ACH File Encryption for Banks

You could heavily restrict access to the folder and use an automated encryption tool to pick up and auto-encrypt the file before sending.  It isn’t fool proof but it should give what is requested here.

I don’t believe that IFS can output the file in any kind of encrypted format natively since you’re already (presumably) using the native ISO20022 or whichever output mechanism that doesn’t seem to have it as an option.

FWIW, we’re finding that the ISO20022 standard isn’t giving us an ACH file that aligns to our bank requirements… hopefully you have more luck with JPM.  For simplicity we’re looking at maybe needing to completely build a new ACH package and output to e.g. a CSV type file if we can’t figure out how to adjust it to be more aligned to the ISO standard.

Nick

Hi Nick,

NACHA has already released their ISO20022 conversion and it is possible to do ACH payment via ISO20022. I have attached some info herewith ( recent PPT which I presented)

Anyway, encryption is a challenge. IFS will provide a plain XML in the required format and if you don't directly upload the file to the bank portal, you might worry about the security of the contents. If the bank allows you to integrate the handover, it is possible to do an integration with the bank. 

Best Regards

Eranda

This is excellent Eranda - thank you so much for sharing.

Nick

You are welcome Nick. Try hard to go for a ISO20022 based Credit Transfer solution rather developing an old style ACH solution.Feel free to contact me if you have a doubt.

e.maldeniya@e-analytics.com