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With two record-setting months, double-digit growth in several areas, and $14 trillion in payments, the third quarter results for the modern ACH Network are impressive. It’s worth taking a closer look, because the ACH Network was flourishing. Same Day ACH …
The third Same Day ACH processing and settlement window will take effect on Friday, March 19. As of that date, files of Same Day ACH payments may be submitted by an ODFI to its ACH Operator up to two hours later in the day. Are you ready? Same Day ACH …
As a general rule, faster is better. After all, who doesn’t like less traffic, or a plane that lands early? By the same token, who wouldn’t want to get their money quicker? That’s why there’s a lot to like about the new rule making ACH credits available …
ORLANDO, Fla.— JP Nicols believes it’s time to “get serious about innovation”—although his definition of innovation might differ from financial institutions’. “It’s not just ‘innovation theater,’” said Nicols, managing director of FinTech Forge. He …
This time, it’s not optional. On July 1, 2020, the ACH Contact Registry opens for business. Unlike the existing voluntary contact database, participation is mandatory. A new Nacha Operating Rule requires all financial institutions using the ACH Network …
It doesn’t seem that long ago we sent out an email heralding the launch of the ACH Contact Registry. Now we’re at the point where the ACH Contact Registry has been open three months, with another very important milestone literally days away. October 30 is …
In your list of new year’s resolutions, how about one to add your information to the ACH Contact Registry? If you already did, thank you! In fact, at the close of 2020, more than 32,000 contacts had been registered by financial institutions across the …
1. Help Yourself. Someday you’re going to need to find the right person at another financial institution to help you. Registering promptly for the ACH Contact Registry gives you access to all the other FI contacts that have registered. 2. Help Others. …
When COVID-19 forced much of the world into lockdown it was unchartered territory for many, including Nacha Consulting , formerly Elevation Consulting. As it turns out, we’ve been busy in recent months, and noticed a common thread among our clients: they …