Case Study: AgVend cut ACH fund-failure notification time 75% with Finix
Key results
The challenge
AgVend, an agriculture-technology software platform, relied on a payments setup that used micro-deposits to validate bank accounts and was slow to surface funding failures. Notifications of failed ACH funding could take up to 12 days, delaying resolution for agricultural retailers and their customers.
The solution
AgVend migrated to Finix's processor and integrated Finix's API, allowing its customers to add new bank accounts and process ACH without creating micro-deposits to validate accounts.
“Since we've migrated to Finix's processor, we're being notified about funding failures faster than ever! On average, we are notified within three days, which is significantly better than the previous 12 days.”
EREli RosenbergCo-Founder & CPO, AgVend
The results, in context
After switching to Finix, AgVend's fund-failure notification time improved 75%, dropping from 12 days to an average of 3 days, while online ACH payments increased 25%. Customers were able to connect bank accounts and make payments the same day.