ACH Certified

Overview

The Montran Automated Clearing House (ACH) has been designed, from its inception, to perform real-time immediate netting of payments, cheques and other financial instruments. It handles batch processing in either continuous or deferred settlement mode.

The ACH can handle very large volumes of low value payments and cheques, and combines efficiency and reliability of service with sound position maintenance and liquidity management facilities.

The ACH is an electronic clearing system that enables files of payment instructions to be exchanged among financial institutions. It calculates multilateral net positions and submits a net settlement instruction to RTGS to perform the settlement.

Features

• A modular component structure to meet individual requirements and provide flexibility for growth and expansion as needs arise.
• ACH payment entry and processing using standard message formats with or without image records i.e. ISO 20022, X9, NACHA, SWIFT XML, bulk payment and country specific message formats.
• Instant Funds 24/7 clearing with flexible settlement
• Cheque truncation and data capture from cheques at point of presentment, including image capture.
• Settlement of net positions in one or more sessions per day at pre?specified times, set by the ACH operator.
• Supports Pre-funded Netting, Protected Netting via Pooled funds, or Open netting arrangements.
• Supports inter CSM (inter ACH) operation based on EACHA
• Capability to interface directly, or via SWIFT, to RTGS and CSD systems for collateral provisioning and final settlement.
• Integration with the Montran Mandate Management, Dispute Management and AML modules
• Capability to carry over queues and balances between intraday clearing cycles.
• Real-time monitoring, including - but not limited to - messages, count and volumes of payments in sessions or daily totals, actual and projected positions, account balances for both the ACH operator and participating institutions
• Complete monitoring of account balances for both the ACH operator and participating institutions.
• Complete monitoring of projected positions available to both the ACH operator and Participants.
• Operational reliability with backup and contingency arrangements.
• Maintenance of a statistical database with query and reporting facilities, including charts.
• Secure, encrypted, digitally signed, interactive communication for system monitoring and file exchange.
• ACH file submission and payment data entry modules.
• Calculating and requesting the required collateral in anticipation of a settlement session.
• Capability to suspend payments.
• Processing high priority payments or VIP cheques in real time mode with continuous settlement.
• Store and forward function to allow submission of files overnight, to optimize network bandwidth usage.
• A multi-currency and multi-lingual system.