It's Time for the Industry to Embrace Phased-In, Same Day ACH

Published August 17, 2015

Pat Thelen, executive vice president of Treasury Management, Capital Markets and International Banking at UMB Bank, calls for the industry to embrace phased-in, Same-Day ACH.




Banking is the sector at the highest risk of game-changing market shifts. According to the Millennial Disruption Index, millennials believe payments innovation will come from outside their bank, with nearly half showing more confidence in what startups and technology companies add to payments than what their banks do. This presents a challenge and an opportunity for financial institutions moving forward.


As an industry, we're at a crossroads on whether to evolve or be left behind. If we choose not to evolve, we risk becoming irrelevant. Our competitive advantage is our interoperability and ubiquity; our ability to connect payments in a way no other can. At the core of this connected infrastructure is the Automated Clearing House Network, which for 40 years has linked all financial institutions in the United States and served as a backbone of payments. We need to leverage this foundational network – and the opportunity it affords all financial institutions – to take us to the next level...

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Same Day ACH
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