HOULTON, Maine — In honor of National AAP Recognition Day Feb. 13, Katahdin Trust joined the National Automated Clearing House Association in recognizing Accredited ACH Professionals (AAPs) and the integral role they play in managing electronic transactions for a vast number of financial institutions and businesses of all sizes.
Automated Clearing House (ACH) is an electronic network for financial transactions that processes electronic payments such as direct deposits, payroll and vendor payments. NACHA recently implemented same-day ACH, allowing customers to initiate electronic payments and receive funds even faster. Later in 2018, both electronic deposits and payments will be available by 5 p.m. local time.
Katahdin Trust has two AAP accredited employees on staff: Sarah Silliboy, BSA officer and a 14-year employee, and Jessica Buckley, bank operations supervisor and a 10-year employee.
According to bank officials, AAPs are an elite group of highly skilled and educated payments professionals who are recognized and relied on for their payments expertise and abilities to help organizations remain in compliance with industry rules and regulations.
“We congratulate Sarah and Jessica on their success in obtaining this accreditation,” said Katie Hill, assistant vice president and bank operations manager. “Their knowledge and expertise helps the bank to experience operational efficiencies, enhance risk management oversight, improve regulatory compliance, and increase customer service and satisfaction.”
To be awarded the AAP credential, individuals must pass a comprehensive exam that is administered by NACHA each fall. The exam tests an individual’s knowledge of subjects including the NACHA Operating Rules, the ACH Network and other payments systems, technical and operational ACH requirements, risk management, and payments-related regulations. More than 4,500 professionals currently hold the credential.
On Feb. 13, a U.S. flag was flown above the U.S. Capitol building in Washington, D.C., in recognition of all AAPs nationwide.
