Overview:

The financial services industry is a highly regulated industry with strict policies that must be adhered to. In the event of non-compliance, it may lead to administrative actions against the organization, imposition of fines and penalties, and in extreme cases, shutting down the entire operations and criminal sanctions enforced. Banks that participate in the ACH network should have a comprehensive risk management program in place to mitigate potential risk and reduce your bank’s credit exposure from fraudulent activities attempting to enter the ACH network.

In order to remain competitive in the payment space, financial services companies must tackle key technology challenges and in many cases modernize their internal infrastructure in order to quickly develop new, competitive services. This is where Affirmative takes a role in your overall success by taking care of your technology needs by addressing security, integration with existing systems, regulatory compliance and innovation.

Product Description

AchRiskManager™ is an application used by ACH departments for monitoring incoming ACH files and validating against control settings defined for that Originator or Third Party Provider. The application is browser based and provides unlimited search criteria for filtering transactions for quick transaction look-ups. The application can send automatic notifications via e-mail, SMS, e-Fax to designated parties within the financial institution for notification or obtaining approval for releasing files.

AchRiskManager™ is a browser-based application used by ACH departments to simplify the complexity of the bank’s current daily ACH operations. Utilizing control settings and risk limits defined by the bank, incoming ACH files are validated against pre-defined control settings prior to releasing files through the ACH Network. Some features include automated returns matching, disposition, shadow table updates for corrections, extensive search filters and tracking, graphing and trending statistics based on exposure limits and return reason code, i.e., unauthorized, administrative. The application is available in a bankers’ bank model, as a payment aggregator or a single bank application.

Affirmative’s servers are maintained by our hosting provider, Savvis Inc., providing our customers with the highest level of security including data encryption, redundancy sites, and disaster recovery plan. Savvis is Sarbanes-Oxley, SAS 70 level 1&2, and HIPAA compliant.

Our technology and solution offering leverages your existing on-line banking channels for picking up and processing your originator’s ACH files and provides NACHA compliant risk management tools and a secure payment platform that meets the necessary mandates imposed by banking regulators.

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