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ACH Positive Pay Past, Present, and Future

ACH Positive Pay Past, Present, and Future. John Snyder Teresa Wood. Why Is It Needed?. ACH transactions used to be direct bank to bank transactions Funds travelled with transaction No reconciliation was required Today there are many originators

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ACH Positive Pay Past, Present, and Future

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  1. ACH Positive PayPast, Present, and Future John Snyder Teresa Wood

  2. Why Is It Needed? • ACH transactions used to be direct bank to bank transactions • Funds travelled with transaction • No reconciliation was required • Today there are many originators • Transactions can start from anywhere, even outside the U.S. • Networks have expanded to include insecure sites • Communications go beyond the bank’s firewalls • Public networks are frequently used

  3. Fraudsters Opportunities and Threats • External third-party initiation and origination • Remote Deposit Capture • International payments • Wire transfer payments too

  4. How Does It ACH Positive Pay Work? • Preemptive • Proactive • Anomaly detection • Mining • Matching • Check conversions • Non standard reference fields • Filtering at the account level • Blocks • Amount / date limits • Particular payees

  5. How T-Recs Supports • Conventional T-Recs matching • Customer records to bank clearing records • Flexible watch criteria, reference data • Many-to-one, many-to-many • SmartResolve rules • Manual setup • Importable from a file • Updateable

  6. Demonstration

  7. What’s Next? • Converted checks • New filtering rules

  8. Q&A

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