Software applications that require payments functionality often can benefit from adding the ACH payment rail. That's especially true for applications that have a subscription or recurring payments component. Thus the application's management or stakeholders will look to various ACH Providers for discussing requirements and finding a solution that meets their needs.
In some use cases the application serves a vertical market base of organizational users. A SaaS will develop an application that serves other businesses or organizations in managing their customer base or application users. In use cases like this, the on-boarding process is an important aspect of the ACH integration solution.
Many times the SaaS organization prefers that the initial gathering of client data for the on-boarding process takes place on their website or within their mobile app. This is one area where friction can be reduced and making the process more of a white label experience. Prospective organizations don't have to leave the SaaS' website in order to initiate the on-boarding experience. Moreover, many times the SaaS will have much of the initial data on the prospective using organization to pass on to those who will be responsible for reviewing underwriting data and KYC procedures.
In some cases the ideal solution is for the ACH processing partner to supply the SaaS an API that not only allows for integration of the ACH payments functionality, but also for the ability to present forms that collect and transmit that data to those who make the underwriting approval determinations. Within the SaaS' application, prospective using organizations can collect company information, ACH debit or credit transaction amounts, officer information and whatever else is determined to be required for the on-boarding process.
Once an organization is approved for processing ACH transactions, the on-boarding process isn't finished. There will need to be API credentials entered in to the integrated SaaS application in order for the newly approved client to begin originating ACH transactions. In some cases the SaaS organization has built their offering to where the client is responsible for entering those API keys, but there can be an alternate method that reduces the time to go live. If the ACH processing integration partner is capable, the on-boarding process can automate API key delivery to the SaaS, where they then enter the credentials for the client to go live.
The automated API key delivery reduces another friction point as it relates to time spent on the client's side with time required to begin utilizing the benefits of the ACH rail.
The on-boarding process in general can take on many faces, including ACH Payment Facilitation. However, ACH facilitation is generally reserved for low risk sectors and generally requires substantial volume and a worthy outlook for further adoption.
We at Agile Payments have been facilitating ACH integration needs to software application clients of all sizes for 20 years. Contact us and let us know what your requirements are.