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Trial Periods for ACHOne Optional Modules End Soon

by Catalyst Corporate | Dec 14, 2020

Catalyst Corporate recently finished the successful transition of 600 credit unions to its robust new ACH platform – ACHOne.

With migration to this platform, users received free, three-month trial access to five of ACHOne’s optional service modules. These modules deliver added efficiencies to credit unions’ daily ACH operations.

ACHOne from Catalyst CorporateThe optional services included: Active Archive, Warehousing, Credit Risk Monitoring, Domestic OFAC Checking and International OFAC Checking. More details on each of these helpful services can be found below.

  • Active Archive maintains Nacha files and batch and item storage for up to six years, fulfilling the Nacha rules requirement. This also allows credit unions to derive returns, NOCs, templates and new transactions from the historical data, and create search queries and data exports (PDF, Excel, and CSV). 
  • Warehousing holds origination items for a configurable number of days based on the effective entry date. Warehouse items can be easily accessed from the reconciliation page or the search tab, and credit unions also have the ability to hold or stop warehoused batches.
  • Credit Risk Monitoring tracks and reports unauthorized and administrative returns, (a Nacha rules requirement) manages batch, transaction and credit exposure limits, and reports rolling exposure for credit unions and their business users. 
  • Domestic OFAC Checking checks incoming and outgoing U.S. based transactions for potential OFAC hits. If decisioning is enabled, credit union users can quickly flag or view details for suspect transactions and add comments for false positives and OFAC hits. 
  • International OFAC Checking allows credit unions to apply the same helpful features and functionality of Domestic OFAC Checking to their foreign transactions. 

The trial period for these optional services ends December 31, 2020, so credit unions are encouraged to explore these options if they haven't already. Billing for the optional modules will begin in January 2021.

In addition to the optional modules above, a new optional module – Anomaly Detection – is now available for a free trial through January 31, 2021! 

  • Anomaly Detection checks origination transaction amounts, batch totals and batch count variations based on past origination activity. Configurable settings give credit unions the ability to establish acceptable ranges.

For more information on any of these optional modules, or on ACHOne, contact us today.