For banks (specifically, ODFIs) LexAlign automates the commercial customer security and compliance audits for ACH, Remote Deposit Capture and Wires in a way that empowers customer security and compliance at scale, prevents fraud, protects the bank and its officers from fraud-related liability, and demonstrates the risk management required by FFIEC guidance, federal regulations, and Nacha Rules. Founded by a banking attorney to solve a systemic gap, LexAlign is a first-of-its-kind solution that uses a mathematical model to make it feasible to do risk management in line with the letter of the law.

Benefits of being a Nacha Preferred Partner:

LexAlign enables banks to manage the security and compliance of their commercial customers (including Originators) with the Nacha Rules and laws that apply based on the individual customer's online banking activities. The LexAlign system automatically creates an Audit Report with a Gap Analysis and Action Plan, as well as policies and procedures and an online remediation checklist. For example, in addition to a Nacha Rules assessment, LexAlign takes Originators through an operational security assessment and automatically creates for them a customized security program and policy in line with requirements under the Nacha Rules. LexAlign also takes the information it gathers from the customer, analyzes and scores it, and presents it to the bank via an online dashboard and reports. In this way, LexAlign empowers the bank to manage their customers’ remote operations risk in a proactive, targeted, scalable and effective way, and to demonstrate alignment with the Nacha Rules and law.

How LexAlign helps advance the ACH Network:

LexAlign facilitates a safer and growing ACH Network by providing its bank customers with an easy way to demonstrate both their own and their Originators’ compliance with the Nacha Rules and applicable laws. Those banks can proactively manage their customers’ vulnerability to costly mistakes and fraud. They can also use LexAlign to inform their customers of relevant Nacha Rules changes, and (soon) to provide required notices and obtain acknowledgements.

To learn more about LexAlign, read the announcement or visit LexAlign.com.