ACH may be a standard product in banking terms, but high profits in this business are not a given. High levels of manual processing can quickly erode margins in an ACH operation, while also making it difficult to add new customers. This problem is exacerbated today by rising rates of ACH fraud, as well as by the payment risk associated with companies succumbing to challenging economic conditions.
D+H’s ACH processing solution, automates mission-critical ACH processes to allow US banks to scale up the volume of their ACH business significantly, while at the same time reducing cost, improving customer service and increasing customer loyalty and profitability. Additionally, D+H’s experienced professional services team provides expertise in industry trends, regulatory changes and interfaces with core and cash management systems.
Automated processes allow banks to catch clerical errors in real-time, without the need for time consuming manual checks. Likewise, files are processed immediately, allowing for timely limit checks. The swaps processing feature fixes rejected items and creates a notification for the originator, freeing staff from manual processes. Warehousing capabilities also free staff from manually tracking when payments should be released. This means that back-office costs can be significantly reduced while still providing fast and reliable service to customers.
The ACH processing solution’s pre-funding functionality allows banks to take on new customers in a responsible manner, while at the same time carefully managing risk. Automated checks on customer history, automated exposure management and the automated pre-authorization of those transactions approved for payment permit financial institutions to increase their ACH business while managing their risk effectively.
Billing and analysis functionality, automated returns processing, notifications of change processing and automated debit blocking allow financial institutions to improve and extend their relationships with customers, keeping them informed through detailed reporting and enabling them to reward customers where appropriate through improved pricing.