Description
* Please note that the recording links will be delivered to you via a downloadable word document in your confirmation e-mail. The PowerPoint that corresponds with the recording will be automatically delivered upon purchasing via email from the website.
WHAT?
A recent update to the Nacha Operating Rules with the “Meaningful Modernization” Rule (effective Sept 17, 2021) will help the ACH “user” experience by adding improvements and simplification, plus adopting new technologies and channels for the authorization and initiation of ACH payments. Included in this change, was a reduction to the barriers when using the ACH Network by providing clarity and increasing consistency pertaining to certain ACH authorization processes and by reducing some of the administrative burdens related to ACH authorizations.
What does all this mean to the participants in the ACH network will be covered in this two-hour webinar, explaining all the details.
WHY?
Understanding how the ACH network works can be difficult and confusing. In this session, the trainer will cover this Rules change by defining the changes with standing authorizations, subsequent authorizations, oral authorizations, and what options are available when requesting an authorization and how this will ultimately simplify the user experience with the ACH network.
With modern technologies, newer methods and channels make use of verbal interactions and voice-related technologies can change the user experience when providing oral authorization in the ACH network.
Demonstrations included will define details on how this new amendment eases the administrative burdens by making returning unauthorized transactions easier and less cumbersome by finding alternate ways to complete and authenticate a WSUD (Written Statement of Unauthorized Debit).
PROGRAM CONTENT
The program provides:
Key points surrounding Meaningful Modernization and what it means to the participants in the ACH Network will be detailed. In this session, the trainer will:
- Define Standing Authorization
- Subsequent Authorization requirements and flexibility for the Originator
- Describe how using the same formats/methods permissible for obtaining a consumer debit authorization being permissible for obtaining a consumer’s statement of unauthorized debit
- Identify and define by using scenarios – the what, when and how the intricate pieces of Meaningful Modernization will help take the confusion and obstacles out of using the ACH network (for the user and the Financial Institution)
- Discussion on the adoption of new technologies and channels for the authorization and initiation of ACH payments
WHO?
The program is designed for; bank operations staff, bank managers and payments professionals, CEO’s and CFO’s; risk, compliance and audit personnel; including aspiring AAP’s and current AAP’s for AAP CE Credits (this 2-hour/120 minute presentation) qualifies for 2.0 AAP CE Credits (this includes eliminating time from the total session for breaks, etc.)
