In Response to Industry Regulations and Higher Level of Risk with ACH Transactions, Argos Risk Online Announces Powerful Solution to Protect Financial Institutions
Summary
It compiles everything that the customer does and provides us with an organized way to manage a complicated process.” “Argos Risk has had tremendous pre-launch interest in the Third-Party Sender Portfolio Report from financial institutions nationwide.ODFIs are at risk because they do not have direct access to critical information about the originating customers, yet they are bound by regulatory requirements to understand and monitor the actions of these entities.The Third-Party Sender Portfolio Report will debut at the NACHA Payments 2014 Show in Orlando, FL, April 6-9, 2014.Argos Risk’s Third-Party Sender Portfolio Report is designed to help financial institutions effectively identify and monitor the risk involved when originating ACH transactions on behalf of Third-Party Senders and their originators, allowing organizations to clearly see the aggregate risk that their customer and their customer’s customers bring to their organization.According to ACH expert Wyatt Abernethy, Treasury Management Officer for Texas-based Veritex Community Bank, “There really is a need for a product like this.It compiles everything that the customer does and provides us with an organized way to manage a complicated process.”“Argos Risk has had tremendous pre-launch interest in the Third-Party Sender Portfolio Report from financial institutions nationwide.ODFIs are at risk because they do not have direct access to critical information about the originating customers, yet they are bound by regulatory requirements to understand and monitor the actions of these entities.
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