Nacha welcomes Finastra to preferred partner programme

Nacha, the organization governing the ACH network, has officially partnered with Finastra to streamline how businesses handle electronic payments. This partnership focuses on three key areas: modernizing the ACH experience, adopting the ISO 20022 messaging standard, and enhancing fraud prevention. For retailers and service providers, this signals a major push toward faster and more secure bank-to-bank transfers. As financing shifts away from high-interest credit cards toward direct bank payments and BNPL, the underlying technology needs to be more robust. Finastra’s integration means that lenders and the merchants they serve will benefit from more data-rich transactions. The shift to ISO 20022 is particularly important; it allows more information to be attached to a payment, reducing reconciliation errors and making it easier to track customer payments across different platforms. Furthermore, the focus on risk and fraud prevention helps protect operators from the increasing threat of ACH-based fraud. This infrastructure upgrade ultimately makes offering 'pay by bank' options safer and more reliable for your storefront or practice.

Source: Finextra — Lending

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