The multi-day process of entering the bank account information, waiting for a deposit to post, then logging back in to verify the account is over.
Yardi has integrated Finicity to deliver instant verification of bank account information for online applicant and resident payments. This integration allows a more seamless experience, and it is enabled for both applicants and residents. Basically, the applicant/resident logs into their bank through a secure portal and that verifies the account. Note that banks that do not have an online platform would not be supported. These would likely be small, local, credit unions/banks.
- If an applicant’s bank is not supported: They will need to pay with a credit card or debit card
- If a resident’s bank is not supported: They can exhaust the 3 Finicity attempts and then add their bank manually. At that point it will revert to the multi-day process of a small deposit with a verification.
Here is what it looks like from their side:
