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NEACH Issues November Faster Payments Executive Briefing

By Joe Casali AAP, APRP posted 11-14-2016 09:42


lightbulb.jpgNEACH’s Faster Payments Executive Briefing, published monthly in a quick, easy-to-read format, is your go-to resource for staying in the know about new developments in the faster payments landscape. 

Each month’s briefing highlights contributions from such industry leaders as NACHA, The Clearing House, The Federal Reserve, and other influential stakeholders, giving you the information you need to assess how these changes impact your organization and its members. 

In This Month’s Briefing…

With Same Day ACH Credits live, NACHA is now turning its attention to helping the industry prepare for Phase 2 when debits come online. This month NACHA is hosting a webinar, “Same Day ACH Phase 2—Get Ready for Debits Now,” featuring NACHA staff, both ACH Operators, as well as Sean Carter, SVP, Payments Strategies, NEACH. You can register for the webinar here.

Real-time payments continue on the fast path, with The Clearing House looking toward a broader “go-live” in 2017. Tim Mills, Vice President, The Clearing House, recently spoke with NEACH, stressing that community banks and credit unions should have a full-scale, real-time payments strategy in place by the end of 2017 to remain competitive. NEACH will continue to provide tools and resources to help its members in setting that strategy in the coming months.

The Federal Reserve remains tight-lipped as it reviews the 19 faster payments proposals that were submitted; however, various entities are sharing their visions. ICBA, for example, announced the details of its proposal with North American Banking Company for the All Payments App. Watch for announcements from others about their proposals in the future.

For more information, as well as additional news and resources related to Same Day ACH and real-time payments, download the complete Faster Payments Executive Briefing here.

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