Fiserv (Brookfield, Wis.) has launched a new module for its PEP+ Automated Clearing House processing platform called NOC Manager. NOC Manager is designed to automatically update, monitor and manager notifications of change (NOC) alerts to fulfill NACHA processing requirements.
Fiserve developed this module in response to the growing use of ACH and the anticipated surge in non-compliance NACHA Rules violations related to NOC updates. These violations can result in fines levied against the bank. NOC Manager from Fiserv is designed to fully automate the NOC change process and verify that changes have been made prior to resubmission into the ACH payment network.
NOC Manager is designed to allow banks to store NOC information on behalf of corporate originators and automatically correct future items. The module is also designed to collect all NOC information for any originator—on-us and off-us—including any NACHA SEC (Standard Entry Class) Codes. In addition, the receiver side of NOC Manager allows banks to track NOCs they created that were ignored or not acted upon appropriately.
PEP+ is an online, real-time system that enables the origination and receipt of electronic payments through the ACH.