DALLAS, Dec. 9, 2016 /PRNewswire/ -- The Electronic Clearing House Organization ("ECCHO") today announced that it is exploring possible strategic opportunities.
ECCHO (www.eccho.org), a nationwide bank check clearing house with almost 3,000 depository institution members, is exploring possible strategic opportunities that may be available with other organizations.
"ECCHO has been instrumental in supporting the financial services industry's successful migration from paper checks to electronic check images. We believe that the U.S. payments system is on the threshold of another milestone transformation, due in part to the financial services industry's and Federal Reserve's efforts to develop faster payments and related technological advancements. ECCHO wants to ensure that it is best positioned to continue to support check image exchange and to facilitate the upcoming faster payments innovations. Key objectives for this strategic opportunity include enhancing ECCHO's functions currently provided to its members and the banking industry generally, including its rules, advocacy, educational and check resource functions," said David Walker, President and CEO of ECCHO.
"We are reaching out to a broad array of organizations to determine their interest in possible strategic opportunities with ECCHO, including industry payments rule organizations, industry trade associations, and payment system networks," David Walker added.
For further information or to indicate interest in a strategic opportunity with ECCHO, please contact David Walker, at (214) 273-3201 or firstname.lastname@example.org.
ECCHO is a not-for-profit national check clearing house owned by its almost 3,000 member financial institutions dedicated to promoting electronic check collection and related payment system improvements. ECCHO is recognized across the U.S. as the national provider of private sector check image exchange rules. During 2015, ECCHO member financial institutions used check images to exchange under the ECCHO check clearing house rules approximately 13 billion transactions totaling $20 trillion. See ECCHO's web page at www.eccho.org for more information.
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SOURCE Electronic Check Clearing House Organization