Blogs

Top Takeaways From the 2025 FedNow Workshops

By Stephanie Tisch posted 29 days ago

Executive Summary The FedNow Workshops in Richmond, Charlotte, and Jacksonville this year highlighted the operational simplicity, digital onboarding improvements, and strategic opportunities for financial institutions (FIs) adopting instant payments. Early adopters shared positive experiences, emphasizing streamlined reconciliation, minimal exceptions, and customer-driven adoption without extensive marketing. The discussion also underscored the urgency for FIs to participate in FedNow to remain competitive and to meet consumer expectations shaped by platforms like Zelle and Venmo. As of the presentation of these workshops, FedNow ...

Understanding Authentication vs. Authorization

By Krystle Bucci posted 10-27-2025

In the ACH Network, authorization and authentication are distinct but complementary processes: authorization grants permission to initiate a transaction, while authentication verifies the identity of the party initiating it. What Is Authentication? Authentication is the process of verifying that a person or entity is who they claim to be. In the ACH context, this typically occurs when: A consumer logs into a banking portal using credentials like a username, password, or biometric data A business Originator accesses a payment platform using secure credentials A financial institution confirms the identity of its customer before allowing ...

Securing the Backbone of Payments: Best Practices for FedLine Security

By Tracy Marshall posted 09-09-2025

I n today’s fast-moving digital payments landscape, security is non-negotiable , especially for systems like FedLine , which provide critical access to the Federal Reserve’s financial services. FedLine is an organization’s gateway to process Fedwire funds transfers, ACH originations and settlements, or FedNow transactions, and it must be safeguarded with diligence, precision, and oversight. What Is FedLine? FedLine is a suite of secure access solutions used by financial institutions to interact with the Federal Reserve Bank's payment and information services, which include: FedLine Web – Browser-based access for basic reporting and messaging ...

Highlights from the Cannabis Banking Symposium

By Angelica Larranaga posted 08-20-2025

I recently attended the 7th Annual Cannabis Banking Symposium sponsored by the Association for Cannabis Banking (ACB) and The National Association of State Credit Union Supervisors (NASCUS) . It was a great opportunity to get a sense of the current state of the industry from the perspective of our members, and I want to share my key takeaways: ✅ Banking is a not just a compliance decision, but a strategic decision. A major theme throughout the event was that a successful cannabis banking program begins with a top-down strategic decision. It requires full institutional buy-in, starting with the Board of Directors defining the institution's risk appetite. ...

Are Your Payments Operations Ready for Hurricane Season?

By Michael Jeffcoat posted 06-10-2025

Hurricane season runs June 1 – November 30. Is your institution adequately prepared to maintain business continuity in payments operations? This is the time of year when we remind our members that the excused delay provision of the Nacha Operating Rules , found on page OR 3, Section 1.5 , is intended to apply to processing delays caused by an interruption of communications or computer facilities that is out of the control of the financial institution, due to weather emergencies (“acts of God”) or war. This rule is not intended to excuse delays due to general failure of a financial institution’s or processor’s computer system or other equipment, which ...

Reducing Remote Deposit Capture Fraud Losses

By Wanda Downs posted 11-06-2024

If your institution is experiencing an increase in check fraud - as many are - chances are some of those losses are coming through your Remote Deposit Capture (RDC) service. How can you prevent, or at least reduce, these losses? First, let’s consider: why the sudden increase? Conversations with member institutions on ePayResources’ Payments Answerline™ and in our Fraud Reduction Meetings lead me to believe it is not a result of deficiencies in the RDC services or platforms themselves. Contributing Risk Factors There are several contributing factors, the first of which is online account opening, a widely available option among our members. Fraudsters ...

Audit & Risk Assessment Makeover: The Hurdles of DIY

By Crissy Terry posted 10-15-2024

As we get deeper into the 4 th quarter of 2024, ePayAdvisors is looking ahead to getting our members’ 2025 engagements on the books now so you can get the dates that are convenient for you and your institution. Why should booking your 2025 audit and/or risk assessment with ePayAdvisors be on your mind now? After all, you can always do it yourself, especially at the last minute, right? The DIY mindset is a huge part of our culture, in large part because of the cost savings it can represent. But is DIY always the right approach, especially when your institution’s compliance and risk management are at stake? It can pay off for your institution in the ...

How to Prepare for Your ACH Audit

By Amber Schweiger posted 08-25-2024

Whether your audit has not taken place yet this year, or you are already preparing for 2025, ePayAdvisors wants to ensure a seamless process by informing you of the essential documents and information needed, potentially saving you time and resources. Here are some things to keep in mind as you prepare for your organization's ACH audit: Your audit reports for the last six years We will be verifying: • That your annual audits have been performed; • That you have been adhering to the 6-year record retention requirement for your audit reports; and • That you have remedied any findings from previous audits Samples of records of entries ...

Unlocking the Keys to Secure Transactions: Part 2 - Corporate Credit/Debit (CCD) Authorizations

By Stephanie Hottle posted 07-19-2024

In today's fast-paced corporate environment, efficient and secure financial transactions are crucial. The Automated Clearing House (ACH) Network plays a pivotal role in facilitating these transactions. Among the various transaction types, Corporate Credit or Debit (CCD) transactions stand out due to their specific requirements and significant role in corporate finance. Understanding and adhering to CCD authorization requirements is essential for ensuring compliance and maintaining smooth financial operations. CCD transactions are a type of ACH transaction designed specifically for corporate entities. Unlike consumer transactions, CCD transactions cater to ...

WOW! WHAT A GREAT MEETING!

