Nacha announced that LexAlign PBC is now a Preferred Partner for Compliance and Risk and Fraud Prevention.
LexAlign provides compliance solutions designed to address risk and combat fraud in the payments industry. The LexAlign platform built for banks and their Originators automates the compliance audit process to address exposure to payments fraud and ensure adherence to the Nacha Rules and applicable laws. The platform enables banks to manage their exposure to Originator operations through data-driven scoring and analytics.
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“Nacha continues to focus on strong risk management and fighting fraud, to keep the modern ACH Network safe and reliable,” said Jane Larimer, Nacha President and CEO. “We are pleased to welcome LexAlign as our newest Nacha Preferred Partner.”
“The rise in credit-push fraud has riveted attention to the importance of Originator security and compliance with the Nacha Rules, as fraudsters exploit gaps in Originator operations. We created LexAlign to fortify the frontline by empowering Originator security and compliance, while providing data and scoring banks can use for proactive risk management, at scale,” said Trevor Lain, LexAlign Founder and CEO. “We’re honored to be a Nacha Preferred Partner as we work with banks to implement Nacha’s new Risk Management Framework for the Era of Credit-Push Fraud.”
Source: BusinessWire