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6 Tools You'll Need to Maintain Nacha-Compliant ACH Payments

July 11, 2022
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Financial institutions face more regulations than most. Given the sensitivity of the data they handle across many industries and the ever-present threat of theft, financial institutions need watertight laws to protect customers. In fact, 63% of financial institutions have experienced an increase in destructive attacks during 2022, an increase of 17% from 2021.

The National Automated Clearing House Association (Nacha) continues to provide significant policy changes across retail and finance markets. Read on to find out which data security tools you’ll need to deploy to stay on the right side of the law.

Network Insight Analysis Tools

 

If you’re a large or medium-sized financial institution, your network is vast and complex. With that in mind, it pays to deploy a Network Insight Analysis Tool to reveal critical threats in real-time.

With the right tools, you can pinpoint the specific location of any infection — and access evidence of the breach — so your security staff can respond before a loss occurs.

Data Loss Prevention Tools (DLPs)

DLPs are an essential part of your security toolbox. They allow you to monitor how data can be shared, arbitrate which data is allowed to leave a network, and block whatever data is not permitted to leave a network.

However, most operate using a probabilistic system, which allows the tool to adapt its operations based on quantitative information about uncertain variables. This means it’s vital to complement your DLPs with a data protection tool that can cover its tracks and cross-check system operations.

Data Protection Platform

The most effective data security platforms help you fuel your decisions with quality, real-time data — making sensitive information simple to access in the right hands and almost impenetrable in the wrong ones.

Protegrity Data Protection Platform’s one-time integration provides cybersecurity solutions to enterprises in any stage of protection. Our system utilizes advanced Vaultless and Keyless Tokenization, AES Standard, and Format-Preserving Encryption protection methods to provide flexible protection, empowering teams across borders with role-based access, protect/unprotect capabilities, and evergreen regulatory compliance.

When comparing data security platforms, choose a solution that offers data protection across all areas where data is stored —on-premises, in the cloud, and in any applications in between. Institutions doing so increase peace of mind and reduce the risks associated with cyberattacks across the board.

Cloud and Hybrid Computing Systems

ACH payments also require you to use a cloud or hybrid computing system to help protect your data.

The best platforms will include security and automation tools that help you prevent misconfiguration errors and implement security best practices. These tools may include incident identification, infrastructure protection, identity and access management, data protection and encryption, compliance services, remediation, and unified security controls.

A Cloud Data Warehouse

A cloud data warehouse is a database stored as a managed service in a public cloud. A few common examples of cloud data warehouses include AWS, Amazon Redshift, Snowflake, Azure, and Oracle.  

Appropriate and compatible warehouse systems enable institutions to analyze large amounts of data and run complex analytical queries quickly and easily. Institutions also leverage cloud warehouses to securely share data with the necessary agents while building applications on top of third-party data.

Employee Education Programs

All the security solutions in the world won’t help if your staff doesn’t know how to stay compliant. With this in mind, keep your workforce up to date with Nacha regulations as they evolve, and make sure they know exactly how they’re allowed to access, transfer, and store data.

Protegrity can help you protect your financial institution from every angle, with any data type, from anywhere while maintaining Nacha compliance. That way, you can operate with higher levels of confidence and lower levels of risk. Find out more here.

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