ODFI ACH Processing Risk Management Application

AchAchiever™ - is an Internet based multifaceted ACH File Risk Management Application designed to manage critical risk factors affecting ODFIs’ daily operations. AchAchiever™ provides significant risk management tools which enable ODFIs to mitigate processing risk, and monitor various elements of ACH transaction activity, including statistical monitoring of returns, by SEC Code, by totals and percentage factors, with preset risk management underwriting parameters or return ratios limits as dictated by NACHA.

AchAchiever™ has drawn critical acclaim not only for its’ ability to detect and report exposure exceeding preset risk parameters, but its’ method of presenting this critical data is unparalleled in today’s ODFI environment. Imagine a risk tool that illustrates degrees of risk exposure in color (RED being critical) on multiple monitoring screens (a micro-manager’s dream) for instant recognition and priority handling.

It goes without saying that early recognition of risk exposure leads to lower losses and better risk management; AchAchiever™ is an application whose time has come.

- Provides ODFIs with significant risk management tools including:

• Risk Monitoring – Real-time statistical monitoring of individual Originator’s ACH transaction activity returns by SEC Code (totals and percentages), file submission activity, transaction volume, etc.
• Restrict Transaction Type - Flags or restricts individual Originators from submitting unapproved or prohibited SEC transaction types, i.e. TEL, WEB, etc.
• Duplicate Files - Detects duplicate file and/or batch submissions, helping prevent double processing the same transactions.
• Managing Returns - Maintains original submitted trace number for tracking returns, matching them to original submitted transactions, mitigating duplicate and/or other unauthorized returns.
• Headquarters Risk Management - Allows off-site real-time monitoring of ACH transaction statistics, providing a significant risk management tool, and bringing efficient tools to the ODFI or 3rd Party ACH Processor for effective operational and risk management.

- Provides ODFIs with file operational management tools including:

• Returns Distribution - Reads return files, disseminating returns to Originators as an original ACH returns file and comma delimited text file.
• Combining Files - Combines ACH origination files at the ODFI prior to submission to the FED for processing, representing a reduction in the number of files submitted and a savings on the $5.00 per file FED fee.

Most importantly, AchAchiever™ is positioned between the ODFI’s ACH Core processing application and the FED line for real time transaction and returns monitoring; all leading to an effective risk monitoring and operational management process tool.