The NACHA Challenge, a team competition — worth $25,000 in prize money — is designed to foster new ways to to leverage and create innovative solutions to improve efficiencies and added capabilities within the payments ecosystem. This year’s “challenge” focuses on innovative solutions that enable consumers to securely and easily supply enrollment information for ACH payments. The NACHA Challenge is open to innovators, thinkers and practitioners from any entity, including corporates, academic institutions, nonprofits, think tanks, financial institutions, solution providers and others.
New technologies and business processes, and evolving customer behavior and expectations are transforming the payments industry. NACHA is challenging the marketplace to submit solutions — existing or proposed — that enable even more consumers, businesses and governments to use and benefit from ACH payments. Teams are encouraged to think big and creatively. Submission topics are not limited other than they should have direct relevance in whole or in part to the use of ACH.