More than 9,000 Third-Party Senders
Four months after registration for the NACHA Third-Party Sender Registration Database initially opened, a first look at complete statistics is now available. As of the end of June 2018, 5,133 Originating Depository Financial Institutions (ODFIs) have registered their Third-Party Sender status. Of those, 698 ODFIs (13.6 percent) registered a total of 9,096 TPS relationships. 324 TPSs are registered by multiple ODFIs.
In other registration databases:
- The Emergency FI Contact Database has received registrations from approximately 540 financial institutions, both ODFI and Receiving Depository Financial Institutions (RDFIs). Those FIs have contributed over 1,500 emergency contacts. An additional 950 ODFIs and RDFIs have opted-in to this Database, but have not yet populated any contacts. NACHA is contacting each of the 950 to encourage them to populate contacts. This database is designed to include contact information for multiple key FI personnel. Typically ODFIs/ RDFIs contribute operations and processing contacts; however, they should consider adding internal IT, security, or risk personnel as contacts. A variety of contacts greatly increases the value of the Database.
- The Terminated Originator Database (TOD), where participants are able to perform part of their due diligence for KYC (Know Your Customer) by adding information on, investigating new, and periodically verifying Originators and Third-Party Senders, is at its all-time highest level of participants since inception in 2013. Almost 1,000 participants are now registered to contribute to and query on the TOD.
The Database is part of the Third-Party Sender Registration Rule which became effective March 1, 2018. The rule requires ODFIs to identify and register their Third-Party Sender (TPS) customers. The registration process promotes consistent customer due diligence among all ODFIs, and serves as a tool to support NACHA’s continuing efforts to maintain ACH Network quality. The TPS Registration database is housed in NACHA’s secure Risk Management Portal.
Information on the Risk Management Portal and the Databases it houses, can be found at https://www.nacha.org/riskmanagementportal