April 18, 2023

Nacha Leadership: Collaboration Generates ‘Confidence and Growth’ for the ACH Network


Michael W. Kahn

Michael W. Kahn


Jane Larimer and Joe Hussey

LAS VEGAS—Expect the forward-thinking, collaborative approach to payments innovation to continue, as the evolution of the payments industry remains in full swing, Nacha leaders told the opening session of Smarter Faster Payments 2023.

“This collaboration among payments professionals from financial institutions, ACH Operators, associations, solutions providers, fintechs, businesses and governments of all types and sizes generates the confidence and growth we’re seeing year after year,” Nacha President and CEO Jane Larimer told more than 2,000 attendees April 17 at the MGM Grand. 

A prime example Larimer cited is how the ACH Network in 2022 recorded its 10th consecutive year of at least $1 trillion in growth. It’s due in large part, she said, “to our collaboration over the years, in guiding Nacha as we evolved the ACH Network to be the purpose-built and future-ready payments network you need today, and to meet the needs of the future.”

That includes examining future enhancements to Same Day ACH, including longer hours to accommodate potential users in the Mountain and Pacific time zones.

Larimer was joined by Joe W. Hussey, Senior Vice President, Global Treasury Management, Wells Fargo, and Chairperson of the Nacha Board of Directors, who said the $1 million Same Day ACH per-payment maximum that took effect in 2022 helped eliminate many concerns that the limit was too low for some corporate use cases. Same Day ACH, Hussey said, “suits itself well to many more use cases now than it did before.” Proof of that can be found in first quarter results for 2023, with Larimer noting that Same Day ACH saw a more than 20% volume increase year-over-year, and a 94% jump in value. 

The Nacha leaders also noted the success of Late Night ACH, with the ACH Operators now delivering ACH files to all receiving financial institutions in the ACH Network by 11:30 p.m. Eastern Time on business days.

“Faster information is always better,” said Hussey. Larimer noted the late night files mean “faster ACH without having rule changes, and just allowing that information to be there for consumers—especially on a holiday weekend.”

Risk management remains a top item on Nacha’s agenda, following the release last year of the new Risk Management Framework. This July, Nacha will host its first ever Risk Retreat, following TPI On Campus, with Larimer promising a hands-on experience that will be “less classroom and more tabletop exercises—rolling up your sleeves and actually participating.”

Accreditation is also a key focus area for Nacha, which is continuing its partnership with the U.S. Faster Payments Council to offer the first Accredited Faster Payments Professional Exam. Larimer announced the accreditation program will launch in the first quarter of 2025. The Faster Payments Professional Certificate Program is already rolling out.

“It’s another great example of the industry coming together with a lot of expertise throughout the whole faster payments ecosystem,” said Larimer. 

“Think about how the payments landscape today is completely different than it was five years ago or 10 years ago,” said Larimer. “You need an accreditation program that shows that people have expertise in a changing dynamic.”

Jane Larimer and Joe W. Hussey’s presentation will be available during Remote Connect, May 8-10. Learn more at the Remote Connect website.