2019 NACHA Payments Awards
Recipients of 2019 NACHA Payments Awards Named at Smarter. Faster. PAYMENTS 2019
ORLANDO, Fla., May 8, 2019 – Nacha announced the recipients of its 2019 Payments Awards, which celebrate proven accomplishment and leadership in the payments industry and recognize and reward the payments innovations defining the future. The Payments Awards include the Nacha Excellence in Payments Award and the ACH Network Challenge 2019.
The award winners were recognized during the 2019 Nacha Payments Awards Luncheon, sponsored by TD Bank, during Smarter. Faster. PAYMENTS 2019. The conference ends today at the Orlando World Center Marriott in Florida.
ACH Network Challenge 2019
The ACH Network Challenge 2019 is a team competition designed to foster new ways to enable usage for Same Day ACH capabilities within the payments ecosystem. This year’s ACH Network Challenge invited teams to submit original ideas on how one would use, or enable others to use, Same Day ACH to pay or be paid faster. Three finalist teams presented their proposals during Smarter. Faster. PAYMENTS 2019.
The Audience Choice Award ($10,000)
- Today Payments, which proposed targeting real estate-related transactions. While millions of homes and commercial property are sold each year in the U.S., almost no sales occur directly between a buyer and seller. Instead they involve the use of third-party brokers, escrow, lenders, and others. Currently personal checks, corporate checks, wires and cashier’s checks dominate the real estate Industry. However, Same Day ACH would eliminate the involvement of third parties in many of these payments.
Today Payments, Inc., a woman owned company that has built dozens of
integrated software solutions has won the National Automated Clearing House
Association's (NACHA) 2019 ACH Network Challenge Award.
Leigh Cook, the president of the San Diego based company was honored on stage, Tuesday May 7, with the award at NACHA's Payments 2019 Award Luncheon held in Orlando, FL. “We are honored to be representing what women in business can accomplish. I am so proud of all the hard work of my US based team of programmers! I always tell them they are amazing and talented; it is nice to let them be recognized from NACHA, such an esteemed institution!” Leigh Cook shared that her payments software solution was truly unique in that it would “revolutionize and protect a market of payments that includes up to 5.5 million transactions monthly! There is not a solution on the market at this time that streamlines the buying and selling of homes with the power of Same Day ACH like our solution for the Real Estate Industry. We saw the need for secure – know your client transactions -and decided to think outside of the box to solve this problem (wire fraud has been exploding in this industry)!”
The ACH Network Challenge is a team competition, worth up to $25,000 in prize money, split between two awards. It is designed to foster new ways to enable Same Day ACH to improve efficiencies and add capabilities within the payment’s ecosystem. This year’s teams were invited to submit ideas for the best uses for Same Day ACH that no one else has thought of yet! “NACHA appreciates the participation from solution providers, financial institutions, and industry strategic thinkers, all of whom have found innovative ways to further advance electronic payments,” said Jane Larimer, chief operating officer of NACHA. “The NACHA Payments Awards are very competitive, and each Award draws an excellent turnout of candidates every year. It is our honor to recognize the best of the best.”
Leigh Cook shared, “I guess it would take a Woman Owned Business (and a mom!) to think of this solution for Same Day ACH! There is such a need to protect our families in the US while they make the most important purchase in their lives, their HOMES! Our solution is designed to enhance this experience with real time notifications to all parties of the real estate transaction and add a solution to the problem of the very real need to securely protect these funds with built in back end safety measures, so that fraud is a thing of the past.”
The Today Payments Team was awarded $10,000.00 in award money. Leigh Cook went on to say, “This award money doesn’t go to the company! This is split up between the developers (employees) that worked so hard to build the platform! As a self-funded business – with no business debt – this is a nice bonus for them! Cheers to you team! I am so proud of you all!” NACHA's ACH Network Challenge is part of the not-for-profit organization's efforts to move its (Automated Clearing House) electronic funds-transfer network from single, next-day settlement to multiple, same-day and next-day settlement options that would be available for virtually any ACH Network transaction. NACHA is the administrator of the ACH Network and is responsible for setting and enforcing operating rules, by which users of the global ACH Network must abide.
PAYMENTS 2019 attendees voted Today Payments as the winner of the Audience Choice prize.
All payments industry participants were given the opportunity to vote for the winner online from a pool of three finalists.
“We are proud to recognize Early Warning, Aliaswire and Today Payments as well-deserving recipients of the 2019 Nacha Payments Awards,” said Jane Larimer, chief operating officer of Nacha. “These award winners have found innovative ways to meet the needs of a changing payments industry while demonstrating just how important and integral electronic payments are to everyday life.”
Follow the conference hashtag #PAYMENTS2019.
Nacha is a nonprofit organization that convenes hundreds of diverse organizations to enhance and enable ACH payments and financial data exchange within the U.S. and across geographies. Through the development of rules, standards, governance, education, advocacy, and in support of innovation, Nacha’s efforts benefit all stakeholders. Nacha is the steward of the ACH Network, a payment system that universally connects all U.S. bank accounts and facilitates the movement of money and information. In 2018, there were 27 billion ACH payments, and more than $51 trillion in value moved across the ACH Network. Nacha also leads groups focused on API standardization and B2B payment enablement. Visit nacha.org for more information, and connect with us on LinkedIn, Twitter, Facebook and YouTube.
About Today Payments
Today Payments, Inc was formed in 2007 by Leigh Cook as a way to provide payment solutions that make life easier for business. It has grown over the years to encompass both Card and ACH solutions. Leigh has employed a San Diego based team of programmers over the years to build integrated payment solutions, so business owners can do what they do best.
For more information
Today Payments, Inc.
Visit TodayPayments.com for more information, and connect with us on LinkedIn, Twitter, Facebook , YouTube and Instagram.