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Nacha creates broadly adopted payment and financial messaging rules and standards through consensus-led governance, international collaboration, and innovative development practices. We continually advance the ubiquitous ACH Network and engage diverse stakeholders to accelerate a digital future of global financial services interoperability.

Nacha Announces 2012 Payments System Awards Recipients

BALTIMORE, Md., May 1, 2012 – Nacha — The Electronic Payments Association today announced the recipients of its 2012 Payments System Awards. The winners will be recognized during the Payments System Awards Luncheon, sponsored by TD Bank, at PAYMENTS 2012.  PAYMENTS 2012, Nacha’s annual conference for the payments industry, is being held now through May 2 at the Baltimore Convention Center.

The Payments System Awards recognize outstanding individuals and organizations for their superior leadership, innovation, and excellence in the development, implementation, or advancement of electronic payments. This year’s awards recipients include:

The 2012 Kevin O’Brien ACH Quality Award
ACH Alert, LLC
The 2012 Nacha PayItGreen Award
Cigna Global Health Benefits
The 2012 George Mitchell Payments System Excellence Award
J. Steven Stone, AAP, PNC Bank

“The recipients of the 2012 Payments System Awards are pioneers in advancing the use of electronic payments, and innovators in their use of the ACH Network,” said Nacha President and CEO Janet O. Estep. “It is because of their leadership and vision that the ACH Network remains an efficient, secure, and reliable payments network. We are pleased to recognize their contributions to the industry by honoring them with these distinguished awards.”

Nacha celebrates the achievements of these three award winners for outstanding contributions to the industry.

The 2012 Kevin O’Brien ACH Quality Award:
ACH Alert, LLC

The Kevin O’Brien ACH Quality Award, named in honor of the late Kevin O’Brien, Nacha’s chairperson from 1999 to 2000, recognizes best practices in ACH participants’ efforts to maintain or improve the quality of ACH services and/or the integrity and reliability of the ACH Network.

This year’s award honors ACH Alert, LLC for the design innovation demonstrated by its automated, client-driven solution to enable financial institutions and their business clients to more effectively prevent, detect, and react to fraud. The solution improves the customer experience, streamlines operational processes and rules compliance, and reduces operating costs. One community bank using the solution reported that within a two-month period, two of its Originators were able to avert two corporate account takeover attempts totaling $500,000. Within a six-month period, the business clients of three other institutions were able to turn back approximately $10,000,000 in unauthorized ACH debits, without the intervention of their financial institutions. A regional bank that has implemented the service for nearly 1,700 of its business clients has been able to stop nearly $500,000 in potential fraud in the last year.

The 2012 Nacha PayItGreen Award:
Cigna Global Health Benefits

The Nacha PayItGreen Award honors individual or organizational leadership, vision, and innovation in the education and promotion of electronic payments, statements, and billing to reduce paper’s impact on the environment.

This year’s award honors Cigna Global Health Benefits, a business unit of Cigna Corporation, for its “Go Green” efforts to enable customers to opt out of paper-based Explanation of Benefits (EOB) statements and go all-electronic. This new service builds on existing e-billing and electronic payment capabilities, including submitting claims online and receiving claim reimbursements using Direct Deposit via ACH.

Following extensive planning and coordination between multiple internal and external partners, as well as training staff and launching customer communications, Cigna Global Health Benefits introduced this option to customers via its self-service Web portal, Cigna Envoy, in January 2012. Since its launch, nearly all of Cigna's customers working in approximately 205 countries and jurisdictions around the globe who have accessed the new feature have opted-out of paper EOBs.

In alignment with this initiative, Cigna has also worked to make the EOBs easier for customers to understand while remaining health care reform-compliant. The company is not only reducing its own environmental footprint with green EOBs, but is also demonstrating its commitment to listening to and acting on customer feedback.

The 2012 George Mitchell Payments System Excellence Award:
J. Steven Stone, AAP, PNC Bank

The George Mitchell Award, named after former vice-chair of the Board of Governors of the Federal Reserve George Mitchell and early payments proponent of electronic payments, honors an individual or organization that has shown superior leadership in the development, implementation, or advancement of electronic payments.

This year’s award recipient is J. Steven Stone from PNC Bank. Stone has been instrumental in shaping the ACH Network for more than 30 years. His contributions include extensive work on the Nacha Operating Rules and such innovative payment leadership as cross-border ACH and corporate trade payments. As a past member of the Nacha Board of Directors and various task forces and committees and as the current chair of the Healthcare Payments Product Group, Stone has made a lasting mark on the payments industry. He continues to provide leadership on critical payments issues at both the local and national level.

About PAYMENTS 2012
PAYMENTS 2012, taking place April 29 – May 2 at the Baltimore Convention Center in Baltimore, MD, features more than 135 educational sessions and workshops with renowned speakers from financial institutions, companies, government agencies, legal and regulatory bodies, consulting and research firms, service providers, and more. Sessions are organized along eight tracks — Automated Clearing House (ACH), card solutions, corporate payment solutions, global focus, healthcare opportunities, mobile banking and payments, risk & compliance, and payments biz – to address the topics of pivotal importance to payments professionals. Conference threads weave hot topics across tracks and emphasize the most significant developments in legal/regulatory, corporate account takeover, remote deposit capture/remotely created checks, community banks/small business/local government opportunities, and Nacha Operating Rules and initiatives. In addition, a dynamic exhibit of nearly 100 industry leaders features today’s top products and services.

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