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Nacha New Rule on Meaningful Modernization – What this Means

Duration : 90 Minutes

Donna K. Olheiser,

Donna K Olheiser, AAP, is the vice president of Education Services and founder of Dynamic Mastership, LLC. She is an enthusiastic and energetic Certified Master Trainer with over 14 years’ training experience. She has designed and facilitated over 100 training sessions each year with her exp Read more

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.

Course Objectives:

Standing authorizations, subsequent authorizations, oral authorizations, what options are there to a request for an 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).

Course Outline:

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

• 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

What You Get:

• Training Materials

• Live Q&A Session with our Expert

• Participation Certificate

• Access to Signup Community (Optional)

• Reward Points

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

• ACH operations staff

• ACH Audit personnel

Please reach us at 1-888-844-8963 for any further assistance or if you wish to register

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Subject : Nacha New Rule on Meaningful Modernization – What this Means

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