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Nacha believes that risk management is central to maintaining a high-quality ACH Network that relies on the trust of each participant. Financial Institutions’ obligations include conducting a risk assessment and implementing a risk management program …
Even before the first phase of Same Day ACH was implemented nearly five years ago in September 2016, Nacha’s Risk Management Advisory Group (RMAG) had been evaluating potential risk increases and decreases due to Same Day ACH. Were the doom and gloom …
Any database is only as good as the information it contains, and the ACH Contact Registry is no exception. Although enforcement of the Registry Rule doesn’t begin until Aug. 1, Nacha is already making spot-checks for data quality. The Rule requires that …
HERNDON, Virginia , Sept. 22, 2022 –Nacha released a report on its latest Risk Management Framework today, providing a new strategy for industry participants in both the ACH Network as well as other payments systems to address new and persistent frauds …
There are banks that look at Third-Party Senders and—right or wrong—have their doubts. Wayne Gonzales gets it. In his experience, many Originating Depository Financial Institutions (ODFIs) “really aren’t interested in Third-Party Senders because of the …
You want more ACH payments from your customers because ACH: Costs less than check and card payments; Requires less labor to process than checks and you can’t increase hires (or have to decrease head count); Clears quickly for improved cash flow; Provides …
NASHVILLE, Tennessee —Could FedNow pave the way for more ACH settlement windows? A major stumbling block to expanding ACH hours is that the Federal Reserve’s National Settlement Service (NSS) for interbank settlement closes at the end of the business day …
You asked. We listened. Enhancements made! The next time you visit Nacha’s Risk Management Portal you’ll find several changes which are the direct results of industry input. It starts right at the login page. If you get an error message it now includes …
Direct Deposit continues to be the overwhelming choice for Americans to receive their wages, a new survey finds. In its 2022 “Getting Paid in America” survey, the American Payroll Association (APA) found that more than 93% of those questioned use Direct …