TokenEx today became a Nacha Preferred Partner for ACH Data Protection.
As a Nacha Preferred Partner, TokenEx joins a select group of innovators recognized for offering products and services that align with Nacha’s strategies to advance the ACH Network.
“The modern ACH Network continues to evolve and thrive,” said Jane Larimer, Nacha President and CEO. “Part of the fuel for that evolution is our Nacha Preferred Partner program, a valued community dedicated to strengthen and grow the ACH Network.”
This partnership comes at a crucial moment, as Phase 1 of Nacha’s Rule on Supplementing Data Security Requirements goes into effect June 30, 2021. This rule requires ACH Originators and Third Parties that process more than 6 million ACH payments annually to render deposit account information unreadable in electronic storage.
TokenEx’s Data Protection Platform provides risk-reducing capabilities and flexibility for business use in preparation for this upcoming rule, and it has been used to protect ACH data for more than a decade.
“TokenEx was built from the ground up as a cloud tokenization provider, allowing us to offer a unique combination of security and compliance that can enhance revenue-impacting operations—not limit them,” said Alex Pezold, CEO, TokenEx. “We are excited to join other Nacha Preferred Partners who work together to protect and improve the ACH Network.”
Nacha’s Preferred Partner program is open to technology solution providers whose offerings align with Nacha’s core strategies to advance the ACH Network. Learn more about Nacha's growing community of Preferred Partners and how they can support your payments needs, by visiting www.nacha.org/Preferred-Partner.
Nacha governs the thriving ACH Network, the payment system that drives safe, smart, and fast Direct Deposits and Direct Payments with the capability to reach all U.S. bank and credit union accounts. Nearly 27 billion ACH Network payments were made in 2020, valued at close to $62 trillion. Through problem-solving and consensus-building among diverse payment industry stakeholders, Nacha advances innovation and interoperability in the payments system. Nacha develops rules and standards, provides industry solutions, and delivers education, accreditation, and advisory services.
TokenEx's Data Protection Platform helps organizations offload the risk of storing sensitive data internally and provides a single point of integration for third-party partners. As a result, TokenEx customers can safely and compliantly accept, store, and transmit sensitive data. This combination of security and flexibility enables customers to positively impact revenue by improving payment acceptance rates, reducing latency, and minimizing their PCI footprint.