Safeguarding Faster Payments and Addressing Nacha’s Account Validation Rule
The ACH network’s ever greater volumes raises an important question: how do financial institutions, who increasingly rely on ACH, safeguard faster payments?
The use of Nacha’s ACH Network skyrocketed during the pandemic, prompted by the need to provide faster digital payments and quicker reconciliation of payroll, stimulus, B2B, P2P, and other payments. ACH was already heavily used by most financial institutions (FIs) to facilitate Direct Deposit of payroll, Social Security and other major payments.
According to a new white paper from Advanced Fraud Solutions, Protecting ACH Payments: Safeguarding Faster Payments and Addressing Nacha’s Account Validation Rule, issues related to fraud and compliance have also become top-of-mind for financial institutions.
Advanced Fraud Solutions’ new white paper has timely advice on how to safeguard faster payments.
Advanced Fraud Solutions is now a Nacha preferred partner for Account Validation.
What You’ll Learn
- The growth of the ACH Network.
- Use cases for Account Validation.
- How the WEB Debit Account Validation Rule impacts financial institutions.
- Best practices for protecting faster payments and complying with Nacha’s WEB Debit Account Validation Rule.
- And how TrueACH® with Account Validation — a new ACH tool that enables financial institutions to confirm the account status, account owner or authorized user(s) — can help mitigate fraud and aid in Nacha compliance
Download the White Paper