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  • Contains 11 Component(s), Includes Credits

    As globalization continues, both for consumers and businesses, it is important to understand the nuances of international payments.

    *This course is worth 1 AAP and APRP continuing education credit

    As globalization continues, both for consumers and businesses, it is important to understand the nuances of international payments. This course will set the stage by first covering some trends and factors that influence international payments. We will then take a deeper dive into payments/collections, International ACH, instant/faster payments around the globe and regional highlights.

    Prerequisites (if any): None

    Level: Beginner & Intermediate

    Learning Outcomes

    • Identify factors that influence international payments and their development
    • Explain different types of international payments and collections and revenue drivers
    • Explain how International ACH typically works
    • Identify different types of faster/instant payment schemes and learnings from them
    • Describe market differences in regional payments that can lead to innovation

    Skills Covered in this Course: International payments knowledge, international ACH, revenue drivers in international payments, economic factors involved in payments

    INSTRUCTOR: Jane Hennessy

  • Contains 1 Component(s)

    Malicious cyber activity threatens the safety and security of financial and intellectual property – including payments rails. Instructor introduces the terminology and basic concepts of the current threat landscape of identity theft.

    This course is not currently eligible for AAP or APRP credits due to length

    Malicious cyber activity threatens the safety and security of financial and intellectual property – including payments rails. Schemes continue to grow and evolve, targeting legitimate businesses, nonprofits, governments, and other public-sector organizations. Fraudsters are looking to exploit gaps in information security. Instructor introduces the terminology and basic concepts of the current threat landscape of identity theft. These schemes include business email compromise, vendor impersonation fraud, and payroll impersonation fraud; and will discuss why fraudsters are motivated to attack using ploys such as spear-phishing, social engineering, email spoofing, and malware. Instructor then provides sound practices to combat these threats, discussing measures for end users to ensure their internal controls will guard against and mitigate these scams, and the importance of maintaining agility to adapt as schemes change. 

    Prerequisites: None

    Level: Intermediate

    Learning Outcomes:

    • Describe the cybercrime threat landscape and the impact on stakeholders.
    • Identify the various techniques by which cybercrimes are perpetrated.
    • Realize ‘why’ fraudsters are motivated to attack in this manner.
    • Take away guidance on achieving and maintaining safety and security within their organization’s internal controls.

    Skills: Cybercrime; Identification; Attention to Detail; Mitigation

    INSTRUCTOR:

    Jeanette A. Fox, AAP, Nacha

  • Contains 8 Component(s)

    ACH newcomers often struggle to understand who is who in the ACH process flow because the nomenclature is unfamiliar. For the Novice: ACH Participants Explained will provide a description, in layman’s language, of the main players in an ACH transaction.

    *This course is currently not worth AAP or APRP credits due to length

    When entering a new field, it is imperative to learn common terms in order to lay a foundation for additional learning. ACH newcomers often struggle to understand who is who in the ACH process flow because the nomenclature is unfamiliar. For the Novice: ACH Participants Explained will provide a description, in layman’s language, of the main players in an ACH transaction.

    The first chapter in the module will be an overview of the ACH transaction flow as a level setting exercise. The chapters that follow will cover the role of each ACH participant in the transaction flow and its fundamental responsibilities under the Nacha Operating Rules.

    Questions answered by this session:

    1. Who are the main participants in an ACH transaction?
    2. What is each participant’s role?

    Prerequisites: None

    Level: Beginner

    Learning Outcome: Attendees will have a basic understanding of the participants in the ACH transaction and will be prepared to explore the roles and responsibilities of each ACH participant in more detail.

    Skills Covered in this Course: ACH Basics, ODFI, RDFI, ACH Operator, Originator, Receiver, Third-Party Service Provider

    INSTRUCTOR:

    Danita Tyrrell, AAP, APRP, Nacha

  • Contains 9 Component(s), Includes Credits

    This series of courses dives into the card networks, beginning with a history, moving into technology and evolution, and more.

    *This course is eligible for 1.2 AAP or APRP Continuing Education Credits


    PART I: HISTORY OF THE CARD NETWORKS

    The concept of a “credit card” has been around for over 150 years. Evolving from a paper ledger allowing for customers to purchase goods and pay later, to the mechanisms to access checking accounts, through a debit card. Now, new and innovative payments that take advantage of these existing card network rails.  Amy Morris, a Senior Director at Nacha who works with payment system rules, previously working at Visa, gives a brief history of the popular card brands used today.

