Financial services software provider Finastra has announced the introduction of its modern ACH payment solution, aiming to better serve the needs of the US market.
Through this move, Finastra positions itself among the providers that support all US payment clearings, including ACH, wires, and real-time payments, within a unified payment hub, the company’s Global PAYplus.
Finastra’s new offering in the US
The Finastra ACH Module is developed and built on a modern technology stack to assist financial institutions in deploying a forward-compatible solution to simplify ACH processing, minimise operational complexity, and meet the ever-changing regulatory and customer demands. The company’s solution, which delivers a user-friendly interface, scalability, and the ability to manage large-scale transaction volumes, enables it to adapt to meet the needs of both large and small-scale financial institutions.
Finastra underlines several potential benefits that come with its ACH Module, including:
- Modern architecture, with the tool being built on cloud-native microservices and Kafka-based event simplifying for scalable ACH processing;
- Advanced risk and compliance controls, including exposure management, validation, monitoring, Positive Pay, pre-funding, and integration with fraud and OFAC systems;
- High performance, as the solution is capable of processing large volumes, including multiple batches and transactions across single or multiple files;
- Improved customer experience, enabling financial institutions to provide more transparent and reliable payment services.
Furthermore, Finastra plans to also add ACH processing to its Payments To Go solution, with the initiative going live in the upcoming months. Commenting on the rollout, representatives from Finastra emphasised that the launch focuses on further supporting payment modernisation in the US. The ACH solution merges advanced architecture with real-time capabilities to allow financial institutions to expand more efficiently and offer resilient and secure ACH processing to their customers. Additionally, as banks have been looking to include modern, forward-compatible alternatives to legacy ACH infrastructure, Finastra intends to support them and equip them with the ability to facilitate more value for their corporate customers.
