SAN FRANCISCO–As a leading financial infrastructure company that provides fast, secure, and accessible financial services through a simple API, Stronghold’s successful completion of the 2022 Nacha ACH Audit demonstrates to its customers and partners that Stronghold® has a substantial risk and compliance program, stability, and strong ACH core practices.
The National Automated Clearing House Association (Nacha) governs the thriving Automated Clearing House (ACH) Network, the payment system that drives safe, smart and fast direct deposits and direct payments. The ACH Network processed over 29 billion payments in 2021.
The ACH network electronically moves money and related payment information quickly and securely from any financial institution to another. Nacha develops and administers the private sector with rules defining the roles and responsibilities of the ACH payment network participants. Stronghold is a third-party ACH Network participant and uses the ACH Network to send and receive ACH payments and deposits domestically within the United States.
Earlier this year, Stronghold also joined Nacha’s Payments Innovation Alliance. This influential group of payments industry participants supports advancements across the Automated Clearinghouse (ACH) network within the US and worldwide. The Alliance collaborates with Nacha, the ACH network’s governing organization, and other members to drive and guide innovation through discussion, education, task forces, resource sharing, and special initiatives.
Stronghold CEO and co-founder Tammy Camp said, “The ACH Network is one of the country's most well-known and utilized payments networks. At Stronghold, we are proud to maintain compliance with ACH standards to help our customers and partners make faster and simpler payments.”
Learn more about Nacha’s Compliance Audit Requirements.
Watch Stronghold CEO and co-founder Tammy Camp announce our completion of Nacha's 2022 Compliance Audit:
Stronghold is a leading financial infrastructure company that provides fast, secure, and accessible financial services through a simple API. Stronghold works with businesses to make payments quicker and easier while maintaining regulatory compliance and interoperability between payment systems. Stronghold launched the highly successful digital currency SHx in 2018 to provide real-time settlement, discounts in fees for business customers, rewards, and merchant cash advances. To learn more, visit stronghold.co.
For more information, contact:
Lena Tichy, [email protected]