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[Podcast] The ACH Network is Not Just Payroll and B2B Transactions. It’s Branching Into New Segments, Too
Many are familiar with the ACH Network, which last year electronically moved 24.7 billion payments valued at nearly $56 trillion between accounts at different financial institutions for payments including large B2B transactions or payroll direct deposit. …
Doctors are increasingly making the switch to receive electronic claim payments, but for dentists it’s like pulling teeth. The new 2019 CAQH Index , released Jan. 21, estimates that 70% of medical claim payments were made electronically last year. That’s …
Like 8-track tapes and white disco suits, Appendix 8 of the Nacha Operating Rules has faded into history. Many were using it as a guide for ACH audits, which Nacha acknowledged in the title of its recent webinar, “Curing the Appendicitis After Removing …
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 …
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 …
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 …
Nacha is requesting industry feedback on a set of Rules proposals and other concepts collectively referred to as “Meaningful Modernization.” The deadline has now been extended to May 1, 2020. Learn more about it on our Rules page …
Every hour of every day, in corners of the world near and far, the men and women of the United States armed forces are hard at work keeping us safe. That’s why it’s important to pause every Nov. 11—Veterans Day—to remember the sacrifices so many have made …