Nacha Adds Finastra to Preferred Partner Program

Nacha has added Finastra to its preferred partner program, naming the global financial software company as a provider able to support banks and credit unions with ACH network implementations and compliance.

In an announcement, Nacha said Finastra will join a roster of vendors that work with the organization to align products and services with Nacha rules and technical standards for the U.S. Automated Clearing House Network. The preferred partner program identifies suppliers that can help financial institutions implement ACH capabilities, meet operational and regulatory requirements, and adopt network enhancements.

Finastra offers banking and payments software used by banks, credit unions and other financial firms. As a preferred partner, Finastra will coordinate with Nacha on rule interpretations, file format requirements and implementation guidance so its customers can deploy ACH functionality and keep systems aligned with Nacha updates.

Nacha said the program gives participating vendors direct channels for technical engagement and education about ACH rule changes, while vendors provide products and services that support compliance, testing and operational readiness for ACH origination and receipt. Nacha administers the ACH Network and sets the rules and standards that govern electronic payments such as direct deposits, bill payments and business-to-business transfers in the United States.

Software providers enable smaller banks and credit unions to add payment capabilities without building custom infrastructure. By adding Finastra to the preferred partner list, Nacha expands the group of vendors it recognizes for meeting the organization’s criteria for technical competence and alignment with ACH requirements.

Nacha is a nonprofit association that governs the operating rules and standards for the ACH Network and provides education, rulemaking and enforcement related to electronic funds transfers. Finastra is a global provider of banking software and payment systems that serves retail banks, corporate treasuries and other financial institutions.