Welcome to the June issue of the Data Exchange newsletter, a production of 
AP Technology - your partner for industry-leading, client-side technologies connecting banks and businesses today. 

In this issue, find out how phishing is changing consumer confidence in online banking and what some financial institutions are doing to combat these cyber attacks. Learn about the new strategic plan for the ACH Network that was highlighted at NACHA's annual conference on electronic payments, and who took home some noteworthy awards.

Something’s Phishy in 2005

Written by Jill Vasant, AP Technology

Phishing is the latest cyber attack to hit the banking industry. This new form of online identity theft is growing rapidly, and it has already tricked millions of internet users into revealing personal financial information. In this article you will learn about the evolution of phishing attacks, see what financial institutions are doing to protect their customers, and be able to assess your own fraud risk.
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Defining the Landscape for the
ACH Network

NACHA’s Strategic Plan Development

PAYMENTS 2005, NACHA's annual conference on electronic payments, was held this year in San Antonio, Texas from April 10-13, and included a review of the industry’s agenda to develop a new strategic plan for the ACH Network. Elliott McEntee, NACHA’s President and CEO, hosted the forum that gathered input from five panelists and the payments industry audience. This article will summarize some of the educated perspectives and discussions from this forum, and what is happening with the strategic plan.
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Congratulations to the NACHA
Award Winners!

As named at Payments 2005

CheckFree and National City Receives NACHA Quality Awards

“The ACH Quality Award (named in honor of the late Kevin O’Brien, NACHA’s Chairman in 1999-2000) showcases best practices and forward-looking business practices among ACH participants,” said Mary Ann Francis, former Chairman of NACHA’s ACH Quality Task Force and a Senior Vice President at National City Corporation. 

Read More … “CheckFree Receives NACHA Quality Award for ARC Processing”

Read More … “National City Receives NACHA Quality Award for Integration of Check and Electronic
                       Payment Systems”

Citigroup Boards the ARC, Receives NACHA's 2005 Payments System Award

The George Mitchell Payments System Excellence Award (named in honor of the late George Mitchell, former vice-chairman of the Federal Reserve Board of Governors) is given to an individual, company or other organization that has shown superior leadership in the development, implementation or advancement of electronic payments.

Read More … “Citigroup Boards the ARC, Receives NACHA’s  2005 Payments System Award”

CheckFree Introduces e-Check Bridge, a Solution to Mitigate Risk for
Corporate Check Conversion Fraud

In April of this year, CheckFree Software, a division of CheckFree Corporation, introduced CheckFree e-Check Bridge (TM), a software module that links two industry-leading bank operation solutions, CheckFree PEP+(R) and CheckFree ARP/SMS(TM), to ensure that converted corporate checks do not bypass the positive pay process. By comparing original check information to the electronic transaction, e-Check Bridge mitigates risk and bridges the gap between the Automated Clearing House (ACH) processing platform, check reconcilement and positive pay fraud detection systems in corporate check conversion.

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CheckFree and Hyland Software Offer End-to-End Solution Enabling Payee Verification Fraud Protection and Exception Management With Check Images

Also in April, CheckFree Software and Hyland Software, Inc. announced the expansion of their existing partnership to provide CheckFree ARP/SMS(TM) customers with a comprehensive solution for payee-enabled positive pay for fraud protection capabilities. With check fraud at an all-time high, CheckFree and Hyland developed an end-to-end, integrated solution, combining the power of CheckFree Payee Verification Module's payee positive pay processing engine with the imaging and workflow capabilities of Hyland Software. This combined solution includes state-of-the-art payee capture methods and image-enabled exception management from Hyland Software, coupled with CheckFree Software's integrated, real-time Payee Verification and reconciliation platform.

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AP Technology and CheckFree Software are strategic business partners.

Easy Check Fraud Technique Draws Scrutiny
Posted May 24, 2005
From MSNBC News, by Bob Sullivan
Ever written a check? Your account could be targeted, too. It would be music to any non-profit organization’s ears: an unexpected $1,000 donation. But the offer came with dirty strings attached, and the surprise donation to California-based Urban Age Institute was hardly a gift at all. Instead, it placed the organization right in the middle of an extensive — but elegantly simple — worldwide scam. 
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Safeguard your Business, and your Customers, from Fraud
Posted June 3, 2005
From the Denver Business Journal, by Kat O'Shea
Companies of all sizes face constant danger of being defrauded by people both inside and outside their business walls. To keep yours from falling prey, there are numerous protective measures you can employ. VIEW ARTICLE

Banks Ride ARC to Record Wave of ACH Payments

Posted Monday April 11, 2005

From PR BusinessWire

More than 12 billion automated clearing house (ACH) payments were made in 2004, a 20 percent increase over 2003, according to statistics released today by NACHA - The Electronic Payments Association at its PAYMENTS 2005 conference.

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Q: Is SecurePay compatible with my accounting application?

the ANSWER

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