Late in 2019, the Federal Reserve Bank announced that it would be adding another ACH settlement window. Originally slated for the summer of 2020, the later settlement goes into effect on March 19, 2021. OpsEngine, the CU*Answers data center, began preparing for the new same-day ACH window at the time of the announcement.
The CU*Answers OpsEngine data center completed this new same day ACH project as part of its overall ACH development plan projected to span at least two more fiscal years.
“The ACH landscape is changing rapidly right now,” says Jeff Miller, The OpsEngine Business Development Manager. “Aside from newer technologies, ACH processing went unchanged for many years; but 2016 saw the addition of same-day transactions and the process has been growing and changing ever since with little likelihood of a slowdown – and that’s a good thing. CU*Answers ensures that our client credit unions are positioned for these changes in advance.” Miller indicates that the data center is ready for the new processes and that CU*Answers has been getting the word out as the projects develop.