Payments SmartCast Wrong Routing Numbers Mean Trouble for Payers and Payees
Jun 5, 2025
Join industry experts Ron Miller, Sr. Product Manager, Mehdi Gudarzi, Director of Market Planning, and Mark Dixon, Senior Consultant at Nacha, as they unveil crucial insights on payment processing. They emphasize the dire consequences of using outdated routing numbers, including heightened risks of transaction failures and compliance violations. Mark highlights NACHA rules while Mehdi discusses the challenges of stale data in today's fast-paced payment landscape. Ron advocates for keeping routing data current with daily updates for smoother operations.
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Product Manager's Day Is Customer-Focused
- Ron Miller describes his daily product-manager routine of solving customer problems and scanning industry trends.
- He emphasizes customer conversations to anticipate future needs and build solutions.
Routing Numbers Are The ACH Address
- Routing transit numbers are the ACH address for destination banks and must be correct to avoid misrouted or failed payments.
- A wrong routing number can cause rejections, incorrect payments, reversals, and serious customer harm like missed wages or cut utilities.
Fintech Routing Reassignments Create Risk
- Fintech partnerships and routing reassignments can create routing environments that lack proper intake or processing.
- Transactions may land in queues with no handlers, increasing failed or orphaned payments.