Posted February, 17 2017The NACHA Challenge, a team competition — worth $25,000 in prize money — is designed to foster new ways to leverage Same Day ACH to create innovative solutions to improve efficiencies and added capabilities within the payment system. The NACHA Challenge is open to innovators, thinkers and practitioners from any entity, including corporates, academic institutions, nonprofits, think tanks, financial institutions, solution providers and others.
New technologies and business processes, and evolving customer behavior and expectations are transforming the payments industry. NACHA is challenging the marketplace to submit solutions — existing or proposed — that enable even more consumers, businesses and governments to use and benefit from ACH payments. Teams are encouraged to think big and creatively. Submission topics are not limited other than they should have direct relevance in whole or in part to the use of ACH.
The competition includes Judges’ Choice ($10,000) and Audience Choice ($5,000) cash prizes.
There is no cost to submit a proposal for the NACHA Challenge nor does it require membership in any organization. Submissions must be received by NACHA by online submission by 3:00 p.m. ET on Tuesday, Feb. 28, 2017, with all required elements and optional supporting materials.