH API Fintech s application triggers ACH prepped with prefilled value, type, beneficiary information, and date Take advantage of multiple batches throughout the day some potentially same-day ACH Remove steps created by human error (fat fingered, misinterpreted amounts, beneficiaries) 19

21 ACH: Easily send ACH any time ACH payment to vendor directly from company s payments platform Financial Exchange Payments Platform Home Reports Manage Account C&I Design Vendor C&I Design Contact Jack R Johnson 10:54 C&IDESIGN Customer History Payment Notes Welcome, Jack R. Johnson ACCOUNTS Bank Routing Number Account VIEW DETAIL Deposit Account *8347 Current $14, Available $14, History Details Payment Date 12/12/2017 TUESDAY, DECEMBER 12, 2017 Payment Amount $10, SUBMIT Transaction Deposit R-SAFE Transaction Insurance Deposit $ :44AM ACH Trace Number: $ Financial Exchange $10,000 FRIDAY, DECEMBER 1, :24AM Transaction Deposit CHECK 227 $ C&IDESIGN 2018 Wells Fargo Bank, N.A. All rights reserved. For public use. 20

22 ACH: Quickly search and retrieve status real time ACH status search built into company s mobile app 12:54 AMX_Enterprise ASSOCIATE PAYMENTS Logout Welcome, Cheryl Smith Status History Date Sent Status Amount ACH ACH ACH 12/12/17 12:50 pm 12/12/17 12:30pm 12/12/17 12:25pm Pending $2, Details Processed $ Details Processed $1, Details PAYMENT PROCESSED Amount: $1, Date/Time: 12/12/17 12:25 pm Bill Johnson Acct #: XXXXXX-5135 Bank Routing #: XXXX-XX Wells Fargo Bank, N.A. All rights reserved. For public use. 21

23 ACH: Quickly search and retrieve status real time ACH status search built into company s customer service system Customer Service System Home Account Details Reports Search Logout Search for ACH transaction Transaction Amount $ Currency USD Transaction Search Results Results found: 1 ACH Transaction Company Name XYZ Clothing Retailers.com 12/12/2017 Payment Tracking Number Payment Tracking Number: Company Name: XYZ Clothing Retailers.com Transaction Amount: $ Date: 12/12/ :10:43pm ACH Reference Number: Account Number: 0000XXX-XXXX8432 Cancel Print Send Cancel New Search + Advanced Search Criteria Exit 2018 Wells Fargo Bank, N.A. All rights reserved. For public use. 22

24 Other Examples

25 Account Validation: Validate accounts real time Company validates account status and ownership from their payments platform Acme Company Payments Platform Home Reports Manage Account Jackson Jane N Jackson Request Type Result Emerald Platinum Add-a-line Deal payment card change Approved < Previous 2 of 31 Next > Customer History Accounts Validation Service Notes Account XXXXXX-6375 RTN Date Validated 11/1/ :01:02 Validation tab was added Result 1 exception VIEW DETAIL Apr/Deny/Manual Recommend Approve AVS was added to decision logic 2018 Wells Fargo Bank, N.A. All rights reserved. For public use. 24

26 Account Validation: Seamlessly validate accounts Validate account status and ownership built into company s mobile app :48 10:48 10:44 R-SAFE Insurance Welcome, Claims Agent Process Claim R-SAFE Insurance Welcome, Jane Request accepted! Request accepted! Policy #: SMI Claim Ref #: R-SAFE Insurance Welcome, Jane Welcome, Jane Account information could not be verified. Account information could not be verified. Retry or call Retry or call for assistance. for assistance. Policy #: SMI Policy Period: 10/12/2017 to 10/12/2018 Claim Ref #: Policy #: SMI Policy Period: 10/12/2017 to 10/12/2018 Claim Ref #: Vehicle: 2016 Chevy Equinox Claim Details: Front end collision damage Claim Amount: $3, Jane Smith Bank routing number: Bank account number : Claim Amount: $3, Verified: 01/10/ :48:08 Vehicle: 2016 Chevy Equinox Claim Details: Front end collision damage Claim Amount: $3, Name on account: Jane Smith *Bank routing number *Bank account number Name on account: Jane Smith Bank routing number Cancel Home Cancel Retry Bank account number Cancel Submit Now Clicking Submit button invokes the AVS Logic Box API, resulting in either approval or refusal 2018 Wells Fargo Bank, N.A. All rights reserved. For public use. 25

27 Push to Card: Pay consumers real time any time Company pays consumer s debit card directly from their mobile app 10:44 R-SAFE Insurance Welcome, Claims Agent Auto Claim Policy #: SMI Policy Period: 10/12/2017 to 10/12/2018 Claim Ref #: Insured: Jane Smith Vehicle: 2016 Chevy Equinox Send/receive claim payments in near real time MYBANK Welcome, Jane Smith MYACCOUNTS Deposit Debit Card *4113 Current $10, Available $10, :54 History Payment confirmation Details Claim Approved Payment to Insured: $1, Debit Card: XXXX XXXX XXXX 4113 Exp Date: 08/2019 Amount: $1, Date/Time: Tuesday, December 12, :44 AM Claim Ref #: Debit Card: XXXX XXXX XXXX 4113 TUESDAY, DECEMBER 12, 2017 Transaction Deposit R-SAFE Transaction Insurance Deposit $ :44AM $ R-SAFE Insurance $1, :44AM FRIDAY, DECEMBER 1, 2017 $10, Transaction Deposit CHECK 227 $ Send Payment Now 2018 Wells Fargo Bank, N.A. All rights reserved. For public use. 26

