40% of S/M Banks Unhappy with ACH System in North America

Posted by John B. Frank Wednesday, April 1, 2009

Finextra: 40% of small to mid-size North American banks not happy with ACH system - survey

01 April 2009

40% of small to mid-size North American banks not happy with ACH system - survey

Almost 40% of small and mid-sized banks in North America are not happy with their current ACH system, according to a survey for Fundtech.

The independently conducted survey of 70 payments professionals shows 60% of banks have seen an increase in revenue from ACH transactions over the last year and 48% recognise the potential of their systems as a source of revenue and competitive advantage.

However, the need for more sophisticated reporting and functionality in order to meet market, regulatory and economic demands, is putting pressure on banks' existing ACH systems, claims the vendor.

Half of respondents say inadequate reporting is an area of concern in relation to their ACH systems, whilst 27% cite insufficient automation.

Continue Reading at Finextra

ACH system, ACH, Fundtech

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