The Centrix ACH Scheduler incorporates an ACH origination calendar, management controls and reporting for incoming ACH files. The system is a management tool that helps a financial institution ensure that ACH files received from originators are valid and the files that are scheduled to be originated by clients are received on the correct day. The ACH Scheduler can be deployed stand alone or as part of the Centrix ACH File Validation suite.
EXECUTIVE OVERVIEW
ACH risk is a reality for every financial institution. It is all too frequent that we read about fraudulent ACH files getting into the ACH network because the proper safeguards were not in place. One such safeguard to mitigate ACH risk is for the financial institution to utilize an ACH origination calendar to define the file submission schedule for each originator. The Centrix ACH Scheduler streamlines this process by providing an on-line tool that acts as another defense mechanism against ACH fraud while also facilitating premium customer service.
The ACH Scheduler, which is part of EPIQ™... The Electronic Payments I.Q. Suite, is a web-based system that incorporates an origination calendar, reminder emails, a daily processing queue and reporting. The system accommodates an unlimited number of files per originator, dollar amount thresholds per file and comprehensive reporting of all activity. Features and benefits are:
On-line ACH Calendar – An ACH calendar is created for each originator to define the dates that specific files are to be submitted, the name(s) of those who are responsible for each respective file (client employees) and the amount threshold that each file generally would not exceed. The origination calendar is web-based and can be updated by the client or the financial institution. Reminder Email – Each business day, an automated email is sent to client employees who are responsible for submitting a scheduled ACH file that day. -
Processing Queue for Scheduled Files – To efficiently manage scheduled files, the system includes a daily processing queue for the financial institution. As files are received, operations personnel verify file totals and mark each file as processed. The processing queue provides an easy method of monitoring files that have not been received so a courtesy phone call can be placed. Additionally, by verifying each file received against the scheduled queue, unexpected files are identified that may represent fraudulent activity.
Reporting – The financial institution can generate activity reports for both future scheduled ACH files as well as past activity.
- Historical Trend Report
- Scheduled File Submission Report
- End of Day Balance Report
- Audit Report of all Activity
Automated Validation – The ACH Scheduler can be deployed stand alone or as part of the Centrix ACH File Validation suite. If implemented with file validation processing, all originated ACH files are automatically validated against the ACH Calendar to insure that the file is scheduled for that day. If a file is received that is not scheduled, an error or warning condition is created for the bank to review.
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Using an ACH origination calendar is an effective way to mitigate ACH risk as well as enhance customer service. The Centrix ACH Scheduler enables a financial institution to accomplish both objectives, while also ensuring efficiency and accountability.
To discuss Centrix ACH Scheduler in more detail or receive additional information,
contact us via email at info@centrixsolutions.com or call 402.488.3990.