28 Wires: Easily send wires any time Wire payments and approval built into company s ERP Financial Exchange ERP Home Reports Manage Account Daniel S. Jacobs G&H Development Group Account: Current Balance: $25,325, VIEW DETAIL Logout 10:54 G & H D e v e l o p m e n t G r o u p Transaction Wire Currency USD History Payment Notes Welcome, Justin Barry PAYMENT CONFIRMATION Wire Payment Submission Payment Memo $75, SC Tax Credits Requested by: Daniel S. Jacobs 12/28/17 10:50:22 AM Account: From: G&H Development Group To: SC Legislative Services SUBMIT Memo: SC Tax Credits Amount: $75, USD Cancel APPROVE G & H D e v e l o p m e n t G r o u p 2018 Wells Fargo Bank, N.A. All rights reserved. For public use. 27

29 Wires: Quickly search and retrieve status real time Wire status search built into company s ERP Global Wide Inc ERP Home Account Details Reports Search Logout Account XXXXXX9543 Wire Transaction Search Wire Transaction Status Search Results for Account : XXXXXX9543 Search for Payment ID Add Accounts Add Number of transactions: 12 From: 10/02/2017 to 10/09/2017 Range: $500 to $5,000 Total Debits: $20, Total Credits: 0 Print Export Save Search by date To 10/02/ /09/2017 Debit Amount From To $500 $5,000 Currency USD Wire Description ie: , < Previous Page Transaction Type Amount Next Page > Credit/Debit Fed Reference Number Posting Date 1 Wire $ Debit /02/ Wire $ Debit /02/ Wire $2, Debit /02/ Wire $5, Debit /03/2017 Expanded Details More More More More Select Transaction Types Edit Debits Credits X + Advanced Search Criteria 5 Wire $ Debit /03/2017 Transaction Type: Wire Transaction Amount $2, Wire $1, Debit /03/2017 More More 7 Wire $2, Fed Reference Debit Number /03/2017 Completed More Date/Time /02/2017 O5:55 EST Currency Customer More Reference # USD A Originator Global Wide Inc Print Export Save Information from Originator Monthly Fee Payment Close 2018 Wells Fargo Bank, N.A. All rights reserved. For public use. 28

30 B2P via Zelle : Pay consumers easily and securely Paying consumer s or mobile# from a company s mobile app R-SAFE Insurance Claim Detail Send money to the following address/mobile number: jane254smith@gmail.com 10:44 Welcome, Jane Hello, Jane: Our records indicate you have an outstanding payment owed to you in the amount of $3, Click here to verify mailing address and request check payment. NEW! You may also receive the payment electronically via your address/mobile number. Click here to learn more. R-Safe Insurance Payment R-SAFE Insurance Hello, Jane: R-Safe Insurance sent you money with Zelle Our records indicate you have an outstanding payment. R-Safe Insurance sent you the following claim funds transfer: Date: 10/09/2018 Amount: $3, Description: Claim# Payment Collision Damage This transfer will be deposited into your account xxxxxxxxxx9999 on 10/10/2018. jane254smith@gmail.com MYBANK logout Welcome, Jane Smith MYACCOUNTS Deposit Debit Card *4113 Current $10, Available $10, Details 10:54 History Please re-enter your address/mobile number jane254smith@gmail.com Terms and Conditions Cancel Submit Now 1 For more information, please call R-Safe Insurance customer service at Please do not reply to this automated . 3 WEDNESDAY, JANUARY 10, 2018 Transaction Deposit R-SAFE Insurance $3, Received 10:44AM 2018 Wells Fargo Bank, N.A. All rights reserved. For public use. 29

31 mage Retrieval: Request and view images in real time Image search and view is built in company s customer service platform Acme Company Customer Service Home Reports Manage Account Recent Views New Ticket #301 Apply macro Your Customer User Profile customer@yourcustomer.com Subject Customer wishes to verify check payment was received > Tickets from customer (3) > Click here to add notes Status Type Priority Group Payment Open Issue 2-Medium Receivables Payment type: Assignee Category Check: Deposit Name Payment Inquiry Date Start: Date End: 12/18/17 12/28/17 Retrieve Tags Check Payment Retrieved check image via Image Retrieval, copy ed to customer. Customer is ready to close ticket. Front Back Requester can see this comment Update ticket Submit Image Retrieval API 2018 Wells Fargo Bank, N.A. All rights reserved. For public use. 30

32 Thank you 31