For this month’s Tracker Feature Story, PYMNTS recently caught up with Joe Casali, senior vice president of operations and IT for the New England Automated Clearing House (NEACH), on how his organization is working to help banks and other institutions prepare for the changes that come with the availability of Same Day ACH.
The "Same Day ACH for Businesses Essentials Guide" is a suite of resources that provide key guidance on Same Day ACH opportunities, benefits and value to businesses, and action plans for sending and receiving same-day payments. The "Essentials Guide" includes a PowerPoint presentation, an infographic, and three separate “essentials” documents outlining Same Day ACH implementation considerations for payables and receivables processes, including Hire-to Retire, Order-to-Cash, and Procure-to-Pay.
Ninety Percent of Surveyed Banks Report Same Day ACH Origination Volume is Higher Than or as Anticipated
A qualitative survey of 23 fiancial institutions comprising nearly two-thirds of Same Day ACH origination was conducted in December 2016 and January 2017.
A glimpse of Same Day ACH volume in 2016.
Community banks and credit unions remain diligent in their efforts to stay competitive in the evolving financial services industry.
“If your franchise means anything to you, you have to be relevant in payments,” said Bob Steen, CEO, Bridge Community Bank. “If you lose your payment relationship, you don’t have a franchise, because your customers can get a mortgage online, a car loan from a car dealer, and so on. If they don’t need you for payments, they don’t need you.”
Download the case study for more insights from Bridge Community Bank's experience.