By Stacy Turner posted 06-13-2024

You don’t hear that every day! ePayResources’ Fraud Reduction Meetings , FREE to our members, may be the exception to the rule. Maybe I’m biased as an ePayResources team member, but here’s what I observed in the recent Richmond Fraud Reduction Meeting: Lively discussion of real-life fraud examples: Elder financial exploitation (note: World Elder Abuse Awareness Day is June 15 each year) Card cracking P2P and A2A external transfers Wire fraud Washed Treasury checks U.S. Mail theft Money mules Online gaming scams Sharing of mitigation resources, ...

Unlocking the Keys to Secure Transactions: Part 1 - Understanding Proper Authorization

By Stephanie Hottle posted 06-11-2024

The ACH Network serves as the foundation for electronic payments in the United States, facilitating billions of transactions annually. Ensuring proper authorization is important to maintaining security and trust in the vast network. In this first article in my series, we’ll look at what proper authorization means and why it's crucial in the world of ACH payments. Authorization refers to the process by which an Originator obtains consent from the Receiver to initiate an electronic transaction. This consent ensures that the transaction is legitimate and authorized by the Receiver. Before initiating an ACH transaction, the Originator must obtain this explicit ...

Thinking Through External Transfer (A2A) Liability

By Barbara Hudgins posted 06-03-2024

Have you thoroughly considered the risks of external account-to-account transfers, specifically consumer debit origination? Almost every week ePayResources fields a call from a member ODFI that has been asked to provide proof of authorization (PoA) for a debit entry they allowed a consumer accountholder to send to another institution. Often the ODFI’s accountholder debited someone else’s account for a large sum, and now the accountholder and the funds are gone. The ODFI tells us that their accountholder filled out an online banking agreement and used micro-entries or some other account verification product. The problem is that account validation and transaction ...

Don't Make These Mistakes! Key Risk Management Takeaways from Payments 2024

By Crissy Terry posted 05-29-2024

I got to attend Nacha’s Smarter Faster Payments conference this month with fellow members of the ePayAdvisors team to ensure we have the latest industry and regulatory insight to support your payments compliance, risk management, and consulting needs. Here are some quick key takeaways I brought back to share with you! Session: Funds Transfer Case Update - An Overview Related to Funds Transfer Fraud and Other Funds Transfer If a customer refuses commercially reasonable security procedure and the refusal is in writing, the courts will likely side with the bank in cases of fraud (such as refusing dual control, tokens, etc.) Key takeaway: ...

Managing the Complexities of Third-Party Sender Risk

By Tracy Merritt posted 05-01-2024

In the payments world, third-party risk management identifies and mitigates the risk associated with using a Third-Party Service Provider (TPSP) or Third-Party Sender (TPS). Nacha has been incrementally addressing third-party risk management with changes to their Operating Rules and Guidelines like the Third-Party Sender Registration rule and the Third-Party Senders Roles and Responsibilities rule, to require that ODFIs know the nature of their customers’ use of the ACH Network, whether as Originators, Third-Party Senders, or other types of intermediaries. One of the trickier aspects of being an ODFI is recognizing and understanding Third-Party Senders, ...

Recognizing and Preventing P2P Fraud

By Vivian Rini posted 04-24-2024

The increasing popularity of digital payment platforms, known for their speed and convenience, is accompanied by a rise in fraud. Peer-to-Peer (P2P) apps like Venmo, Cash App, and Zelle are widely used and the transactions are often difficult to reverse, making them attractive tools for scammers. To prevent financial loss, it is crucial for everyone using these apps to be aware of how the fraudsters work and how to protect yourself and your customers or members. How P2P Scams Happen P2P scammers typically employ social engineering, which is psychological manipulation used to gain the victim’s trust and trick them into sharing confidential ...

The Buzz from ePayConnect!

By Tracy Marshall posted 04-04-2024

ePayConnect offers so many sessions across all payments channels and we always wish we could be in two - or more - places at once! Here’s some of the buzz you may have missed!

What’s the Business Value of Instant Payments?

By Tracy Merritt posted 01-30-2024

According to Federal Reserve surveys, the majority of U.S. businesses sent or received a faster payment in 2022, the most recent year for which data is published. Offering instant payments via the FedNow ® Service can help your institution meet this demand, improve customer experience, and keep pace with the competition. Your organization can also reap other benefits from instant payments. For example, transactions settle between financial institutions in seconds, so there’s no buildup of interbank obligations. Plus, instant payments provide revenue growth and cost-saving opportunities that can benefit your financial institution’s bottom line. Instant ...

Don't Fall Prey to Sneaky Social Engineering!

By Tracy Marshall posted 01-29-2024

2024 kicks off with Data Privacy Week (January 21 – 27) and Identity Theft Awareness Week (January 29 – February 2) back-to-back. Fraudsters frequently use social engineering when perpetrating identity theft, data breaches, and other types of financial fraud. As SVP, Technology and Support for ePayResources, one of my areas of responsibility is data security. The following social engineering scenarios are not uncommon but perhaps are something you and your coworkers have not encountered yet. Awareness is key to not falling prey to the clever criminals! During the regular course of business, a team member receives a ...

Is There an Award Winner in Your Midst? ePayResources Wants to Know!

By Anne-Marie Leake posted 12-25-2023

February 9 is the last chance for nominations for the 2024 Leadership in Payments Award! Is there someone at your institution who has: Led the charge in obtaining senior management buy-in on an innovative payments solution? Championed the implementation of robust payments risk management practices? Expanded faster payments adoption among your customers or members? ePayResources would like to consider them for the annual Richard R. Oliver Leadership in Payments Award! But you must hurry – the nomination deadline is February 9, 2024! Nominees can be an individual, a team, or a whole department. You can even nominate yourself! Presented ...