Laru’s technology provides the bank’s internal operations personnel with a user-friendly, comprehensive tool that can research, report and manage risk exposure effectively, as well as ensure compliance with existing and new ACH regulations taking effect on June 18, 2010.
ACH Clarity is an enterprise system that complements United Bank & Trust’s core ACH processing system. Laru’s web interface monitors incoming and outgoing ACH traffic between participating financial institutions.
Using ACH Clarity, the bank’s operations staff receives daily alerts and reports that identify transaction anomalies. ACH Clarity’s drilldown capability provides forensics and isolates the source of the issues. The bank also generates comprehensive board reports for executive management using Clarity.
Marsha Whitehouse, vice president of treasury management at United Bank & Trust, said: “As the result of a recent audit, we recognized the need to manage our ACH transactions and files with better controls. ACH Clarity provides those necessary and important tools to accomplish this.”
