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When you say Third-Party Payment Processor (TPPP) or Know Your Customer (KYC) supervision, most US banks think first of prudential regulators. In particular, the Office of the Comptroller of the Currency (OCC) oversees nationally chartered banks and…

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Today’s regulatory environment is uncertain and difficult to navigate. The risk factors for ACH/Check Processing are unique compared to those for credit card processing. As such, it is important to understand those differences and how to best manage your portfolio risk with thorough due diligence and ongoing monitoring. Additionally, banks are facing…

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Recently, I listened to a head of treasury operations at a $10B bank tell a story about how she fixed delays in ACH underwriting. Traditionally, underwriting was conducted by credit department, which asked credit applicants the kinds of things a credit analyst would ask for. These included three years of financial statements describing revenue, net worth, liquidity, profitability, debt service coverage and debt/income.

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At the IAFCI conference in Phoenix, Rayleen Pirniv (EPCOR) and Jeanette Fox (NACHA) stated a main difference between credit card networks and the ACH:

“Unlike Credit Card processors, the ACH has no prohibited business types.”

What exactly does that mean for you?
Like a pebble in a pond, the ripple effect of a bad third party can always be traced back to the source.

Every year, over 18 billion transactions representing $40 trillion in volume, flow through the ACH network. This is far more than the card networks – and with the mandatory EMV adoption in 2015 – we expect to see even more fraudsters transition their activities from credit card to the ACH network. With the proper due diligence and monitoring, much of this fraud can be prevented.

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