Identifee and Nacha Partner to Include Access to the Nacha Operating Rules & Guidelines Within Identifee’s AI Tool for Financial Institutions
LOS ANGELES, August 8, 2024 (Newswire.com) - Identifee is pleased to announce a partnership with Nacha, the organization that governs the Automated Clearing House (ACH) Network, to include the Nacha Operating Rules & Guidelines within the Identifee Digital Assistant (IDA) Artificial Intelligence (AI) tool for financial institutions. This innovative arrangement will provide banks and credit unions with enhanced ways to easily access the comprehensive resources that govern the ACH Network.
Through this integration, IDA will be able to directly access the Nacha Operating Rules & Guidelines and provide answers to questions in seconds. This enhancement is aimed to streamline understanding and compliance with the Nacha Operating Rules & Guidelines for smooth operation of millions of daily ACH payments.
"We are excited to work with Identifee to provide a tool that enhances usability and accessibility to the Nacha Operating Rules & Guidelines," said Victoria Day, Nacha Chief Communications Officer. "ACH Network participants should have the most current version of the Nacha Operating Rules & Guidelines, and with the addition of Identifee’s tool, they are supporting our shared goal of enhancing ACH Network quality."
“This is a game-changer for our customers,” said Kevin Miyamoto, co-founder and COO of Identifee. “Before IDA, users would spend time and energy looking through a physical book or scrolling online. Users can now augment the Rules with IDA to ask questions and get rules-based answers back within a few seconds.”
The Nacha Operating Rules & Guidelines serve as the foundation for every ACH payment, outlining the roles and responsibilities of financial institutions and establishing clear guidelines for all Network participants. IDA will help to facilitate a more efficient and deeper understanding of the Rules, ultimately benefiting the entire ACH Network ecosystem.
About Nacha Nacha governs the thriving ACH Network, the payment system that drives safe, smart, and fast Direct Deposits and Direct Payments with the capability to reach all U.S. bank and credit union accounts. There were 31.5 billion ACH Network payments made in 2023, valued at $80.1 trillion. Through problem-solving and consensus-building among diverse payment industry stakeholders, Nacha advances innovation and interoperability in the payments system. Nacha develops rules and standards, provides industry solutions, and delivers education, accreditation, and advisory services.
About Identifee Identifee is an AI engagement platform that makes it simple for financial institutions to identify, engage, and educate their customers. Identifee Digital Assistant (IDA) is secure enterprise AI that provides on-demand answers based on custom trained content.
Source: Identifee