    The course explains the different types of card brand models and how they shaped card network evolution, bringing us to the most common brands we know today. She explains the events in history that have had significant impact on card brands, as well as the shifts in corporate structure that American Express, Discover, MasterCard and Visa have made over the last 75+ years, and how the private label model continues to inspire innovation in the payments industry.

    Questions answered by this course:

    1. What are the differences between card networks and how does card transaction processing work?

    2. What is the role private label cards have played in innovation?

    Prerequisites (if any): None 

    Level: Beginner

    Learning Outcomes:

    • Define the different types of card networks
    • Identify the origins of the most recognizable card brands today
    • List important events that have shaped the card industry and organizations

    Skills Covered in this Course: Payment Cards, Credit Cards, Debit Cards, Payments Technology

    Instructor:

    Amy K. Morris, Nacha

    PART II: TECHNOLOGY & ITS EVOLUTION

    It is often difficult to imagine how card usage all started and the rate at which growth has taken place.  That in itself makes it even harder to believe credit card processing started out at a snail’s pace from an end to end perspective.  Sometime ago there were manual card imprinters to capture an image of the card to submit for payment.  In addition, upfront card authorization and approval were not part of completing a credit card transaction.  Today, processing a card transaction appears to happen in fraction of second.

    This course will explain the card technology and its evolution as a whole.  The instructor will provide an overview of the technological advancements while connecting the dots with evolution over time.  By the end of this course one should have a clear understanding of where card processing started and how it progressed to what we see today.

     Questions answered by this session:

    • 1.What are the significant card technology advancements since the beginning?
    • 2.What are the impacts of credit card evolution?

    Prerequisites (if any): History of Card Networks

    Level: Beginner - this course would be ideal for individuals who are looking to continuing to expand their understanding of card history and its evolution.

     Learning Outcomes:

    • Able to explain, at a high level, the evolution of credit card evolution
    • Identify key milestones in Credit Card technology
    • Describe historical impacts to advancement in Credit Card processing

     Skills Covered in this Course: Credit Cards, Payment Technology

    Instructor:

    Aaron Baskerville, Discover

  • Contains 7 Component(s)

    Learn what risks are involved in processing paper checks and electronic checks (check images) and possible ways your financial institution may mitigate those risks.

    *This course is not eligible for AAP or APRP Continuing Education Credits

    The check payment system is one of the oldest forms of making a payment and just like any other payment system, there are risks involved. The introduction of electronic checks helped speed up check processing, however; there were additional risks that accompanied moving from paper to electronic. Learn what risks are involved in processing paper checks and electronic checks (check images) and possible ways your financial institution may mitigate those risks.

    Prerequisites (if any): None 

    Level: Beginner

    Learning Outcomes:

    • Identify the various check payments risks.
    • Implement check risk mitigation methods.
    • Discover check products your institution offers that might pose a higher risk.
    • Determine check products that help mitigate check payment risks.

    Skills Covered in this Course: Risk assessment, Risk management, Risk responsibility

    Instructor:

    Marcy Cauthon, Director On-Demand Education, EPCOR

  • Contains 12 Component(s)

    Today, consumers and businesses alike have more options than ever before to transfer funds. One of those options is to send a wire transfer, also called a funds transfer, or simply wire for short.

    *This course is not eligible for AAP or APRP Continuing Education Credits

    Today, consumers and businesses alike have more options than ever before to transfer funds.  One of those options is to send a wire transfer, also called a funds transfer, or simply wire for short.  In a time when the payments industry is focused on speed and security, it’s important to understand where wires fit into the U.S. payments ecosystem.  Stacey Gross, AAP, APRP, Senior Sales Engineer at Fiserv – a payments professional with more than twenty years of experience supporting electronic payments – introduces you to the foundational elements of wire transfers.  In this introductory course, you’ll learn what a wire transfer is, its characteristics, the participants and networks used for sending U.S. dollar wires, and finally, the benefits and common use cases for sending a wire.  This course is entry-level, intended for those in the banking and financial services industry, who may be new to electronic payments and looking to build a foundational understanding of wire transfers.

