Service Updates

Catalyst Corporate has become a Funding Agent for credit unions looking to provide real-time payments capabilities to their members on the RTP^® network developed by The Clearing House (TCH).

As a Funding Agent, Catalyst Corporate will fund and manage positions in the RTP network’s joint Federal Reserve bank account on behalf of its member credit unions. Catalyst Corporate will facilitate settlement and 24/7/365 liquidity management of members’ RTP network participation, which might be burdensome for credit unions to administer on their own.

Becoming a Funding Agent is a critical step in Catalyst Corporate’s effort to build a 24/7/365 liquidity management solution for RTP transactions.

The RTP network is the first new core payments infrastructure to be built in the U.S. in more than 40 years. The system is the first to deliver 24/7 clearing and interbank settlement, including the real-time movement of money and enriched data between participating financial institutions.

Advanced Fraud Solutions’ TrueChecks^® fraud detection service is designed to catch fraudulent checks at the point of presentment. TrueChecks’ comprehensive database contains account level information from thousands of financial institutions and more than 10 years of account-level, historical check fraud data from customers, processors and third-party sources.

TrueChecks can provide credit unions useable data within one second of deposit. Once an item is matched against the TrueChecks database, tellers receive real-time results on duplicates, counterfeits, non-sufficient funds and closed accounts, among other types of fraud alerts. TrueChecks provides tellers with simple Accept (Green), Hold (Yellow) or Deny (Red) responses to help communicate potential risk.

TrueChecks is available with Catalyst Corporate’s TranzCapture suite of deposit services, as well as ImageClear deposit services, where it performs real-time check verification across deposit channels. Real-time verification is also available via direct access to the Advanced Fraud Solutions portal.

Member credit unions and vendors that receive X9 image files from Catalyst Corporate now have increased clarity on the types of files they receive. Catalyst Corporate X9 image files incorporate a new file naming format that provides differentiation between share drafts and deposits.

A three-letter code has been added to the end of each file name, in front of the “.zip” file extension. The following standardized codes are used: “_POD” for deposits, and “_SHD” for share drafts AND over-the-counter files. Over-the-counter only files generated separately from share draft only files are considered share drafts and will also reflect the “_SHD” code.