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TFP and ACH Commerce Expand Partnership to Streamline ACH Processing for Financial Institutions
Added: 03/24/2004
Type: Summary
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TFP and ACH Commerce Expand Partnership to Streamline ACH Processing for Financial Institutions

TFP and ACH Commerce alliance improves efficiency and reduces administrative errors for corporations and financial institutions.

TFP, a provider of data and software solutions for financial and corporate institutions and ACH Commerce, a leading developer of ACH Payment Solutions, today announced an expansion of their strategic partnership to help corporations and financial institutions streamline ACH processing and reduce costs.

TFP will provide its EPICWARE™ ACH payment routing validation solution and transit number file data for integration into BulletScanä, a high-speed check capture and conversion solution from ACH Commerce. BulletScan helps corporations and financial institutions quickly and accurately determine payment routing instructions for processing Accounts Receivable Conversion (ARC) payments and return check items (RCK).

BulletScan can be deployed as an in-house or ASP solution, and may be used by a single corporation, or by a financial institution or third party processor that provides check capture and conversion services for multiple companies. EPICWARE is an interactive processing tool that improves the efficiency of converting MICR line data-routing numbers and account configurations into ACH payments.

“TFP and ACH Commerce are providing corporations and financial institutions with one of the most efficient and cost-effective ways to manage expensive check payments,” said Glenn Gottfried, president of TFP. “Building on our success, ACH Commerce and TFP have expanded their partnership to offer a robust, full-featured check capture and conversion solution that has been traditionally available only to the largest corporations and banks.”

TFP and ACH Commerce began their relationship in 2001, when ACH Commerce first integrated a portion of TFP’s routing number information into some of its products. In 2003, ACH Commerce integrated TFP’s EPICWare solution into its Web-based MobileScan, ACH Station and TransitPost/FastLink products for ARC, RCK, POP, WEB & TEL payment processing. These applications are accessible to financial institutions through ACH Commerce’s portal at www.achcommerce.com.

“TFP provides the highest quality data in the financial services industry today and that is a measurable advantage for clients working with ACH Commerce,” said Deborah Hickok, president of ACH Commerce. “By integrating EPICWare into Bullet Scan, corporations and financial institutions will be able to improve upon the accuracy and efficiency of the check conversion process, thus reducing the expense of handling these items.”

ACH Commerce will act as a re-seller of EPICWare™ and TFP’s Routing and Transit Number File®.

About ACH Commerce
ACH Commerce is a leading developer of ACH and check conversion solutions for corporations and financial institutions across the country. ACH Commerce partners with financial institutions to provide a suite of cost-effective ACH solutions, as well as consulting services that leverage the power and efficiency of ACH processing. ACH is a member of NACHA's Electronic Check Council, TACHA and GACHA. Based in Ooltewah, Tennessee, ACH Commerce can be reached at 800.724.8780, or www.achcommerce.com.

About TFP
TFP, (www.TFP.com), a division of Thomson Media, is a leading provider of data and software solutions for financial and corporate institutions worldwide. TFP’s product lines include Payment Efficiency, Risk Reduction, Marketing Services, Reference Tools for Banking™ and Specialized Outsourcing. TFP’s solutions assist in accurately originating payments to realize higher payment STP rates; facilitating the repair of rejected transactions; ensuring compliance with global anti-money laundering and anti-terrorism requirements and guidelines, including the USA PATRIOT Act, Bank Secrecy Act, Wolfsberg Principles, regulatory agencies such as the U.S. Treasury’s OFAC and policy-making bodies such as the Financial Action Task Force. TFP maintains the most authoritative and comprehensive databases of financial institutions globally and has been the official routing number registrar for the American Bankers Association since 1911. For more information, visit TFP on the Internet at www.TFP.com or call 847.676.9600.

About Thomson Media
Thomson Media (www.thomsonmedia.com), a division of The Thomson Corporation, is a leading provider of information, data and software tools for professionals in the financial services and related technologies markets. Its primary products and businesses include: American Banker, Financial Planning, National Mortgage News, The Bond Buyer, Securities Industry News, Accounting Today, Credit Card Management, TFP’s The Global Banking Resource and Payments & Risk Solutions Products, and Sheshunoff Information Services. More than 750,000 clients use Thomson Media's publications, databases and work solutions worldwide.

About The Thomson Corporation
The Thomson Corporation (www.thomson.com), with 2003 revenues of $7.6 billion, is a global leader in providing integrated information solutions to business and professional customers. Thomson provides value-added information, software tools and applications to more than 20 million users in the fields of law, tax, accounting, financial services, higher education, reference information, corporate training and assessment, scientific research and healthcare. With operational headquarters in Stamford, Conn., Thomson has approximately 43,000 employees and provides services in approximately 130 countries. The Corporation's common shares are listed on the New York and Toronto stock exchanges (NYSE: TOC; TSX: TOC).


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