A New Rule on Third-Party Sender Registration: How to Identify a Third-Party Sender Relationship and What Does this Mean to You?

         A NEW Rule was recently approved and will require Originating Depository Financial Institutions (ODFIs) to identify and register their Third-Party Sender customers with NACHA. The registration process will promote consistent customer due diligence among all ODFIs, and serve as a tool to support NACHA's continuing efforts to maintain ACH Network quality.

         In order to understand the impact this will make on the different participants (specifically Third Parties) - we need to identify the "Third-Party Sender" - extremely detailed examples will be used to help with this identification (due diligence) process.

         Third-Parties in ACH perform different functions which determines their role in the ACH network. A NEW Rule now requires registration with NACHA to identify any Third-Party Senders!

         What do these Third-Parties do for either the financial institution (ODFI/RDFI) or the company (Originator) and how does this affect the role they play in the ACH network? First due diligence must be done by the ODFI to answer this question - are you in a Third-Party Sender relationship?

         Determined by this "role they play" makes them, and the financial institution they do business with obligated to adhere to responsibilities and the Rules when processing ACH Payments. The ODFI will be required to register any Third-Party Sender (and nested Third-Party Senders) for whomever they are doing any type of ACH business with them.

         In this 90-minute session, the different types of Third-Parties will be addressed. Third-Party Service Provider and Third-Party Sender and the difference between the two will be identified to help the ODFI in determining if they have a Third-Party Sender relationship. The ODFI is required, with this new Rule, to register any Third-Party Sender relationship that exist and if there is no relationship, the registration is still necessary.

         Attend this session to hear suggestions on how the ODFI can perform their due diligence to determine whether they have a Third-Party Sender relationship and register with NACHA accordingly beginning Sept 29, 2017. What type of information should you gather now to be ready for the registration process.

• Identify ways in which the ODFI can perform due diligence to determine "if" they have a Third-Party Sender relationship
• Outline details on how to determine a "nested" Third-Party Sender
• Provide the implementation period, provided by NACHA to submit initial registration information, or to provide statements that the ODFIs have no Third-Party Sender customers
• Compliance with the Registration is Required for each Third-Party Sender
• Define the requirements for the ODFI to provide a limited set of initial, basic registration information for each Third-Party Sender
• Provide details on when the Third-Party Sender registry will become available for ODFIs to begin submitting registration information
• Outline timeframe that ODFIs will have to register their Third-Party Sender customers

This webcast will be of a valuable assistance to the below audience.

• Third-Party Payment Processors
• ACH operations staff
• Compliance officer
• ACH managers
• aspiring AAP's (Accredited ACH Professional)
• Electronic Payments Professionals
• Third-Party Senders
• Third-Party ACH Processers

• Financial Institutions
• ACH Operations Departments
• Audit Departments (within financial institutions)
• Financial Institutions/Banking