Nacha New Rule on Meaningful Modernization – All the Details

Why Should You 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 in the Webinar:

Key points surrounding Meaningful Modernization and what it means to the participants in the ACH Network will be detailed. In this session, the trainer will:

• Define Standing Authorization
• Subsequent Authorization requirements and flexibility for the Originator
• Benefits for the use of Meaningful Modernization and 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
• ACH operations staff
• ACH Audit personnel

Donna K Olheiser
VP of Education, Dynamic Mastership

Donna has over 24 years of experience in the financial services industry which includes 9 years' experience as the Education Service Director at a Regional Payments Association (RPA), where she managed and facilitated the entire Education program for nearly 800 financial institution members. Prior to that, Donna spent 14 years in various departments with the Federal Reserve Bank of Minneapolis and also holds the Accredited ACH Professional (AAP) designation (achieved in 2004).

Donna's extensive knowledge, enthusiasm and passion for transferring payment processing knowledge using the adult learning theory is remarkable and has helped many payment professionals perform daily operational tasks including exception processing while remaining compliant with the NACHA Operating Rules. She uses scenarios and examples to bring the learning home, easy to comprehend and apply to real-life day-to-day ACH processing. Donna's ability to engage the learner through the entire training event helps the adult learner apply what they've learned during and after each training session.

Follow us :