Strategic ACH Alliance
Formed
Harris Bank and CheckFree
are forming an ACH business alliance. In the alliance, Harris Bank
will integrate CheckFree's ACH processing technology and manage the
client relationship while CheckFree provides the back office and
technical support.
According to the companies,
customers of the new ACH business will benefit from:
- A Year 2000 compliant
ACH system
- Automated file
scheduling
- Extended deadlines for
customer file delivery
- Automated file
confirmation
The alliance, which is the
first of its kind for a bank of Harris's size, grew out of the two
companies' desire to deliver electronic commerce solutions to Harris
Bank's client base. The alliance allows financial institutions to
move ACH transaction processing from their own system to CheckFree.
Currently, more than 65% of all ACH transactions are processed
through CheckFree's ACH alliance processing platform or PEP+
application software.
[RETURN]
