Automated Clearing House News - Fourth Quarter 1988
Original Publication Date: 1988-Jan-01
Included in the Prior Art Database: 2015-Oct-07
ACH newsletter from 1988
Page 01 of 4
Automated Clearing House News ·
Fourth Quarter 1988
New York Automated Clearing House 100 Broad Street
New York, N.Y 10004
At the halfway mark:
NYACH delivery is 93°/o all-electronic
At the end of the first year of a two-year campaign to achieve 100% electronic transmission, 93% of the transactions
of the New York Automated Clearing House are electronic. When NYACH announced its drive on November 30, 1987, transactions were 68% electronic.
Only 364 of the 625 depository financial institutions belong- ing to NYACH (or 58.4%) were all-electronic at the start of the campaign. By December 31, 1988, member DFls in- creased to 730, of whom 596 (or 81.6%) were all-electronic. Final conversion date for all members is January 2, 1990.
"The first year of our campaign was marked by enthusiasm on the part of the folks who made the conversion,'' says New York Glearing House senior vice president William M. Walsh. "They quickly became convinced of the benefits of electronic transmission: security, timeliness and cost-eftec- (continued on back page)
RISING ON THE ALL-ELECTRONIC CHART
All-electronlc transactions as a percentage of
NYACH transaction volume
as a percentage of total NYACH member Institutions
Serving New York State, northern New Jersey and Puerto Rico
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NACHA conference will focus on corporate ACH issues
Corporations are a key audience of the 1989 National Auto- mated Clearing House Association conference coming
to New Orleans in April. The program will stress such cor- porate concerns as ACH-transmitted vendor payments, cash concentration and disbursement, dividend distribu- tion, point-of-sale transactions, employee payroll, and elec- tronic data interchange.
Discussion topics will include implications of Article 4A of the UCC; the national ACH marketing plan; how to write corporate agreement letters; an ANSI update; a debate on EFT with and without remittance advice; and what NACHA is doing to support growth of !=DI.
For newcomers to the ACH, several fundamental sessions are planned, including corporate applications of the ACH and their rationale; basics of electronic data interchange and its importance; and the economics and techniques of corporate cash management.
Corporate speakers have been scheduled from GE Informa- tion Services, Exxon, Dupont and RJ Reynolds, among others.
For information, call Martin Schumer, executive director, New York Automated Clearing House, (212) 613-0196.
Speaking of NYACH
GREATER EFFICIENCY FOR FIRST BRANDS
Jim Delaney, AVP, Corporate Payment Services, Electronic Banking Group, Manufacturers Hanove~ Bank, New York
"We were working with the cash management people at First Brands Corporation two years ago after the former Consumer and Automotive Products Division broke away from Union Carbide in a leveraged buyout. Their goal, of course, was to economize and upgrade cash manage- ment services. One of the ways we helped was to develop a timely and co...