Innovative Risk Management Tools Drive ACH Direct's Record Growth in 2005

ACH Direct, Inc., a leading technology provider of Automated Clearing House, credit card and debit card payments processing and risk management services, today announced record growth in 2005. ACH Direct processed more than $5 billion in transactions, a 56% increase over 2004.

“The demand for viable authentication solutions was a contributing factor in our record growth last year,” said Jeff Thorness, President and CEO of ACH Direct. “In 2005, regulatory guidance sharpened the focus on technology solutions for addressing the increasingly sophisticated threats of fraud and identity theft.”

“In today’s environment it’s important to know that the person purchasing goods and services is exactly who they say they are. With the help of cutting edge technology like ACH Direct’s IDVerify products, companies can determine in real-time the likelihood that the prospective customer is who they claim to be, thus dramatically reducing potential losses,” explained Thorness.

IDVerify was designed to defend against fraud, identity theft, terrorism and money laundering. IDVerify can be used by ACH processors, software companies, car dealerships, financial institutions, payday loan operations, insurance companies, government, check cashing companies, brokerage firms, mortgage companies, to name a few. IDVerify aggregates the highest quality data sources available today and combines that with its own sophisticated programming methodology, verifying a customer’s identity in seconds.

Thorness added, “Check losses are also a threat to the bottom line of many companies. We’re helping more customers than ever cut their bad check volume. By using our ATMVerify product, merchants effectively reduce transaction losses and can accept more checks with greater confidence.”

With the ATMVerify system, merchants have a shortened risk window due to immediate risk assessment without the returned item. Users are alerted to suspicious account activity. ATMVerify can be used for a variety of applications, such as check acceptance at retail, bill pay, online, telephone or mail orders, and by collection agencies.

“ACH Direct is committed to end-to-end security, including compliance with the standards of CISP, the Cardholder Information Security Program,” said Thorness. “Our leadership in developing risk management tools, the progressive technology we provide, and our superior customer care have positioned ACH Direct for another record-breaking year in 2006.”