ACH Clarity is used to identify transaction anomalies and prepare comprehensive board reports
First Community Bank has selected ACH Clarity enterprise hosted ASP managed service and ACH FileFox Professional products from Laru, a provider of risk and compliance applications, to enhance operational efficiency and monitoring of its volume of ACH transactions.
According to Laru, ACH Clarity is a scalable application built on the Microsoft .Net platform and delivered on a stand-alone server, an enterprise hosted ASP or a software-as-a-service subscription.
Laru has said that using ACH Clarity, First Community Bank’s operations staff receives daily alerts and reports that identify transaction anomalies.
These capabilities have given the bank an automated means to immediately access and identify potentially concerning transactions. ACH Clarity’s drilldown capability provides forensics and isolates the source of the issues. The bank can also develop comprehensive board reports for executive management using Clarity.
Tres Kearney, vice president of sales at Laru, said: With today’s more stringent rules and regulations being enforced upon financial institutions, there is now an increased need for stronger risk management systems and controls designed specifically for monitoring ACH transactions. The use of ACH Clarity will ensure that First Community Bank can use actionable business intelligence to safely pursue its ACH growth targets while complying with NACHA’s rules and regulations.