Description

NEW Rule on Meaningful Modernization – All the Details

Training Level

Intermediate/Advanced

Dates Available

June 7, 2022 11 AM ET
Aug 16, 2022 1 PM ET

Duration

90 minutes

Overview

Recent updates to help the ACH “user” experience with improvements and simplification by adopting new technologies and channels for the authorization and initiation of ACH payments. Included was a reduction to the barriers when using the ACH Network by providing clarity and increasing consistency pertaining to certain ACH authorization processes and by reducing some of the administrative burdens related to ACH authorizations.

What does all this mean will be covered in this 90-minute webinar, explaining how this new Rule applies (and it is optional for Originator/ODFI)

Why You Should Attend

Standing authorizations, subsequent authorizations, oral authorizations, what options are there to a request for an authorization are all a part of this new rule update to simplify the user experience with ACH.

With modern technologies, newer methods and channels make use of verbal interactions and voice-related technologies can change the user experience with the ACH network.

Administrative burdens can be reduced by making returning unauthorized transactions easier and less cumbersome by finding alternate ways to complete and authenticate a WSUD (Written Statement of Unauthorized Debit).

Areas Covered

• Define Standing Authorization
• Subsequent Authorization requirements and flexibility for the Originator
• Benefits for the use of Meaningful Modernization origination options
• Describe how using the same formats/methods permissible for obtaining a consumer debit authorization being permissible for obtaining a consumer’s statement of unauthorized debit
• Describe through the use of scenarios – what, when and how the pieces of Meaningful Modernization will help take the confusion and obstacles out of using the ACH network – this is a “must-attend” session!
• Discussion on the adoption of new technologies and channels for the authorization and initiation of ACH payments

Who Will Benefit

• Bank operations staff
• New employees in the payments industry
• Bank managers and payment professionals
• CEO’s and CFO’s
• Risk, Compliance and Audit personnel
• Aspiring AAP’s and current AAP’s for AAP CE Credits

Target Audience

• Financial Institutions
• Banking Professionals
• Audit Persons
• Aspiring AAP’s (Accredited ACH Professionals)
• Current AAP’s earning continuing AAP Credits
• ACH operations
• ACH Audit personnel