Solutions Summit 2014

ACH Positive PayPast, Present, and

Future

John Snyder

Teresa Wood

Chesapeake System Solutions, Inc. • Proprietary and Confidential

Why Is It Needed?

• ACH transactions used to be direct bank to bank transactions• Funds travelled with transaction• No reconciliation was required

• Today there are many originators• Transactions can start from anywhere, even outside the U.S.• Networks have expanded to include insecure sites• Communications go beyond the bank’s firewalls• Public networks are frequently used

Chesapeake System Solutions, Inc. • Proprietary and Confidential

Fraudsters Opportunities and Threats • External third-party initiation and origination• Remote Deposit Capture• International payments• Wire transfer payments too

Chesapeake System Solutions, Inc. • Proprietary and Confidential

How Does It ACH Positive Pay Work?• Preemptive• Proactive• Anomaly detection• Mining

• Matching• Check conversions• Non standard reference fields

• Filtering at the account level• Blocks• Amount / date limits• Particular payees

Chesapeake System Solutions, Inc. • Proprietary and Confidential

How T-Recs Supports• Conventional T-Recs matching• Customer records to bank clearing records• Flexible watch criteria, reference data• Many-to-one, many-to-many

• SmartResolve rules• Manual setup• Importable from a file• Updateable

Chesapeake System Solutions, Inc. • Proprietary and Confidential

Demonstration

Chesapeake System Solutions, Inc. • Proprietary and Confidential

What’s Next?• Converted checks• New filtering rules

Q&A