ACH payments modernization for the US mid-market
ACH processing remains a “must have” channel for US Financial Institutions (FIs) as volumes grow and new features are added. Mid-market organizations, such as Community Banks and Credit Unions need a cost effective way to modernize their solutions.
As with other payment rails in the current “Perfect storm” of changes in the payments industry, legacy ACH solutions, whether developed by vendors or in house, are feeling the pressure of continued support to cope with increasing volumes and innovation.
- In 2024, Same Day ACH payment volume topped the 1 billion mark, with more than 1.2 billion payments for the year. The value of those payments was $3.2 trillion.
- From 2023 to 2024, Same Day ACH volume soared 45.3%, more than double the growth rate from 2022 to 2023.
- ACH Network payment volume rose 6.7% from 2023 to 2024, to 33.6 billion payments in 2024. The value of those payments was $86.2 trillion, an increase of 7.6%.
This infographic looks at data from recent reports which indicate the importance of modernizing ACH solutions, and how implementation of Finastra’s modern Payments-as-a-Service (PaaS) solution, Payments To Go, is ideally suited to US mid-market organizations. As a PaaS solution, with rapid onboarding and Time To Value, Payments To Go levels the playing field when it comes to accessing new, open technologies, for organizations such as Community Banks and Credit Unions. Payment To Go allows them to modernize their payments architecture with lower cost, effort, and risk - for the future of ACH and also, as a true multi-rail payment hub, any other payment types that they wish to transition in line with their business and operational objectives.
