Viewpointe, a provider of multibank infrastructure solutions for customers ranging from credit unions to Fortune 100 financial institutions, recently introduced its next-generation, Web-based  Viewpointe ACH Originator Compliance Self Assessment.

ACH Compliance Self Assessment offers a better understanding of the NACHA Rules pertaining to the processing of electronic payments. With the help of this Web-based offering, businesses that are initiating ACH payments are able to assess their compliance with network rules. The offering also helps financial institutions meet an audit requirement to educate and train their originator customers.

It includes a series of customizable modules, with questions based upon the obligations of originators under the rules. Company officials confirmed that the modules are periodically updated as the rules are amended.

It is the responsibility of the originators that are initiating payments to the Automated Clearing House network through financial institutions or third-party senders, to abide by the rules.

The new Viewpointe offering provides originators a tool that allows them to assess their own compliance with the Rules.

“Today, many institutions rely on written materials to meet their obligations to educate Originators,” said Alexandria Andreeff, Viewpointe vice president, in a statement. “However, there is no way that they can determine whether the material is understood, or even read. Our offering gives institutions a simple, online method for assessing Originators’ progress with the material, while also providing the Originators a guide for understanding their own compliance.”

Karroll Searcy, director of association services for Viewpointe Clearing, Settlement & Association Services, said, “As regulators increasingly focus on consumer protection, scrutiny on Originator compliance with the Rules has intensified. In particular, processors are heavily monitored. Because breaching the Rules can carry penalties for both the Originator and its partner institutions, our members are asking for up-to-date, easy-to-access training solutions.”

In related TMC (News - Alert) news, Viewpointe announced that the United States Patent and Trademark Office has issued United States Patent Number 8,320,635 to the company for its image quality invention.