NEED FOR BETTER UNDERSTANDING DRIVES INITIATIVE FOR NEW MESSAGING
NEW YORK, New York – January 18, 2012 – Viewpointe®, a leading provider of electronic content management and exchange solutions and services, announced today that it will support NACHA’s Messaging Project initiative to develop clear, powerful messaging, to help ensure a common understanding of the NACHA Operating Rules, the ACH Network and ACH payments. The initiative involves the definition, adoption and consistent use of industry terminology to explain the ACH Network, ACH payments and their attributes and advantages.
NACHA worked with industry professionals over the past 12 months to determine the appropriate terminology and messages. Based on the results of this research, NACHA developed specific language to define the ACH Network, generated terminology to explain ACH payments and created distinctive phrasing to convey the role of the ACH Network and its characteristics. Viewpointe supports NACHA’s findings and will continue to support efforts to drive awareness and acceptance of the updated and consistent messaging.
“The NACHA Messaging Project provides a significant opportunity for all financial institutions and businesses to better communicate about the ACH Network and ACH payments,” said Glenn Wheeler, vice president, Viewpointe Clearing, Settlement & Association Services. “We encourage our members to use the materials and resources available to begin incorporating the messages, terminology and phrasing into their materials and products.”
Four core messages will be supported when referring to the ACH Network and ACH payments:
- Message 1 defines the ACH Network: The ACH Network is the backbone for the electronic movement of money and other related data, providing a safe, secure, reliable network for direct consumer, business and government payments.
- Message 2 describes Network inclusiveness: Large and small financial institutions of all kinds jointly govern and utilize the ACH Network, facilitating billions of payments such as Direct Deposit and Direct Payment.
- Message 3 positions the NACHA Operating Rules: The ACH Network is governed by fair and equitable rules that guide risk management and create certainty for all participants.
- Message 4 emphasizes Network innovation: As the migration from paper to electronic payment continues, the cost-effective ACH Network will grow and enable innovation that strengthens the industry with creative payment solutions.
In addition, terminology was created to refer to the specific language used to explain ACH payments. The industry indicated that Direct Deposit should continue to be used as it has been, but that the definition of Direct Payment should be expanded to include all other forms of payment.
Finally, it became evident that a vehicle was needed to articulate the connection between Direct Deposit and Direct Payment and the ACH Network. The phrase “via ACH” will bridge this gap: “via ACH” is the differentiating phrase that links ACH payments back to the Network.
This is an ongoing messaging project. Viewpointe supports the NACHA Messaging Project and encourages members to incorporate this information throughout promotional and other materials to drive use of the new messages, terminology and phrasing. Numerous tools have been developed to communicate these updates. For more information or to download turn-key materials to support adoption, visit http://direct.nacha.org.
ABOUT VIEWPOINTE
Viewpointe® is a leading provider of multibank infrastructure solutions for customers ranging from credit unions to Fortune 100 financial institutions. With one of the largest national archives of check images and digital information in a private cloud environment, Viewpointe offers archive capabilities, end-to-end check image exchange clearing and settlement and Automated Clearing House association services. Bank Technology News named Viewpointe one of the top innovators of 2008, an annual ranking of the 25 most advanced people, companies and technologies in financial services. Since 2006, Viewpointe has been named to the prestigious FinTech 100, representing the best of the best in financial technology and service providers. For more information, please visit http://viewpointe.com/.
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Media Contacts:
Loretta Mock/Jessica Kleinman
viewpointe@cognitomedia.com
646-395-6300