Market Overview

NEACH Joins NACHA's Payments Innovation Alliance, Participates in Faster Payments Playbook Initiative

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Today the New England Automated Clearing House (NEACH) announced its
participation in the Payments Innovation Alliance, a NACHA-The
Electronic Payments Association® initiative, and its launch of the
Faster Payments Playbook project. The playbook will provide tools for
financial institutions and business end-users seeking greater clarity
and understanding around faster payments as they look to develop their
faster payments strategies.

The group, consisting of nearly 60 volunteers, represents a diverse set
of participants, including financial institutions, technology providers,
associations, networks, businesses, and other industry stakeholders. The
group will develop playbooks that serve as living resources to help
organizations understand the capabilities and attributes of all faster
payments solutions, make decisions appropriate to their customer bases
and business needs, and develop forward-looking strategies.

Representing NEACH in the Payments Innovation Alliance is Joe Casali,
AAP, NCP, senior vice president and Sandy Ortins, AAP, APRP, NCP, vice
president of Education.

"NEACH is pleased to participate in the Payments Innovation Alliance,
and through our active participation, seek to be an advocate for
positive change," said Casali. "We are strong supporters of payments
innovation and look forward to contributing to the work being carried
out by the Alliance."

The project also includes various subgroups. As described by the
Payments Innovation Alliance, the Financial Institution subgroup will
create a playbook for banks and credit unions to help them better
understand the faster payments options available and include
decision-making guides to provide to various customer segments. The
Corporate subgroup will focus on creating a playbook to help businesses,
government, and nonprofit clients, regardless of size, better understand
available faster payments options and how these options may meet their
payment needs. It also includes a follow-up focus on how these options
support remittance information with a payment.

The Faster Payments Playbook, in which NEACH staffers Joe Casali, AAP,
NCP, senior vice president is co-leading the effort and Kathy Shea, AAP,
APRP, NCP, director of Risk and Compliance, is serving as a contributor,
is just one of several initiatives currently underway by the Payments
Innovation Alliance.

Three additional projects, focused on developing tools to help the
marketplace in related areas, also recently launched, all of which
include NEACH representatives:

  • ACH Quick Start Guide — NEACH Director Liz
    Grayeck-Birchell, AAP, APRP and Eileen Narbutus, AAP, director of
    Education are working with other Alliance members in this group to
    develop interactive online tools and resources to help small- and
    medium-sized businesses better understand and use ACH to make and
    receive payments for an array of use cases.
  • ISO 20022 Toolkit — Led by NEACH Board Member Nasreen
    Quibria and NEACH member Orlando Santos, the group contributes to the
    development of educational tools and resources to help financial
    institutions and companies understand the capabilities, timelines, and
    functionality of various ISO 20022 enhancements. Janet Merlet, AAP,
    NCP, vice president of NEACH Membership Services also contributes to
    the group.
  • Cybersecurity Response — Sandy Cinelli, AAP,
    APRP, CAMS, NCP, director of Risk and Compliance for NEACH is working
    to develop and promote tools and resources to help organizations
    understand evolving threats, which includes questions and topics to
    address before, during and after a cyber-attack.

Membership
in the Payments Innovation Alliance is open to financial institutions,
fintechs, processors, industry associations, corporates, governments,
consultancies, and others. Work efforts are underway in all project
areas with teams meeting virtually in the coming months. The next
in-person membership meeting will take place October 10-12, 2018, in
Washington, DC.

NEACH, through its participation in the Payments Innovation Alliance and
other industry initiatives, seeks to represent its members' interests
and amplify their voices on initiatives shaping the industry. If you
have views or opinions you would like expressed to the Payments
Innovation Alliance, contact Joe Casali by phone at 781-321-1011 or via
email at jcasali@neach.org.

For more information and to learn how to join, visit allianceexchange.nacha.org.

About NEACH
NEACH is a non-profit trade association with 45
years of experience helping members originate and receive ACH
transactions. NEACH provides products, services, education, and
marketing to its member institutions and other New England entities to
increase the acceptance, use, and quality of electronic transactions. To
learn more, visit www.neach.org.

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