SWBC to use Mastercard's Finicity for ACH payments

Under this partnership, SWBC will use the Finicity’s Open Banking platform Finicity Pay for instant account validation of online Automated Clearing House (ACH) payments. This will help meet the National Automated Clearing House Association’s (NACHA) 2021 requirements for ACH transactions that allow better anti-fraud controls.

NACHA manages, develops, administers, and governs the ACH network in the US. By instantly verifying the account status and details for an ACH transfer, Finicity platform’s integrated solution set will allow SWBC to create a safer ACH ecosystem.