    Stacey begins by explaining what a wire transfer is, including its characteristics.  Next, she’ll introduce you to the U.S. dollar wire participants and networks.  To wrap up the course, Stacey describes the benefits and common use cases for sending a wire transfer, including factors to consider when determining if sending a wire is the best option for the sender, factors such as speed and finality.

    Questions answered by this session:

    • What is a wire transfer?
    • What are the characteristics of a wire transfer?
    • Who are the U.S. dollar wire transfer participants?
    • What are the U.S. dollar wire transfer networks?
    • What are the benefits and common use cases for sending a wire transfer?

    Prerequisites (if any): None 

    Level: Beginner

    Learning Outcomes:

    • What is a wire transfer?
    • What are the characteristics of a wire transfer?
    • Who are the U.S. dollar wire transfer participants?
    • What are the U.S. dollar wire transfer networks?
    • What are the benefits and common use cases for sending a wire transfer?

    Skills Covered in this Course: Wire Transfers, Fedwire® Funds Service, CHIPS®, SWIFT®

    Instructors:

    Stacey Gross, AAP, APRP, Fiserv

  • Contains 3 Component(s)

    Consumer bank account holders leverage the ACH Network to make electronic payments for many reasons such as bill payment, online purchases, subscriptions, and person to person money transfers. Businesses including governments and other types of organizations leverage the ACH Network to make electronic deposits into consumer accounts for payroll or disbursements. Businesses and consumers rely on the efficiency and speed of ACH payments and therefore it is a priority that processes be in place to avoid processing exceptions and fraud.

    *This course is not eligible for AAP or APRP Continuing Education Credits

    Consumer bank account holders leverage the ACH Network to make electronic payments for many reasons such as bill payment, online purchases, subscriptions, and person to person money transfers. Businesses including governments and other types of organizations leverage the ACH Network to make electronic deposits into consumer accounts for payroll or disbursements. Businesses and consumers rely on the efficiency and speed of ACH payments and therefore it is a priority that processes be in place to avoid processing exceptions and fraud. Account validation is a valuable “pre-payment” tool that can greatly reduce exceptions and provide end users with confidence and a positive digital payment experience.

    George Throckmorton will begin by providing the definition and description of account validation for ACH transactions. This will include the history of account validation for ACH transactions and the continued evolution of tools and technology. With a baseline understanding of account validation established, he will then discuss why account validation is considered a best practice for businesses and the value to consumers. Nacha’s ongoing commitment to the safety and security of the ACH Network resulted in a Nacha Operating Rule specific to account validation for online and mobile transactions. Amy Morris will provide a detailed overview of the rule and compliance considerations. Amy will discuss “commercially reasonable” methods for account validation and following that, George will demonstrate the various methods for account validation available to originators. Finally, he will review decisioning and next steps for originators to implement best practice processes and procedures that ensure compliance and desired user experiences.

    Questions answered by this session:

    • What is account validation for ACH transactions?
    • What are the benefits of account validation for businesses and consumers?

    Prerequisites (if any): None 

    Level: Beginner

    Learning Outcomes:

    • Understanding of Account Validation for ACH transactions
    • Comprehensive review of the Nacha Rule for supplementing fraud detection standards for WEB debits
    • Understanding of account validation options for compliance
    • Assessment of current account validation processes and new process or technology planning

    Skills Covered in this Course: Regulatory Compliance, Risk Management, Consumer Protection

    Instructors:

    George Throckmorton, Nacha

    Amy Morris, Nacha

  • Contains 3 Component(s)

    ​This course is part of a multiple course sequence on the legal phrase “commercially reasonable.” The first course covers the historical background of the use of “commercially reasonable” and the reasons why lawmakers began to use this term to set a standard of behavior specifically for commercial entities.

    *This course is not eligible for AAP or APRP Continuing Education Credits at this time, but will be once additional components are added.

