NACHA has continually engaged business end users, processors, solution providers and others who use the ACH Network to inform the development of the Network and the NACHA Operating Rules.
HERNDON, Va. (PRWEB) September 03, 2014
NACHA —The Electronic Payments Association ® today announced the formation of a Board Advisory Group, creating a more formal mechanism for non-financial institution providers and users of the ACH Network to directly communicate with the NACHA Board of Directors. This group will enter into dialogue with the NACHA Board and provide input and feedback on topics significant to the ACH Network and to those that use or support and enable the use of ACH payments by others.
“NACHA has continually engaged business end users, processors, solution providers and others who use the ACH Network to inform the development of the Network and the NACHA Operating Rules,” said Jan Estep, NACHA President and CEO. “The Board Advisory Group builds upon this tradition and provides a forum for regular, in-depth conversations that will help shape the future of ACH payments.”
The NACHA Board Advisory Group will consist of representatives from a balanced cross-section of ACH Network participants – businesses of different sizes and types, associations that represent various types of users, and processors or technology providers that enable and support the use of ACH payments. As a senior executive who can offer perspectives on topics of importance to ACH Network users, a Board Advisory Group representative will be asked to draw upon his or her knowledge and experience while offering insights from a broader constituency. Those participating in the Board Advisory Group will be expected to attend two in-person meetings with the NACHA Board to allow for robust dialogue.
Board Advisory Group representatives will also be encouraged to participate in Payments Innovation Alliance meetings to gather and share industry perspectives. The Payments Innovation Alliance is a NACHA membership program that brings together hundreds of diverse voices from across the payments ecosystem to help advance both the ACH Network and the global payments industry as a whole.
Individuals who are interested in serving on the Board Advisory Group should complete the “Expression of Interest” form on NACHA.org. NACHA plans to announce representatives for the first two-year term by December 2014. The first meeting of the Board Advisory Group will be in March 2015.
In addition to bringing additional non-financial institution voices to NACHA through its new Board Advisory Group, the rule-maker continues to expand its outreach to all Network participants through other initiatives and channels as well. The goal is to foster dialogue on ACH Network initiatives, issues and opportunities in various ways to ensure NACHA hears from all Network users.
“There is much value that can be gained by providing meaningful venues for dialogue that include the voice of the end user and those that enable them to use and benefit from ACH payments,” said Estep. “As the trustee of the ACH Network, it’s our role to facilitate this dialogue. Through the Board Advisory Group, the Payments Innovation Alliance, and other initiatives, we now are extending that which we have been doing for years so all Network participants are heard.”
For more information on these opportunities with NACHA, visit nacha.org.
About NACHA—The Electronic Payments Association
NACHA manages the development, administration, and governance of the ACH Network, the backbone for the electronic movement of money and data. The ACH Network provides a safe, secure, and reliable network for direct account-to-account consumer, business, and government payments. Annually, it facilitates billions of Direct Deposit via ACH and Direct Payment via ACH transactions. Used by all types of financial institutions, the ACH Network is governed by the fair and equitable NACHA Operating Rules, which guide risk management and create payment certainty for all participants. As a not-for-profit association, NACHA represents more than 10,000 financial institutions via 16 Regional Payments Associations and direct membership. Through its industry councils and forums, NACHA brings together payments system stakeholders to foster dialogue and innovation to strengthen the ACH Network. To learn more, please visit http://www.nacha.org, http://www.electronicpayments.org, http://www.payitgreen.org, and http://direct.nacha.org.