Nacha NEW Rule on Meaningful Modernization – All the Details
September 6 @ 1:00 pm - October 14 @ 10:00 am CDT$150
Recent updates to help the ACH “user” experience with improvements and simplification by adopting new technologies and channels for the authorization and initiation of ACH payments. Included 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 will be covered in this 90-minute webinar, explaining how this new Rule applies.
Why Should You Attend
Standing authorizations, subsequent authorizations, oral authorizations, what options are there to a request for authorization are all a part of this new rule update to simplify the user experience with ACH.
With modern technologies, newer methods and channels make use of verbal interactions and voice-related technologies can change the user experience with the ACH network.
Administrative burdens can be reduced by making returning unauthorized transactions easier and less cumbersome by finding alternate ways to complete and authenticate a WSUD (Written Statement of Unauthorized Debit).
Areas Covered in the Session
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 is permissible for obtaining a consumer’s statement of unauthorized debit
» Describe through the use of scenarios – what, when, and how the pieces of Meaningful Modernization will help take the confusion and obstacles out of using the ACH network
» Discussion on the adoption of new technologies and channels for the authorization and initiation of ACH payments
Who Will Benefit
» Bank operations staff
» New employees in the payments industry
» Bank managers and payment professionals
» CEO’s and CFO’s
» Risk, Compliance, and Audit personnel
» Aspiring AAP’s and current AAP’s for AAP CE Credits
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