    This course is part of a multiple course sequence on the legal phrase “commercially reasonable.” The first course covers the historical background of the use of “commercially reasonable” and the reasons why lawmakers began to use this term to set a standard of behavior specifically for commercial entities. The second course covers the use of the phrase “commercially reasonable” in the Uniform Commercial Code.  Most importantly, this second course closely examines the way that the “commercially reasonable” standard of care is used in section 202 of UCC Article 4A, which protects a bank from being liable for an unauthorized transfer if the bank offers its customer a “commercially reasonable security procedure” and meets some other conditions.  Section 4A-202 is hugely important in the payments business. As the purpose changes, the meaning of “commercially reasonable” continues to evolve.

    The course content is relevant for learners in two specific ways and a third more general way. First, every person who touches commercial funds transfers, whether wires or ACH commercial items, or B2B credit transfers in newer payments schemes, needs to develop a clear understanding of the requirement to provide, and get the customer to agree to, up to date security procedures. Second, every person in the banking and payments business is increasingly likely to need to understand the practical impact of a regulation, private sector rule, or contract that requires a bank, a service provider or a customer to act in a commercially reasonable manner. Finally, the case study of “commercially reasonable” security procedures will help the learner understand the wider impacts of digitization and evolving cyber threats.

    Prerequisites (if any): None 

    Level: Suitable for both beginner and intermediate learners.

    Learning Outcomes: 

    • After the first module on “commercially reasonable”, Learners should be able to distinguish the practical differences between three legal standards of care: the reasonable person standard, the commercially reasonable standard, and strict liability.
    • After the second module, Learners should be able to identify all of the parts of the procedures a bank needs to follow to avoid liability for unauthorized funds transfers, and how those procedures will need to be updated to keep up with industry best practices and regulatory guidance.
    • After the second module, Learners should be able to discuss how increasingly sophisticated cyber threats drive the need for improved security measures, specifically to provide “commercially reasonable security procedures” for commercial funds transfers, and more generally with respect to data security and privacy protection.

    Skills Covered in this Course: Fraud management, Risk management, Legal compliance, Authentication, Authorization, System and Data Security, Vendor management

    Instructors:

    Richard M. Fraher, Founder & Principal, Payment Innovation & Regulation LLC

  • Contains 8 Component(s)

    Criminals have long used money laundering ploys to disguise or “clean” the source of fraudulently obtained or stolen funds. This course will review the definitions of money laundering and terrorist financing. The instructor will provide an overview of the significant requirements a financial institution must comply with to help employees unfamiliar with the Bank Secrecy Act understand the Act’s purpose, requirements, and implications.

    *This course is not eligible for AAP or APRP Continuing Education Credits

    Criminals have long used money laundering ploys to disguise or “clean” the source of fraudulently obtained or stolen funds. Money laundering poses substantial risks to the safety and soundness of the U.S. financial industry. With the advent of terrorists who employ money-laundering techniques to fund their operations, the risk expands to include the nation’s safety and security. Financial institutions play a vital role in helping investigative and regulatory agencies identify money-laundering entities and take appropriate action through proper operations. This course will review the definitions of money laundering and terrorist financing. The instructor will provide an overview of the significant requirements a financial institution must comply with to help employees unfamiliar with the Bank Secrecy Act understand the Act’s purpose, requirements, and implications.

    Questions answered by this session:

    • What is the definition of money laundering and terrorist financing?
    • What are the significant requirements of the Bank Secrecy Act?

    Prerequisites (if any): None 

    Level: Beginner, ideal for employees with legal, compliance, audit, risk, fraud management, customer onboarding, and operational roles to gain an understanding of the purpose of the Bank Secrecy Act and, at a high level, the requirements a financial institution must adhere to for compliance with the Bank Secrecy Act

    Learning Outcomes:

    • Have a basic understanding of the Bank Secrecy Act.
    • Understand the definitions of money laundering and terrorist financing.
    • Know the critical requirements of the Bank Secrecy Act.
    • Understand the consequences of non-compliance with the Bank Secrecy Act.

    Skills Covered in this Course: Regulatory Compliance, Risk Management, Fraud Monitoring

    Instructors:

    Kerry Sellen, AAP, APRP, Nacha

  • Contains 4 Component(s), Includes Credits

    Join Nacha's Bill Sullivan for updates on payments and politics.

    * This series is currently worth 2.0 AAP and APRP continuing education credits

    Nacha’s Bill Sullivan provides learners updates on government and regulatory changes impacting payments industry participants and consumers. Updates will be posted as updates become available.