Nacha is proud to welcome LexisNexis® Risk Solutions as the exclusive Preferred Partner in the category of Official Registrar of Routing Numbers. With its comprehensive and up-to-date routing data, LexisNexis® Risk Solutions joins a distinguished group of organizations working with Nacha to enhance the ACH Network's efficiency and reliability.
"Accurate ACH payment routing relies on the availability and use of accurate and up-to-date routing data," said Michael Herd, Executive Vice President of ACH Network Administration at Nacha. "We look forward to working with LexisNexis Risk Solutions as a Nacha Preferred Partner to enable ACH Network participants to have the best and most up-to-date routing data."
Account validation providers that fail to keep current with routing number changes end up relying on outdated information which can result in a valid routing number being inaccurately rejected. That, in turn, blocks the creation of ACH payments. By partnering with Nacha, LexisNexis Risk Solutions is allowing more participants in the ACH Network to access accurate, up-to-date payment information, ensuring that payments are processed in a timely manner and reducing the likelihood of failed payments.
"The ACH Network underpins the U.S. payments industry, but inaccurate or outdated data can still lead to failed payments," said Edward Metzger, Vice President, Payments Efficiency for LexisNexis Risk Solutions. "We are the source of all routing numbers required for processing payments through the ACH Network. Our partnership with Nacha helps ACH users receive the most up-to-date data continuously, enhancing customer experience and operational efficiency."
The LexisNexis® Bankers Almanac® Routing Transit Number (RTN) File enables efficient banking information searches for setting up, investigating and correcting payments. It offers vital, up-to-date data on financial institutions and payment routing details for nearly 10,000 U.S. financial entities and more than 100,000 branches and locations, making it an essential tool for U.S. payments professionals.
The American Bankers Association designated Bankers Almanac®, now part of LexisNexis Risk Solutions, as the registrar more than one hundred years ago. Today, it continues to serve as the official registrar of routing numbers in the U.S.
Nacha's Preferred Partner Program features organizations that support the payments industry by providing products and services that align with Nacha's core strategies. To learn more about the Nacha Preferred Partner program, visit Nacha’s Preferred Partner page.
About Nacha
Nacha governs the thriving ACH Network, the payment system that drives safe, smart, and fast Direct Deposits and Direct Payments with the capability to reach all U.S. bank and credit union accounts. There were 31.5 billion ACH Network payments made in 2023, valued at $80.1 trillion. Through problem-solving and consensus-building among diverse payment industry stakeholders, Nacha advances innovation and interoperability in the payments system. Nacha develops rules and standards, provides industry solutions, and delivers education, accreditation, and advisory services.
About LexisNexis® Risk Solutions
LexisNexis® Risk Solutions harnesses the power of data, sophisticated analytics platforms and technology solutions to provide insights that help businesses across multiple industries and governmental entities reduce risk and improve decisions to benefit people around the globe. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information-based analytics and decision tools for professional and business customers. For more information, please visit LexisNexis Risk Solutions and RELX.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241021713872/en/
Contacts
Dan Roth
Nacha
571-579-0720
media@nacha.org
