PLYMOUTH, Minn., April 18, 2016 /PRNewswire/ -- ClickSWITCH, a turnkey solution that simplifies the switch of recurring payments and deposits for a financial institution's new and existing account holders, announced today that they have teamed up with Upper Midwest Automated Clearing House Association (UMACHA) to switch account holders' corporate payments, direct deposits and government payments electronically.
"The way account holders switch accounts continues to evolve thanks to the API built by ClickSWITCH," said Fred Laing, II , President & CEO UMACHA. "We are pleased to be working with them to help formulate the future by revolutionizing the traditional account switch."
With ClickSWITCH, account holders can initiate a switch of recurring payments and deposits from their former financial institution in as little as 10 minutes using a mobile device or personal computer. Their relationship with UMACHA has enabled ClickSWITCH to take an industry based on paper and move it to the electronic frontier using ACH rails for communication. ClickSWITCH is working to create the industry standard for electronic payment switching with participating merchants through the ACH network.
"We're very excited to work with UMACHA," said Michael Stromberg, CTO of ClickSWITCH. "Due to our partnership we are able to increase our switch efficiency, 'go green' and drastically reduce the paper consumption associated with switching financial institutions. We thank UMACHA for assisting us in the continued advancement of our technology.
About the Upper Midwest Automated Clearing House Association (UMACHA)
UMACHA is a nonprofit association providing guidance on electronic payments rules and risk management practices, process optimization, and rules compliance. Founded in 1974 and headquartered in Brooklyn Park, Mn., UMACHA provides pragmatic and insightful advice and training that helps its member base of financial institutions, government organizations, and corporate entities maximize the benefits achieved from their participation in the Automated Clearing House (ACH) network. For more information, please visit www.umacha.org.
ClickSWITCHTM is a unique account holder acquisition technology for financial institutions that simplifies the process of bringing new customers onboard by quickly, safely and efficiently switching their recurring payments from their old accounts to new ones. Based in Eagan, MN, the company's industry-leading solutions help clients to increase account holder acquisition and activation rates, engage during onboarding, and cross-sell products to capture full profit potential. ClickSWITCH is a technology leader delivering world-class solutions to financial institutions of all sizes. To learn more, visit www.ClickSWITCH.com.
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