5 Things to Know About IBM Financial Transaction Manager for Automated Clearing House Services
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Many forces are changing the way financial transactions are processed. New consumer channels (such as the Internet, mobile devices, and social media) are driving higher expectations from financial institutions. A dramatic increase in Automated Clearing House (ACH) payment volumes are also impacting financial institutions. NACHA, the electronic payments organization, esti
1. What is IBM Financial Transaction Manager for ACH Services?
Financial Transaction Manager for ACH Services provides prebuilt support for processing ACH transactions, including ingestion, validation, transaction management, and distribution. It includes validation using NACHA operating rules, transaction management, and a robust rules-based environment that addresses payment routing and exception management. Other key services include an automated import/export facility, process management, data warehousing, and reporting and extracts.
2. How does Financial Transaction Manager for ACH Services help key roles?
This solution provides a control center that is the portal for configuring, monitoring, and managing payment transactions being processed. The control center is used to support key roles in the payment lifecycle. For example, the Administration menu enables the technical support team and system administrators to manage system performance and security, configure properties of various components and manage custom attributes. The business analysts are normally responsible for the functional configuration of the system. The control center provides capabilities for the business analysts so they can do activities, such as configuring products and services, onboarding partners, data transmission, and maintaining the business rules. The control center has three different menus of services to support the operations team managing day-to-day operations of the payment processing. These and many other roles are supported by the control center.
3. What are the benefits of Financial Transaction Manager for ACH Services?
Financial Transaction Manager for ACH Services provides these key benefits:
4. Does Financial Transaction Manager for ACH Services support rules-based processing?
This solution has a robust rules-based environment that handles payment routing and exception management of files, batches, and transactions. It also provides an automated import and export facility for handling ACH processing rules.
5. What are the core capabilities of this solution?
IBM Financial Transaction Manager for ACH Services includes these key ACH payment processing capabilities:
It includes ACH payment receipt capabilities, such as control total matching, authorization, and Notification of Change and Death Notification Entry management. With respect to NACHA, it provides support for receiving and sending files in accordance with the NACHA 2014 operating rules (including all SEC codes) and reference implementations for NACHA file origination and receipt.
To learn more about the IBM Financial Transaction Manager for ACH Services, see the IBM Redbooks publication Fina