Product Ideas Pitch Portal
| Product value score | 5 |
| Business Priority (Optional) | Conversion |
| Values | Public Service |
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State your hypothesis, tying your project back to the impact it might have.
Adding EFT validation would allow us to ask folks to re-enter account and routing numbers that were keyed in wrong in real time rather than waiting for the gift to get entered and then waiting the 3-7 days it takes for banks to actually decline the transaction. Minimizes back and forth with the donor and revenue loss. |
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Which metrics would you use to track the success of this project? We will use this as the foundation of our experiment design. (Optional)
EFT decline rate from web. |
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What problem are we trying to solve for our communities with this experiment? How might it help us better serve them?
EFTs are not validated at time of gift entry, rather the following day when they are processes and declines take days to be communicated back to us. |
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Lay out the potential project steps to the best of your ability, including key teams that would need to be consulted. This is your best knowledge of the systems, tools and lift that would be required.
EFT validation is an existing service we have, but would need to be integrated into our forms and tested. |
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| Effort (scale of 1-lowest to 4-highest) | 2 |
| Urgency (scale of 1-lowest to 4-highest) | 2 |
| Business Impact (scale of 1-lowest to 4-highest) | 2 |
| Cost (scale of 1-lowest to 4-highest) | -1 |
| Alignment with Values (scale of 1-lowest to 4-highest) | 2 |
@Heather Young FYI - Vantiv has a solution for this that I'm hoping will be MUCH easier and more secure to implement. So I'm resurrecting this. Thinking early 2025?
cc @Margaux Maxwell for web product team prioritization
Lyons only recommends using their API server side, and will also not provide limited scope tokens. Which means the token we use, if compromised, would provide access to everything.
@Margaux Maxwell @Heather Young and I did a quick evaluation of this and it's not doable with the tools we currently have. Volume of this kind of issue is low, so we'd like to deprioritize it. How should I reflect that here.
https://apihelp.lyonsreg.com/?python#rtn
Lyons will determine if the routing number is currently active, and will return the routing and demographic information for the institution associated with the searched routing number.
Heather and Julie A to chat quickly with EFT validation vendor to assess viability of this.